Competition is a fantastic thing. When you are trying to be better than the guys down the street and they in turn are trying to outdo you, both of you are improving and getting better. Sometimes we think of our competitors as bad; like they are stealing our potential customers or clients. Looking at the situation from the right angle will change that. You always want to be improving your business and providing the best possible product or service for your customers or clients. Doesn’t competition spur that motivation to stay the best that you can be?
A competition that is developing is bigger than just that between a couple of businesses. Grand Rapids, Michigan has been developing into quit the entrepreneurial community. With groups like Start Garden, Grand Angles, LINC, the Goei Center and other incubators, Grand Rapids offers a number of resources for startups, small businesses, and entrepreneurs. But Muskegon, Michigan is developing its own entrepreneurial community.
Muskegon already has resources like the Michigan Alternative & Renewable Energy Center and the Muskegon Retail Incubator, but they are about to get another resource. The Muskegon Angels have launched and expects to close its first investment by this spring. This angel investment group is comprised 22 investors that have agreed to commit $125,000 over five years, or $25,000 annually, creating a pool of capital totaling $2.75 million.
While comparable to other angle investing groups, the $2.75 million is not overwhelming but it’s a start. It also provides an alternative option for entrepreneurs in the Muskegon area to get their businesses off the ground. But one of the even bigger resources that come with the funding is the knowledge and guidance of the 22 investors with a wealth of business experience.
With a burgeoning entrepreneurial community in Muskegon, will we see other cities in West Michigan respond? Will we see similar growth in the Holland area? Will Grand Rapids continue to add to its resources in order to attract the best and brightest? These things can only be answered in the future but competition is nice.
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