Accelerating Growth: An Entrepreneurship-led Economic Development Strategy for Michigan

October 16, 2018

Small businesses are important drivers of economic growth. Recently, the U.S. Small Business Administration (SBA) estimated that three in five new jobs in the United States are created by small businesses.1 Given the importance of small businesses to economic growth, Michigan needs economic development strategies that maximize this important sector’s potential. Strategies that focus on growing second-stage businesses can be particularly effective. Second-stage businesses are small businesses that have grown past the startup stage but have not yet reached maturity. Typically, these firms employ 10 to 99 people, have annual revenues between $1 million and $50 million, and demonstrate the potential for high growth in the future.

Spotlight

nCino, Inc.

In our digital-first world, the nCino Bank Operating System® empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings and regulatory compliance. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,500 financial institutions of all types and sizes around the globe.

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Small and medium-sized enterprises (SMEs) are the foundation of the global economy, representing 90% of all businesses and accounting for nearly 70% of global jobs and GDP.1 These businesses power the supply and distribution chains of key industries.2 SMEs also play a central role in society, helping to strengthen economic inclusion, supplying goods and services to poor and underserved markets and providing employment to many women entrepreneurs.3 These companies are also key drivers of innovation, offering fresh ideas and new products, being able to adopt change more quickly than large companies and having high growth potential.

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"Small Business Digital Marketing Survival Kit"

whitePaper | November 15, 2019

Sometimes surviving means knowing the difference between what’s time-honored wisdom and what’s just a tall tale. For example, some people think you can survive online with just a website or a Facebook page. Some people believe getting to the top of the search results is harder than making a fire with wet matches. The truth is, if you pack your digital survival kit with the right gear, you can do more than survive...you can thrive.

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whitePaper | August 19, 2022

Ecommerce business has seen consistent development for quite a long time, yet after COVID-19 hit the world, online retails confronted both new difficulties and potential outcomes in fostering their business. The evasion of eye to eye contacts, store terminations, and various Covid related limitations has everlastingly changed customers standards of conduct. While the economy and society are going through a pivotal shift, online business sellers need to change their business procedure as indicated by the new prerequisites

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The Omnichannel Guide for 2021

whitePaper | May 3, 2021

Ecommerce adoption has accelerated in the face of COVID-19, making it even more important for retailers to integrate online and offline sales channels into a cohesive experience. Retailers need a comprehensive, up-to-date omnichannel strategy that considers how consumer needs and behaviors have changed and recalibrates their understanding of their target customer.

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A guide to small business broadband

whitePaper | November 3, 2021

In this business broadband guide, in partnership with Sky Connect, we reveal why your small business should be considering an upgrade, the benefits of business broadband, the importance of switching from analogue phone systems to smarter broadband based networks and how to select a business broadband provider.

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whitePaper | February 24, 2020

Cloud Computing, Customer Relationship Tools, Cyber Security Lead Priorities for Small Businesses By leveraging innovative technologies to transfer and analyze data more quickly, CIT is better able to focus the expertise of its leaders on developing the right financing solutions for its small business clients.

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Spotlight

nCino, Inc.

In our digital-first world, the nCino Bank Operating System® empowers financial institutions with scalable technology to help them achieve revenue growth, greater efficiency, cost savings and regulatory compliance. Transforming how financial institutions operate through innovation, reputation and speed, nCino is partnered with more than 1,500 financial institutions of all types and sizes around the globe.

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