Helping Small Businesses, Downtowns, and Communities Thrive

(Representative Only)

A little funny picture.

The very same patterns of
exchange are at
work since barter & trade
to bitcoin. 

Economic development
is often about giving
pathways to motivated
people to achieve their
goals. Economic Needs

If you can 
attract such motivated people,
enhance them, 
and help them 
flourish locally
they will have a much
wider impact on 
local economies.

Economic and social
exchange are 
part of the micro
transactions that
lead to growth.

Let's continue to talk about community and economic development. As we continue exploring ways to strengthen and revitalize communities so they can compete in the global economy, research provides valuable insights into what works and why. There are many pathways to success but finding the path that is as unique as your local economy takes a little focused effort. 

Small businesses make up the vast majority of businesses in the United States, yet they are often underrepresented in economic policy discussions. This may be one reason many downtown areas have struggled over time, as economic development efforts have frequently focused on attracting large employers while giving less attention to the small businesses that form the backbone of local economies.

Successful community development requires a balance between large, medium-sized, and small businesses. Each plays a unique role in creating jobs, exchanging knowledge, adopting new technologies, and generating long-term economic value.

According to this Brookings study, many small business support programs are fragmented and difficult for entrepreneurs to navigate. The research suggests that local governments, educational institutions, nonprofit organizations, and business leaders can improve outcomes by coordinating resources and creating stronger support systems for entrepreneurs. These efforts can increase business growth, expand the local tax base, improve economies of scale for infrastructure and utilities, and make communities more attractive to residents, investors, and visitors.

From the perspective of economic cluster theory, the findings also reinforce the importance of collaboration. Whether clusters develop organically or through intentional planning, businesses that work together often achieve better outcomes than those operating independently. Collaborative business networks can increase survival rates, boost revenues, strengthen Main Streets, and improve the overall vitality of a community.

This also highlights the relationship between anchor businesses and small businesses. Large employers attract customers, workers, and investment, while small businesses provide specialized products, services, innovation, and local character. When these businesses support one another, they create a stronger and more resilient local economy. Finding the right balance between businesses of all sizes can help revitalize downtowns and position communities for long-term, sustainable growth.

Time to Level Up: How to Help America's Small Businesses Survive and Thrive in Tumultuous Times

• Small businesses account for 99.9% of U.S. businesses and employ more than 59 million people, making them essential to job creation, innovation, community development, and local economic resilience.
• The authors argue that traditional small business support programs are often fragmented and difficult to navigate, recommending coordinated local business ecosystems that provide entrepreneurs with easier access to capital, training, workforce development, affordable space, and customer networks.
• County governments can play a key leadership role by bringing together public, private, educational, and nonprofit organizations to coordinate resources and strengthen regional entrepreneurship ecosystems.
• Recent investments in infrastructure, manufacturing, energy, domestic supply chains, and artificial intelligence present new opportunities for small businesses to expand by becoming suppliers and partners within growing regional industries.
• Communities that build collaborative, data-driven support systems for entrepreneurs are experiencing stronger business survival rates, increased local revenues, more resilient Main Streets, and broader economic growth than communities relying on disconnected assistance programs.

Brookings Institution. (2026, May 26). Johnson, C. C., & Briggs, X. de S. Time to level up: How to help America's small businesses survive and thrive in tumultuous times. https://www.brookings.edu/articles/level-up-small-businesses-survive-thrive/

Commodore's Dinner Escanaba Yacht Club 2026

The Escanaba Yacht Club recently hosted its Commodore's Dinner, bringing members together for an enjoyable evening of fellowship and community. Events like this strengthen local connections while providing opportunities for networking, friendship, and social engagement. Escanaba offers a wide variety of recreational and community activities that contribute to a high quality of life, making it an attractive place for residents, entrepreneurs, and professionals seeking a vibrant community with plenty of opportunities to relax, connect, and enjoy the natural beauty of Michigan's Upper Peninsula.

