Despite its long history as a hotbed for manufacturing, Detroit is suffering today. While the city is known for its auto industry, unemployment is nearly 20%, and it could have easily gone higher if people just stopped looking for work. The poor economy, combined with the high level of failure, have created a perfect storm for entrepreneurs looking for business opportunities. Some of the city’s best businesses include restaurants, bars, bike shops, and tech startups.
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The city has a history of reinventing itself, and there are plenty of opportunities for entrepreneurs in the region to capitalize on these conditions. The challenges entrepreneurs face in Detroit are no different from those faced in other parts of the country. A global marketplace and fast-moving technology pose new and unique challenges to start-ups. Although the challenges are more pronounced in Detroit, they are applicable to communities across the country.
As an entrepreneur, it’s important to remember that Detroit is a city of small businesses. Many entrepreneurs find isolation a difficult barrier to overcome. As an entrepreneur, you’ll likely have to network in person with people who share your vision. If you’re just starting out, that’s okay, though. The city’s entrepreneurial community is supportive, so it’s okay to start out small and grow as your business grows.
If you’re interested in selling herbs, growing them, and supplying them to companies looking for herbal ingredients are all viable business ideas. If you’re interested in selling fresh herbs, consider starting a small herb farm and supplying these to pharmaceutical and cosmetic companies. Making pet food is also a viable business. Art works can be a great source of inspiration. If you’re an artist, consider setting up an art distributor to sell your work.
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