50 Companies Shine During Pandemic

While the pandemic had a devastating effect on many small businesses, a consortium of Michigan business groups has research that shows continued growth among many companies.  And that growth is predicted to only get better in 2021.

Michigan Celebrates Small Business will honor its “50 Companies to Watch” later this month in Lansing.  And it will thank them for creating a projected 507 new jobs in 2021, on top of the 2,371 people they employed in 2020.

From 2017 through 2020, the Michigan 50 companies generated $1 billion in revenue and added 1,038 employees (both in Michigan and out of state), reflecting a 33.9% increase in revenue and 77.9% increase in jobs for the four years. That translates into a 10.3% annual revenue growth and 21.4% annual growth in employees.

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    These companies project continued growth in 2021, with a 31.9% revenue increase and 24.3% growth in employees (both in Michigan and out of state) compared to 2020. If their projections hold, these companies will have generated $1.4 billion in revenue and added 1,615 employees over the last five years — a 76.5% increase in revenue and 121.2% increase in jobs since 2016.

Michigan’s 2021 Fifty Companies to Watch include Barber Packaging of Bangor and Riveer Environmental of South Haven.

 Michigan Celebrates Small Business was founded by the Michigan Economic Development Corporation and is a collaboration of trusted statewide organizations that offer resources to small businesses.  The 17th Annual Awards Gala will be at the Breslin Center in East Lansing July 20.  More information is available at MichiganCelebrates.org.