Last Wednesday's sailboat races were challenged by rainy weather. Although I missed the event, a dedicated group of members still took to the water and kept the races going, demonstrating the enthusiasm and commitment that make the club such a great organization.

If you live in the Escanaba area, consider joining the Escanaba Yacht Club and getting involved. Whether you enjoy sailing, boating, or simply spending time with others who appreciate the waterfront, the club offers an excellent way to stay active, build friendships, and become part of a welcoming recreational community. Escanaba Yacht Club

Daily Press-Small Fleet and Big Hearts

What Makes a Great Manager According to Research?

 Management research helps us better understand what makes an effective manager. It's also important to recognize that leadership expectations evolve over time, so research should always be viewed within the context of the era in which it was conducted. While many leadership qualities have remained consistent for centuries, the emphasis placed on specific skills has changed as workplaces and technology have evolved.

Over the past two decades, Google's Project Oxygen examined what distinguishes highly effective managers. The research identified several key characteristics, including coaching employees, empowering team members, communicating clearly, supporting employee growth and career development, possessing the technical knowledge needed to guide the team, and making sound decisions.

These findings provide a useful framework for aspiring managers. As you develop your own leadership style, consider how you can strengthen these skills to better support your team, improve performance, and create a positive and productive work environment.

Following the Data: The Research Behind Great Managers

• Google's Project Oxygen analyzed employee feedback, performance data, interviews, and surveys to identify the behaviors that make managers most effective. The research demonstrated that great managers significantly improve employee engagement, team performance, and organizational success.
• The study identified key characteristics of strong managers, including being a good coach, empowering employees rather than micromanaging, expressing genuine concern for team members' success and well-being, and being productive and results-oriented.
• Effective managers communicate clearly, listen actively, share information openly, support career development, and provide regular, constructive feedback that helps employees improve and grow.
• Strong managers create a clear vision and strategy for their teams, make sound decisions, solve problems effectively, and encourage collaboration while fostering an inclusive and psychologically safe work environment.
• Google's research showed that management skills can be developed through data-driven training, coaching, and continuous feedback, enabling organizations to improve leadership quality and overall business performance.

Characteristics of Strong Managers (Project Oxygen)

• Is a good coach.
• Empowers the team and avoids micromanaging.
• Creates an inclusive team environment and shows concern for employees' success and well-being.
• Is productive and results-oriented.
• Communicates effectively by listening and sharing information.
• Supports employees' career development and discusses performance regularly.
• Has a clear vision and strategy for the team.
• Possesses key technical skills that help guide and advise the team.
• Collaborates across teams and builds strong working relationships.
• Makes sound decisions and solves problems effectively.

Google re:Work. (n.d.). Following the data: The research behind great managers. Google. https://rework.withgoogle.com/intl/en/guides/following-the-data-the-research-behind-great-managers

FEMA Firefighter Fatalities and Home Fire Fatalities in 2026

Firefighting is an inherently dangerous profession, but it plays a vital role in building safer, more resilient communities. Unfortunately, many fire departments operate with limited budgets at a time when wildfire risks are increasing and recruiting volunteers—especially younger ones—has become more challenging.

One local department has successfully recruited 12 to 13 young firefighters, which is an impressive achievement. Preparing these volunteers for the demands of the job requires significant time, training, equipment, and financial support.

If you are looking for a meaningful way to give back, consider donating to your local fire department. Contributions help purchase life-saving equipment such as hydraulic rescue tools (often called the "Jaws of Life"), protective gear, training, and other essential resources. Whether you are an individual or a business, your support can make a real difference. If you're interested in contributing, send me a message and I'll help point you in the right direction.

The firefighter fatality statistics below for 2026—and the historical data from 2014 through 2023 linked beneath them—serve as an important reminder of the risks firefighters accept every time they respond to a call.

Most firefighters volunteer their time because they care deeply about their neighbors and want to make their communities safer. They are motivated by a strong sense of service and a willingness to help others, often putting themselves in harm's way. Encouraging more young people to pursue volunteer service and firefighting strengthens not only local departments but also the resilience and well-being of our communities as a whole.

