Q2 2022 Michigan Future Business Index Survey for Spring 2022 is Underway!
The survey began as a regional one in 2003, and then with the underwriting of Accident Fund Insurance Company of America became a twice a year business survey statewide for Michigan ever since.
Cinnaire currently underwrites the efforts and MEDC supported the MFBI last fall.
Paul and Chris discuss this history, some of the results from last November's survey, along with general trends they are watching out for in the MFBI survey which went "in the field" starting May 4th and is running through the rest of this month.
This survey not only checks with small/medium-sized businesses about how things are going right now, but it looks to find out what they are expecting in the next 6 months.
Chris Holman welcomes back Paul King, President of ROI Insight, Grosse Pointe, MI. Paul has conducted the Michigan Future Business index survey on behalf of Michigan Business Network twice a year since 2011, across three companies. Shared below is the video of their discussion:
Q4 2021 Michigan Future Business Index Survey "Hot off the press"!
As a leading voice for small businesses in Michigan, the Michigan Business Network (MBN) believes the people making decisions need to hear how your business is doing. The MFBI Survey allows us to forecast potential changes in the market. Thanks to business leaders’ participation, we are able to amplify the voice of small businesses in Michigan and provide data to guide decisions of business advocacy organizations and policymakers, setting an agenda to help Michigan businesses prosper.
The Michigan Future Business Index (MFBI) is proud to announce that this time around it is now underwritten by the Michigan Economic Development Corporation and continues to be commissioned by Cinnaire and the Michigan Business Network and conducted by Paul King founder of ROI Insight. It surveys owners of small to mid-sized businesses in Michigan and provides business leaders a forum to offer their perspectives and opinions on doing business in Michigan, the overall business climate in the state, and various issues in the news.
July 22nd MBN, Cinnaire, and ROI Insight release the Spring MFBI results for 2021
As a leading voice for small businesses in Michigan, the Michigan Business Network (MBN) believes the people making decisions need to hear how your business is doing. The MFBI Survey allows us to forecast potential changes in the market. Thanks to business leaders’ participation, we are able to amplify the voice of small businesses in Michigan and provide data to guide decisions of business advocacy organizations and policymakers, setting an agenda to help Michigan businesses prosper.
The Michigan Future Business Index (MFBI) is commissioned by Cinnaire and the Michigan Business Network and conducted by Paul King founder of ROI Insight. It surveys owners of small to mid-sized businesses in Michigan and provides business leaders a forum to offer their perspectives and opinions on doing business in Michigan, the overall business climate in the state, and various issues in the news.
DECEMBER 2020 Key Takeaways:
- Satisfaction With the Economy in Michigan was at a near-record high (82%) one year ago and collapsed to a record low of 11% in May. It has now rebounded to 28%.
- Business Performance: The percentage of businesses describing their performance as pretty good or excellent plummeted from 81% before the pandemic to only 8% in May. It has now ticked back up to 27%. More than three in four (76%) said they were in not so good or poor shape in May, but that number has dropped to 50% now.
- Ninety-four percent (94%) say their business is open now, which was at only 65% in May.
COVID-19 IMPACT SURVEY: Download Results
The special COVID-19 Impact Survey covered topics such as how businesses are coping, what are business owner's expectations are for the future, and how well they think our leaders are meeting their needs. It allowed businesses in Michigan to speak in one voice to those making critical decisions in Lansing and Washington DC.
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