Michigan's rapid entrepreneurial growth rate in the past five years is waning slightly but remains ahead of other Midwestern states, according to the Michigan Entrepreneurship Score Card released Monday byMiQuest.
"Michigan had a huge takeoff after the Great Recession, and it can't keep that pace forever," said consultant Graham Toft, president ofGrowthEconomics Inc.and author of the report.
He added that this year's data shows Ohio is nipping at Michigan's entrepreneurial heels. "You have some competition to your south."
Diane Durance, MiQuest president, agreed that the entrepreneurship pace is slower because gains starting in 2009 were huge. The Score Card analyzes data from 2004 to 2014. MiQuest is a Lansing-based nonprofit serving entrepreneurs.