Firefighter fatalities in 2026 34

Home fire fatalities in 2026 981

2026 Fire Stats

Overall Fire Deaths 2014-2023

The Economic Costs of Hate and Corruption-Economic and Moral Imperitives

 

(Illustrative Only)

Illustrating an allegory
where most are working
toward what is good
and some are undermining
the foundations for
their own purposes. 

There is power of togetherness and shared purpose. Where hate and corruption have reared their head it is helpful to think of ways to minimize its impact. Hate often begins by devaluing, dehumanizing, or denying the rights and dignity of others. Corruption is the misuse of trust and resources. The two can be intermingled. 

When people view others as less deserving of respect or equal treatment, society as a whole is weakened. That conception often sifts over into corruption where the needs of others and society in general are secondary to oneself and the assumptions of value. We have also discussed how hate and corruption can undermine trust, opportunity, and long-term prosperity.

The article below adds to that understanding by highlighting the significant economic and social costs of hate. It reminds us that values such as fairness, equality, and respect benefit everyone. When we undermine those values for others, we ultimately weaken our own communities.

The philosophical "Allegory of the Clan," modeled after Plato's Allegory of the Cave, explores these ideas through a learning thought experiment example. In the story, hate becomes normalized, and people are threatened, intimidated, and basic rights undermined. Others are rewarded for bad behaviors. Group identity and ideology take precedence over fundamental freedoms, including freedom of speech and freedom of religion. The story illustrates how some members of society can gradually accept harmful behaviors and why it is important to recognize and challenge them.

History shows that hate and corruption carry lasting costs—not only for individuals but also for communities, economies, and future generations. Understanding these consequences can help us build stronger, more just, and more resilient societies.

*The Allegory of the Clan is a philosophical thought experiment for learning purposes so take with a grain of salt. 

For your review, please see the article below.

The Economic Costs of Hate Crimes

• The report argues that hate crimes create substantial economic costs that extend beyond victims to families, communities, businesses, and government through medical care, law enforcement, property damage, lost productivity, and reduced quality of life.
• Using a cost-benefit analysis framework, the study estimates the annual economic cost of hate crimes in the United States at approximately $3.4 billion, with adjusted estimates suggesting the true cost could exceed $6.7 billion because of underreporting and data limitations.
• The analysis includes both tangible costs, such as medical expenses, property damage, policing, investigations, and lost earnings, and intangible costs, including pain, suffering, psychological trauma, and reduced quality of life.
• The report uses data from the National Crime Victimization Survey (NCVS) and the FBI's National Incident-Based Reporting System (NIBRS), while acknowledging that both sources likely underestimate the true number of hate crimes due to underreporting and misclassification.
• The author concludes that reducing hate is not only a moral imperative but also an economic one, encouraging policymakers and researchers to better measure the full societal costs of hate and invest in prevention efforts.

Martell, M. E. (2023). Economic costs of hate crimes. Bard Center for the Study of Hate.

U.S. Personal Income, Savings and Consumer Spending Increased in May 2026 According to the BEA

 The U.S. Bureau of Economic Analysis (BEA) recently reported that both personal income and consumer spending increased in May. Personal income and disposable personal income both rose, while the personal saving rate also increased. Higher savings are generally a positive sign because they provide households with greater financial security and create opportunities for future investment and wealth building.

Rising wages are also encouraging, particularly when they are accompanied by strong employment growth and continued investment in business production and productivity. Together, these factors support long-term economic growth and stability.

Following reports such as those released by the BEA helps build a broader understanding of the economy. Monitoring trends in income, spending, savings, and investment provides valuable insight into the direction of economic conditions and the factors shaping future growth.

