The Small Business Briefing – March 31, 2025

The Small Business Briefing, led by Brian Calley and Sarah Miller from the Small Business Association of Michigan, covered several important topics affecting small businesses. Key discussions included changes to unemployment benefits, Michigan’s rising unemployment rate, new automotive tariffs, and the impact on local manufacturing. The briefing also highlighted the upcoming Michigan Celebrate Small Business event and shared insights into the current state of retail in Michigan.

Key Points:

• Unemployment Benefits: Weekly amounts and duration are increasing, with retroactive adjustments from the beginning of the year.
• Michigan’s Unemployment Rate: Michigan has seen the largest increase in unemployment among the 50 states, now at 5.4%.
• Automotive Tariffs: New tariffs on vehicles and parts are expected to impact production costs and potentially drive up prices.
• Trade Policy: UAW President Sean Fain supports Trump’s protectionist trade policies, aiming to boost domestic manufacturing jobs.
• Retail Index: Michigan Retailers Index dropped significantly in February, reflecting decreased consumer sentiment.
• Michigan Celebrate Small Business: Upcoming event on April 21-22, featuring a summit, trade show, and awards gala.