Entrepreneurial activity in Michigan declined slightly from 2015 to 2016 and trailed the “Top Ten” and peer state averages. Entrepreneurial activity in the state has recovered, however, after ranking near the bottom nationwide in 2012.
What It Is: Kauffman Index of Entrepreneurial Activity (the share of individuals age 20 to 64 who previously did not own a business and subsequently started a business with 15 or more hours worked during the year).
Why It Matters: This measure indicates the number of entrepreneurs in the state. Greater entrepreneurship, in the right environment, can lead to more innovation and more successful businesses.