U.S. Personal Income and Consumer Spending Increased in May 2026

• Personal income increased by $181.6 billion (0.7%) in May, reflecting broad-based gains in wages, salaries, and other income sources.
• Disposable personal income (income after taxes) rose by $164.9 billion (0.7%), providing households with more after-tax income.
• Personal consumption expenditures (consumer spending) increased by $156.1 billion (0.7%), indicating continued strength in household spending.
• The personal saving rate increased to 3.0%, up from 2.6% in April, largely due to a temporary increase in farm-related government payments.
• The report suggests that consumers remained resilient during May, although part of the improvement in income and savings was driven by one-time government support rather than ongoing economic fundamentals.

U.S. Bureau of Economic Analysis. (2026, June 25). Personal income and outlays, May 2026. https://www.bea.gov/news/2026/personal-income-and-outlays-may-2026

Moody Top Economist Mark Zandi Warns on Growing Inequality: Are there solutions?

 For some time, we have discussed the growing issue of inequality in the United States and around the world. The article below provides another data point suggesting that wealth and opportunity are becoming increasingly concentrated. There are ways in which we think that can help us reverse that trend and return wealth to our communities and the average person out there. 

There are many reasons why this has happened over the past 20+ years, and we will not explore all of them here. However, research shows that access to decision-makers often influences policies and economic outcomes. As people and organizations become wealthier, they tend to have greater access to policymakers and business leaders. Their expertise and perspectives can help shape laws, regulations, and economic priorities.

(Illustrative Only)

Representing a couple
who launched their
business on Ludington St.
They are strarting to export
and the money they make
stays local and 
helps their community. 

Attractive storefront
helps the downtown, 
attracts tourism and
visitors. Their exports
expand their reach
and improve their
digital footprint. 

They been thinking
about economics. 

Start-Up Firms

Perpetual Systems

20 Year Economic Metrics

Schumpeter Cycles

Large businesses are important. They create jobs, invest in communities, and drive innovation. At the same time, we should also focus on supporting small and medium-sized businesses. These businesses help local communities grow, strengthen downtown areas, create opportunities for entrepreneurs, and keep money circulating within local economies.

A healthy economy should be dynamic. New businesses should be able to start and grow, established businesses should continue to compete, and opportunities should be available to a wide range of people. When policies or systems favor some groups more than others, economic mobility can slow and wealth can become more concentrated.

This raises some important questions. How can we strengthen our downtowns and local economies? How can we encourage more people to start businesses? How can we help small and medium-sized businesses grow and succeed? And how can larger companies support startups and innovation while ensuring that entrepreneurs still have strong incentives to create new ventures?

At its best, capitalism is about opportunity. It allows people to apply their skills, ideas, and hard work to create value for themselves and others. A healthy capitalist system should encourage broad participation and provide opportunities for people from all backgrounds to succeed. Wc can call this Broad Based Capitalism vs Concentrated Capitalism.

The article below is another useful piece of information to consider as we continue discussing these important economic trends.

Mark Zandi Warns Growing Inequality Is Reshaping the U.S. Economy

• Moody’s Analytics Chief Economist Mark Zandi argues that the U.S. economy has become increasingly “K-shaped,” with high-income households continuing to prosper while most Americans struggle to keep pace with inflation.
• Households earning more than approximately $175,000 annually (the top 20% of earners) now account for nearly 60% of all consumer spending in the United States, making economic growth heavily dependent on affluent consumers.
• Spending by the top 20% increased about 6.5% over the past year, significantly outpacing inflation, while spending by the bottom 80% grew only 2.6%, leaving many households effectively falling behind rising prices.
• Zandi contends that this widening gap helps explain why many Americans feel dissatisfied with economic conditions despite positive aggregate indicators such as consumer spending and stock market gains.
• The concentration of spending power among wealthy households creates economic vulnerability because a slowdown in spending by affluent consumers could significantly weaken overall economic growth and increase recession risks.

Pan, J. (2026, June 22). Mark Zandi says top 20% of Americans now account for nearly 60% of spending as bottom 80% fall behind inflation. Yahoo Finance. https://finance.yahoo.com/economy/articles/mark-zandi-says-top-20-003019501.html