––––––––––––––––––––
Subscribe to the Legal News!
http://legalnews.com/Home/Subscription
Full access to public notices, articles, columns, archives, statistics, calendar and more
Day Pass Only $4.95!
One-County $80/year
Three-County & Full Pass also available
- Posted April 02, 2014
- Tweet This | Share on Facebook
Small business investing triples in Oakland County
Small businesses are thriving and investing in Oakland County, Oakland County Executive L. Brooks Patterson said Monday. In 2013, existing small businesses and start-ups obtained triple the amount of loans and capital formation dollars from 2012 with the help of the Oakland County Business Center.
Banks approved $22,719,100 in traditional loans for established small businesses in 2013 through the Oakland County Business Center compared to $7,050,195 in 2012. In addition, The Oakland County Business Center assisted 19 start-up companies in acquiring $39,159,531 in capital formation in 2013. Contrast that to 2012 when 12 new starts accessed $13,669,878 in capital formation.
"Small businesses are the backbone of our economy. They are a bell-weather of things to come," Patterson said. "When businesses start investing more, it's a sign that they are confident about the future."
These investments helped generate $42,644,162 in revenue for the businesses and created 226 jobs in 2013. The year before, they helped produce $11,330,801 in revenue and created 191 jobs.
Oakland County Business Center counselors offered 2,968 hours of assistance to small businesses and start-ups last year. It is located in the One Stop Shop on the first floor of the Executive Office Building, 2100 Pontiac Lake Road, in Waterford. Start-ups or small businesses seeking to grow or invest in Oakland County may contact an Oakland County Business Center counselor at 248-858-0783, or click on AdvantageOakland.com.
Published: Wed, Apr 2, 2014
headlines Oakland County
headlines National
- 50 Years of Service: ABA has been a ‘stalwart ally’ for LSC funding
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Biden recalls time he bluffed knowledge of torts case and why he changed his mind about civil-trial work
- Lawyers’ ‘barrage of personal attacks’ on opponents started with tissue-box toss, appeals court says
- Longtime prosecutor resigns after judge tosses him from case, citing Perry Mason-type revelations
- 24% of law students expect to work in public service, survey says