The bill amends the Michigan Strategic Fund Act by adding Chapter 7A, which establishes the Office of Small Business Growth. This office is tasked with supporting small businesses in Michigan, defined as independently owned and operated businesses with fewer than 500 full-time employees. The chapter outlines the responsibilities of the office, including facilitating job creation and retention, coordinating state programs for small businesses, and providing resources and technical assistance to entrepreneurs. The head of the office, known as the small business administrator, will be appointed by the governor and must possess the necessary qualifications for the role.

Additionally, the office is required to create a comprehensive online resource for small businesses, conduct outreach to inform them of available services, and seek additional funding through various sources. The office will also collect and analyze data on its program outcomes and submit an annual report detailing its activities to various stakeholders, including the legislature and the governor. The bill emphasizes the importance of creating a business-friendly environment and streamlining processes to support small business growth in Michigan.

Statutes affected:
House Introduced Bill: 125.2001, 125.2094