Detroit Legacy Business Project

Detroit Legacy Business Project is sponsored by Detroit Economic Growth Corporation (DEGC). Supports long-standing Detroit businesses with modernization and stabilization funding. It is a real current program, but government applicants are not eligible.

Detroit launches Round 2 of Legacy Business Project with new microgrant program Introduction of 15 new microgrants ranging from $2,500 to $5,000 30 total grants available: one $50,000 citywide grant, 14 district-specific $15,000 grants and 15 microgrants Applications open Aug. 25 through Oct.

6, 2025 Program supports businesses amid national succession planning trends August 25, 2025 (DETROIT) — Detroit Council President Mary Sheffield, The City of Detroit and Detroit Economic Growth Corporation (DEGC) announced the second round of the Detroit Legacy Business Project today at Mac Galleries on Livernois Avenue of Fashion, introducing a new microgrant program that expands support for the city’s cherished legacy businesses.

The innovative program recognizes Detroit’s commitment to preserving businesses that have shaped the city’s cultural identity for three decades or more.

Building on Michigan’s entrepreneurial momentum — where small businesses have shown resilience with revenue growth outpacing national averages in recent years — the program expansion provides targeted support to address business succession planning, a nationwide trend affecting family-owned enterprises.

With nearly two-thirds of family-owned businesses nationally lacking documented succession plans , Detroit is taking a proactive approach to ensure its legacy businesses continue thriving for future generations.

Round 2 will award 30 grants totaling $310,000: One $50,000 citywide grant 14 $15,000 grants (seven per council district and seven at-large) “The Detroit Legacy Business Project is not just about preserving businesses — it’s about preserving the stories, communities and legacy that make our beloved City unique,” said Detroit City Council President Mary Sheffield.

“By investing in these long-standing businesses, we are ensuring that Detroit’s rich history remains an integral part of our culture and empowering future generations of entrepreneurs to build upon that foundation. ” The microgrant program addresses the needs of smaller legacy businesses that may not require larger grant amounts but can benefit from targeted support for growth initiatives.

Research suggests “lack of capital” as a primary concern among small business owners, making Detroit’s proactive funding approach particularly valuable for business sustainability.

“As the City of Detroit works to create the jobs of the future, we are excited to invest in the entrepreneurs and legacy businesses that have served as foundations in our communities,” said Justin Onwenu, director of Entrepreneurship and Economic Opportunity for the City of Detroit.

“Small businesses are drivers in economic growth, and we are excited to make needed investments to ensure that they continue to thrive in the City of Detroit. ” The initiative targets businesses operating in Detroit for at least 30 years that have shaped the city’s cultural identity. This focus addresses an important national trend as many successful business owners approach retirement age.

Detroit’s program provides crucial support during ownership transitions, helping preserve businesses that serve as community anchors.

Eligibility requirements and allowable uses: Physical operation in Detroit for minimum 30 years Independently owned and operated businesses Open to the public with regular business hours Current City of Detroit compliance (licenses, taxes, permits) Demonstrated cultural impact on Detroit or specific neighborhoods Equipment upgrades and new hardware Business beautification and physical enhancements Technology improvements and upgrades Professional services (legal, accounting, marketing) Landscaping and curb appeal improvements Michigan’s small business sector has demonstrated notable resilience, with the state home to 902,000 small businesses employing 1.

9 million people — nearly half of the state’s private workforce. While some sectors like manufacturing and hospitality continue adapting to evolving workforce needs, Detroit’s legacy business initiative provides targeted support to help established businesses navigate transitions and capitalize on growth opportunities.

Lauren Stovall, whose family operates the 104-year-old Hot Sam’s – Detroit’s and Michigan’s oldest men’s clothier – served as a catalyst for launching the project due to her consulting experience with legacy businesses.

“I have come to have a unique burden for legacy businesses for several years,” said Stovall, founder of the Institute Legacy Preservation, Inc. “I came to recognize them as a unique and set apart sector within the general small business sector, and I believed there was more that we as a community and city could do to honor and serve them.

It’s important that we help to preserve them as pillars and anchors that serve as cultural assets of the city and within the community. ” The microgrant program features streamlined application requirements and first-come, first-served selection for eligible applicants, making funding more accessible to smaller businesses. These investments are designed to help businesses grow and better serve their communities.

“Legacy businesses are more than just storefronts — they’re job creators and second-chance employers who’ve supported Detroit families for generations,” said Sean Gray, vice president of Small Business Services at the Detroit Economic Growth Corporation. “These businesses have shown incredible resilience through Detroit’s ups and downs, often being the first to give opportunities to returning citizens and local residents.

This initiative helps ensure they can continue serving as economic anchors in our neighborhoods for decades to come. ” The application period opens August 25, 2025, at 11 a. m.

and closes October 6, 2025, at 8 a. m. Grant recipients will be announced on November 20, 2025.

Business owners can learn more about eligibility requirements and apply at detroitmi. gov/opportunities/detroit-legacy-business-project . Detroit Economic Growth Corporation is a non-profit organization that serves as Detroit’s lead implementing agency for business retention, attraction and economic development.

DEGC is led by a board comprised of business, civic and community leaders. Its staff provides services for key public authorities that facilitate incentives and other forms of financing for projects that bring new jobs and investment to the City. DEGC also manages important initiatives to support small businesses and grow neighborhood commercial corridors.

DEGC is dedicated to inclusive development and access to economic opportunity.