Ford students assist Detroit small business owners with re-opening challenges

Ford students assist Detroit small business owners with re-opening challenges

The economic havoc caused by the COVID-19 pandemic has been especially disruptive to small businesses, which often depend on foot traffic and operate on smaller profit margins than their larger counterparts. As Michigan prepares to reopen its economy, small business owners are struggling with the financial viability of their businesses, the concerns of their families and their employees’ families, the needs of their customers, and the risks COVID-19 poses to their communities.
The University of Michigan’s Center on Finance, Law, and Policy, housed in the Ford School of Public Policy, has been awarded an $80,000 grant from the Ralph C. Wilson, …

Dean Barr on the need to do more for communities and small businesses

Dean Barr on the need to do more for communities and small businesses

Hundreds of billions of dollars have been allocated to help small businesses and individuals in response to the COVID-19 financial crisis. Yet for low-income households and small businesses, accessing those funds has proved to be a challenge, according to Ford School Dean Michael Barr. In two commentaries, Barr argues that policy changes can help reach these underserved, under-banked communities.
More than 8 million households in the United States lack any savings or checking account, according to government data. And many banks approved by the Small Business Administration to process applications for the Paycheck Protection Program, or “PPP,” only worked with businesses …

New U-M interdisciplinary clinic assists Detroit entrepreneurs

Two weeks ago, 22 students from the Law School, the Ross School of Business, and the Stamps School of Art & Design plus 10 faculty members from those same schools gathered in an unremarkable Ross classroom for what is the beginning of a remarkable experience: the launch of a new interdisciplinary clinic at the University of Michigan known as the Detroit Neighborhood Entrepreneurs Project (DNEP).
DNEP is a cross-school engaged learning experience that brings together law students, business students, art and design students, and engineering/computer science students into interdisciplinary teams to provide advice and services to selected Detroit entrepreneurs. According to …

Center on Finance, Law, and Policy secures grant to assist Detroit entrepreneurs

Students interview a pop-up restaurateur in Detroit as part of the Detroit Neighborhood Entrepreneurs Project.
Photo credit: Abigail DeHart ’19L

The Center on Finance, Law, and Policy, run by faculty director Michael Barr, has received a $125,000 grant from JPMorgan Chase for the Detroit Neighborhood Entrepreneurs Project.
The project, an interdisciplinary initiative involving the University of Michigan’s Law School, Ross School of Business, and Stamps School of Art & Design, helps Detroit neighborhood-based small businesses navigate a range of growth challenges including incorporation, intellectual property protection, automation, and more.
Student and faculty teams provide individual, direct service to entrepreneurs to address their most pressing …