The city of Southfield was recently named as one of nine metro area communities that are “top performers at attracting and retaining entrepreneurial firms” in a study by researchers at the University of Michigan-Dearborn College of Business. Southfield was also recognized in the 2008 study and will be honored for the City’s “continuing efforts at supporting entrepreneurship.”
The 2009 “eCities” study or “the Entrepreneurial Cities Index” found that several southeast Michigan municipalities “are hard at work attracting, cultivating, building and holding entrepreneurial firms.” The study, conducted by iLabs, the Center for Innovation Research in the UM–Dearborn School of Management, focused on entrepreneurship because of its importance to expansion and diversification of Michigan’s regional economies and the impact small businesses have on job creation.
This third annual UM-Dearborn study found that successful municipalities leverage their existing assets to provide opportunities for small business growth and entrepreneurial development. “The communities we are recognizing this year have identified existing strengths to use as a starting point to help new and growing businesses,” said Tim Davis, director of iLabs.
UM-Dearborn researchers utilize an online interface that allows communities to enter public data and receive instant feedback on their performance. This year 52 communities across Michigan took part in the study, up from 36 in 2008. The study used the data supplied by the communities as well as other public records to assemble a six-factor, 31-item index to measure entrepreneurial activity, looking at such factors as clustering, incentives, growth, policies, community and education.
In the future it is expected that eCities’ research will continue to add communities from across Michigan. “The focus of this project is assisting local communities. It provides a method for cities, townships and villages to benchmark their efforts and have access to best practices to attract entrepreneurial development and create business growth,” Davis said. “Sharing the findings will have a positive impact on Michigan’s economy, providing municipalities with the tools and knowledge they need to aid with job growth strategies, economic diversification, and attraction of entrepreneurs.”
Marquette, Midland, Rochester Hills, Sterling Heights, Wixom, Auburn Hills, Dundee, and Troy were also identified in the entrepreneurial index. The recognized communities were honored at a ceremony at UM-Dearborn on October 20.