Detroit’s economic recovery will be topic of small business workshops

Desy Papper

A workshop series for Detroiters taking place each week in May will look at the experiences that business owners have had during the COVID-19 pandemic. The free Small Business Workshop virtual series is being hosted by The LEE Group and is held each year as part of National Small Business Month.  “Within the first […]

A workshop series for Detroiters taking place each week in May will look at the experiences that business owners have had during the COVID-19 pandemic.

The free Small Business Workshop virtual series is being hosted by The LEE Group and is held each year as part of National Small Business Month. 

“Within the first three months of the pandemic, 17% of all small businesses either shut down permanently or partially,” said Mark S. Lee, president and CEO of the Detroit-based marketing consulting firm. “By contrast, 41% of all black businesses shut down partially or totally. So I think this year is critical because businesses are trying to figure out how to survive.” 

The first workshop in the series will take place at 10 a.m. Wednesday and will feature Jeffery Korzenik, an economist from Fifth Third Bank who will provide data about the Detroit business recovery process this year and next. Another session with Fifth Third Bank will cover  what small business owners need during this time. 

Panelists and businesses participating include Ray Waters of the Detroit Development Fund, Alexis Dishman of Michigan Women Forward and Regina Ann Campbell of Build Institute.

“I want people to understand Detroit’s economy,” said Lee. “We have a very fragile economy. I think people need to hear exactly how we’re going to recover from this. What do the numbers look like in Detroit, and from a business standpoint, how is that going to impact my business. I think that’s what the uniqueness of this year’s event is to give people that information so they can make the appropriate business decisions.”

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