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As a leading voice for small businesses in Michigan, the Michigan Business Network (MBN) believes the people making decisions need to hear how COVID-19 has been impacting businesses. 

MBN, in partnership with the Accident Fund Insurance Company of America, asked business owners, executives, and entrepreneurs to participate in a short survey, conducted by ROI Insight. It 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.

This special edition of the Michigan Future Business Index (MFBI) survey has allowed businesses in Michigan to speak in one voice to those making critical decisions in Lansing and Washington DC. 

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

About the survey: 
The Michigan Future Business Index (MFBI) is commissioned semi-annually by the Accident Fund Insurance Company of America 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. 

It also allows us to forecast potential changes in the market. Thanks to business leaders’ participation, we are able to amplify the voice of small business in Michigan and provide data to guide decisions of business advocacy organizations and policymakers, setting an agenda to help Michigan businesses prosper.

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