Kinexus Group, the agency that works to build bridges between employers and job seekers in Southwest Michigan, is pointing to the economic impact of the businesses honored by the Michigan Celebrates Small Business Awards. Kinexus highlighted the numbers in a statement:
The 2022 ‘Michigan 50 Companies to Watch’ awardees are small but mighty, having generated significant economic impact across the state.
In 2021, these businesses generated $352 million in total annual revenue, an increase 37% since 2020. The companies reported they had 1,418 full-time equivalent employees in 2021 and project 522 net new jobs for 2022.
These astounding numbers aren’t new – these companies have been increasing their impact since 2018. For the last four years, the Michigan 50 awardees generated $914.7 million in revenue and added 770 employees to their workforce, reflecting a 56% increase in revenue and 60% increase in jobs for the four-year period.
The honorees come from across the mitten, with members from West Michigan, Metro Detroit and even the Upper Peninsula. They will all unite at the 18th annual Michigan Celebrates Small Business Gala on May 3, 2022.
“The impact of these 50 small businesses cannot be overstated. They are the backbone of Michigan’s economy and we are so excited to celebrate them at the gala,” said Jennifer Deamud, MCSB Board Chair and Executive Director of Michigan Manufacturing Growth Alliance.
At the event, over 800 guests will gather in-person at the Breslin Center in East Lansing, Michigan to celebrate the achievements of this year’s award recipients.
The gala launched in 2005 and has become Michigan’s awards program for small businesses. There have been over 1,000 companies honored at MCSB over the past 18 years, which includes 900 second-stage companies recognized by a Michigan 50 Companies to Watch Award.
The six Founding Partners created an annual awards gala to recognize small business and second-stage companies. The founding organizations of Michigan Celebrates are as follows:
– Edward Lowe Foundation
– Michigan Business Network
– Michigan Economic Development Corporation (MEDC)
– Michigan Small Business Development Center (SBDC)
– Small Business Association of Michigan (SBAM)
– U.S. Small Business Administration – Michigan District Office
Additional information and ticket information can be found at MichiganCelebrates.org.
About Michigan Celebrates Small Business
Michigan Celebrates Small Business is a collaboration of trusted statewide founding organizations that offer resources for small businesses. Since 2005, their awards gala has celebrated how small businesses positively impact our communities and state. MCSB is focused on supporting, connecting and celebrating small businesses in Michigan.
