Owners of Michigan’s small and medium-size businesses have voiced their confidence in Michigan’s economic future in the latest Future Business Index, published in partnership with the Michigan Business Network and Lansing, Mich.-based Accident Fund Insurance Company of America, the insurer announced.
The optimism of the survey is a positive sign for Michigan workers and for those looking for employment, and indicates business leaders are demonstrating their confidence by raising wages and hiring, the company said.
“This year’s survey results build on the significant optimism established last year and reinforce Michigan’s journey toward economic recovery,” said Mike Britt, president of Accident Fund. “It’s exciting to see how small businesses in our state are continuing to find innovative ways to be a driving force for growth.”
While the survey reflects positive signs for Michigan’s economy, concerns remain regarding the challenges of retaining skilled employees and the unknown impact of the Affordable Care Act on the individual bottom lines of businesses.
“Michigan businesses have once again demonstrated their resilience in overcoming tough economic challenges to keep our state moving forward,” said Chris Holman, CEO of the Michigan Business Network. “These businesses are the backbone of Michigan’s economic growth and progress, and I am proud of their commitment to building a strong future.”
The semi-annual Michigan Future Business Index has been commissioned by Accident Fund and the Michigan Business Network since 2006 and is conducted by the Michigan-based marketing services and survey research firm, Phoenix Innovate. A total of 611 Michigan business owners and C-suite executives were interviewed for the June 2014 survey.
Source: Accident Fund Insurance Company of America