Business & Economy
Nurtured small businesses create 10,000 new jobs
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By YANJIE WANG
Capital News Service
LANSING – With an unemployment rate at 9 percent in July and the loss of 500,000 workers in Michigan since 2001, the good news seems to be the creation of nearly 10,000 jobs in small business across the state since January. The new jobs reflect a situation improved by the business tax reform, regulation revision in the state, as well as an increasing sense of entrepreneurship, experts say. Business tax reform exempts most small business from business taxation, providing a financial advantage for people to step into small businesses, and a strong co-business attitude helps individuals understand regulations and laws, Rob Fowler, Small Business Association of Michigan president, said. Allen Cook from the Michigan District Office of U.S. Small Business Administration said starting a business often is an economic decision by individuals who can’t find a job in large company to. “People are looking to take control of their own economic destiny,” he said.