The 16th Annual Michigan Celebrates Small Business (MCSB) awards gala will be held virtually on Tuesday July 28.
Ninety-four businesses will be recognized for their role in growing Michigan’s economy and creating jobs.
The “Michigan 50 Companies to Watch” will be recognized at the celebration.
Other small business awards will be presented at the gala, including Best Small Businesses from across the state. Additionally, the Small Business Administration (SBA) Michigan District Office will present a number of small business awards.
“Michigan’s small businesses are the lifeblood of our local economies and play a vital role in making our communities attractive places to live, work, visit and play,” said Josh Hundt, Chief Business Development Officer for the Michigan Economic Development Corporation.
Among the award winners are Boyne Boat Yard of Boyne City, which was named among 50 Michigan Companies to Watch.
And, Redi-Rock International of Charlevoix received the Michigan U.S. Small Business Administration Award.
This year’s Michigan 50 Companies to Watch have made a substantial economic impact, totaling $365 million in total annual revenue for 2019.
From 2016 through 2019, these companies generated $1 billion in revenue and added 723 employees (both in Michigan and out of state), reflecting a 101.9% increase in revenue and 93.8% increase in jobs for the four-year period. That translates into a 26.9% annual revenue growth and 24.8% annual growth in employees.
Companies nominated for the Michigan 50 Companies to Watch award must be a second-stage company, defined as having six to 99 full-time-equivalent employees and generating $750,000 to $50 million in annual revenue or working capital from investors or grants.
Additionally, the companies must be privately held and headquartered in Michigan.
Judges from economic and entrepreneurship development organizations selected the 2020 winners.
The judges evaluated the nominees’ demonstration of intent and capacity to grow based on the following:
• Employee or sales growth
• Exceptional entrepreneurial leadership
• Sustainable competitive advantage
• Other notable factors that showcase the company’s success
Michigan Celebrates received 575 nominations for the Michigan 50 Companies to Watch award, which surpassed last year’s record of 425 nominations.
MCSB awardees, guests and small business supporters will virtually gather for the 16th Annual Michigan Celebrates Small Business Awards Gala on Tuesday, July 28 at 6 p.m.
Small business supporters will have an opportunity to celebrate the awardees for this “register only” virtual gala. Guests can register for the virtual gala at MichiganCelebrates.org.
A list of the 2020 MCSB awardees can be found on the MCSB website.