Here’s news you can use in a constantly changing business environment, including growth in visitors to Kalamazoo County, the possibility of toll roads in Michigan, how to make your business a more attractive borrower and more.

1. Growth in visitors to southwest Michigan — Spending by visitors to Kalamazoo County reached an all-time high at $585 million in 2021, and the southwest region had the fastest growth in visitor spending of all regions in the state. Discover how other Michigan counties visitor spending

 

2. Toll roads considered for Michigan — An electronic toll system would function as a mileage-based tax and generate about $1 billion for the State of Michigan each year. These funds could offset declines in traditional gas taxes and help finance road and infrastructure improvements. Learn more about the toll road research Whitmer is reviewing.

 

3. “Enormous possibilities” for ChatGPT — No matter where you land in the debate on artificial intelligence, this new technology is changing how business gets done. Discover how ChatGPT works and how it can be utilized.

 

4. Make your business a more attractive borrower — If you’re seeking a business credit card, loan or line of credit, you need to establish business credit. For business owners with a low personal credit score, it can be challenging to do so. However, these strategies can help your business establish credit even if you have bad personal credit.

 

5. Selling your business? — When you’re planning to sell your business, you need to be prepared for buyer questions. For example, why do you want to sell? Discover how to answer nine common questions asked by business buyers.

 

Thank you to our Friday Five sources: MLive, Bridge Michigan, HR Executive, Entrepreneur and Forbes.

Do you have business banking questions? Contact our knowledgeable commercial loan officers online or call 800-991-2221. We’re also available to help in person at your local Consumers office.

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