Survey shows small businesses confident in state’s banking system
Despite recent national banking concerns, small businesses have confidence in their financial institutions, according to a new survey released by the Small Business Association of Michigan.
“Though challenges remain for Michigan’s small businesses, they continue to show confidence and optimism for the future,” said SBAM President and CEO Brian Calley. “We are encouraged that despite recent events our members have confidence in Michigan’s banking and financial institutions.”
The survey showed that 91 percent of respondents have confidence in Michigan’s banking and financial institutions. The majority of small businesses reported not experiencing a change in access to capital.
The survey, conducted April 5-14, 2023 of approximately 550 small business owners also revealed that:
• 90 percent of respondents are experiencing higher costs compared to normal times.
• 63 percent of small business owners report inflation as the top concern facing their businesses.
• 68 percent of small businesses report having a hard time finding and keeping their business fully staffed.
• 75 percent of respondents have increased wages to attract and retain employees in the last year.
• 45 percent of small businesses have plans to increase staff size in the next year.
The full survey details and comparison to previous surveys are available at sbam.org.
State Bar to host 2023 Spring Pro Bono Workshop
The State Bar of Michigan’s 2023 Spring Pro Bono Workshop is set for Tuesday, May 16, from 9 a.m. to 3:30 p.m. and will be offered in-person at the State Bar Building in Lansing and virtually via Zoom. This year’s workshop, titled “Pro Bono, Post-Pandemic,” will focus changes and challenges created by the pandemic.
Michigan Supreme Court Justice Megan K. Cavanagh will be a special guest speaker at the workshop, which will include sessions on the Michigan Task Force on Well-Being in the Law, the Pro Bono Portal on Justice Server, the Right to Counsel in Civil Cases, the Access to Justice Campaign, and Best Practices for Establishing Virtual and In-Person Legal Clinics.
This workshop is hosted by the State Bar of Michigan Justice Initiatives Committee, which is committed to promoting access to justice for all Michigan residents by identifying, developing, and promoting innovative programs and initiatives.
The deadline to register for the workshop is May 8. To register, visit https://bit.ly/41IDS0a.
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