In September 2020, WMSRDC and the Grand Valley State University Muskegon Innovation Hub (Hub) received a grant from the U.S. Department of Commerce, Economic Development Administration (EDA) to study the entrepreneurial ecosystem in the West Michigan lakeshore area including the counties of Kent, Lake, Mason, Muskegon, Newaygo, Oceana, and Ottawa. The Entrepreneurial Market Analysis was conducted during the first quarter of 2021 and released in June.
Innovation and entrepreneurialship typically increase in the wake of an economic disruption. The intent of this project was to help The Hub and other entrepreneurial support organizations (ESOs) be more responsive to the entrepreneurial market, especially considering coronavirus pandemic impacts. Although the full impacts and ripple effects of the COVID-19 pandemic have yet to be fully realized, the Entrepreneurial Market Analysis provides valuable insight into the evolving needs of entrepreneurs and small businesses. Recommendations of the report are centered around potential programmatic enhancements that The Hub and partner ESOs could make to enhance overall entrepreneurial and business success.