About Us

During the summer of 2020, 37 students from the Michigan Ross School of Business and the Ford School of Public Policy worked with businesses in the restaurant, retail, and personal services sectors to identify common pain points and opportunity spaces for scalable solutions in the wake of COVID-19. After identifying five common problem areas, we developed tools to help businesses make progress in each of these areas.

We conducted interviews with businesses in Detroit and SE Michigan to understand the most pressing issues in these sectors, supplemented with industry research. Using this, we created financial tools, guides, and frameworks to help business owners better understand profitability and strategic operations in the COVID-19 economy. Our work focused on incorporating new technologies, navigating new business models, and changing supply chains, while keeping health and safety as the top priority. With our work, we aim to alleviate the increased pressure put on local businesses and play a part in helping small businesses survive and adapt.

The +Impact Studio for Local Business was organized by the University of Michigan’s Center on Finance, Law & Policy and its Detroit Neighborhood Entrepreneurs Project (DNEP), Michigan Ross’ +Impact Studio, and the Ford School of Public Policy to help businesses in Detroit and Southeast Michigan respond and adapt to challenges caused by the COVID-19 pandemic and related shutdowns. It was made possible by the Ralph C. Wilson Jr. Foundation, the dozens of businesses who shared information with us about their needs and experiences, and our partners, listed below, who provided feedback on earlier drafts of our work products.

U-M’s work with small businesses in Detroit will continue through the Detroit Neighborhood Entrepreneurs Project and through Ross’ Business+Impact initiative. To get more involved in DNEP, click here.