2025 DMB Summit champions collaboration as key to economic growth for Detroit small businesses

• Nearly 200 Detroit entrepreneurs gathered at Hollywood Casino Detroit for the 2025 Detroit Means Business Summit, themed “Return to Collaboration,” focusing on how ecosystem partners can work together to better serve local businesses

• Summit addressed critical challenges facing small businesses, including record-high inflation concerns (58% of businesses nationwide) and capital access issues that remain the top challenge for Detroit-area entrepreneurs

• Event featured industry-specific workshops for beauty, childcare, and food businesses, plus expert panels on adaptive strategies and collaborative partnerships led by successful Detroit business owners and national leaders

• Major sponsors Bank of America, Walker-Miller Energy Services, and DTE Energy supported the Detroit Economic Growth Corporation’s annual flagship event, which connects entrepreneurs with business resources and assistance programs

JUNE 2, 2025 (DETROIT) —  Nearly 200 Detroit business owners gathered at the Hollywood Casino Detroit for the 2025 Detroit Means Business Summit, themed “Return to Collaboration.” The day-long event brought practical solutions and genuine connections to entrepreneurs facing today’s toughest business challenges, with a focus on how ecosystem partners can work better together to serve Detroit’s business community and help local entrepreneurs thrive despite economic uncertainty.

The summit tackled head-on the issues keeping business owners up at night, including the struggle to access capital – still the biggest headache for small business owners – and inflation worries that have hit record highs, with 58% of small businesses nationwide calling it their top challenge.

Workshop sessions got down to business, offering real-world advice for beauty and barber shop owners, childcare providers, and food industry entrepreneurs. Participants also dug into building operations that can weather storms and land the kind of partnerships that make a real difference. These sessions directly addressed the headaches plaguing small businesses everywhere – finding skilled workers, dealing with constantly changing federal policies, and managing higher borrowing costs.

“Detroit’s business community continues to demonstrate incredible resilience and innovation,” said Kevin Johnson, president and CEO of the Detroit Economic Growth Corporation, responsible for managing Detroit Means Business. “This summit provides entrepreneurs with the tools they need to not just survive, but to thrive and create lasting economic impact in our city.”

Collaboration was the heart of everything. The keynote on “The Power of Collaboration” featured Melissa Butler, who built The Lip Bar from the ground up. Detroit Means Business Senior Program Manager Tekeyah Gaines facilitated the session, showing how smart partnerships can turbocharge business growth and create the kind of staying power that keeps companies competitive.

“Collaboration isn’t just a buzzword. It’s a business strategy that transforms individual success into community-wide economic development,” said Carla Walker-Miller, founder and CEO of Walker-Miller Energy Services, who served as a Trailblazer Sponsor for the event. “When Detroit businesses work together, we create opportunities that benefit everyone.”

The day’s standout panel, “Don’t Panic, Pivot: Finding New Ways to Work Together,” brought together Detroit business veterans to provide tangible solutions for entrepreneurial challenges. Tony Stovall from Hot Sam’s Detroit, Espy Thomas from Sweet Potato Sensations, and debt survivor Ebony Cochran shared war stories and winning strategies with business coach LaNasia Buck leading the conversation. They talked about how Detroit businesses have learned to roll with economic punches, including the red tape and compliance issues that bog down 57% of small businesses, while still finding ways to grow despite rising costs and supply chain headaches.

Roundtable discussions got specific about industry challenges, with Joe Dudley Jr. of Dudley Direct talking about beauty and barber businesses, First Children’s Finance Team diving into childcare operations and culinary experts sharing food industry know-how. Local business support organizations were on hand all day, connecting entrepreneurs with ongoing help – something that’s badly needed since only half of Detroit-area businesses have their financial statements ready when opportunity knocks.

The summit also tackled bigger-picture issues through policy sessions with the National Equity Initiative (NEI), addressing the systemic roadblocks that make it harder for minority-owned businesses to succeed and offering real strategies for making change happen.

The event drew support from major players including Bank of America, Walker-Miller Energy Services, and DTE Energy, along with backing from NEI and other community partners. The Detroit Economic Growth Corporation powered the summit as part of its ongoing mission to help small businesses succeed in the city.

"The DMB Summit continues to be a dynamic force, allowing local business leaders and entrepreneurs to engage and connect to continue to help strengthen the city’s economic development,” said Ed Siaje, president, Bank of America Detroit. "We understand how critical it is to support small business owners in Detroit, and we’re proud to partner with the DEGC and the summit towards its mission."

About Detroit Means Business 

Detroit Means Business (DMB), a subsidiary of the Detroit Economic Growth Corporation (DEGC), is a coalition of business support organizations and government agencies that was established to help champion the success of small businesses and entrepreneurs in Detroit, Michigan. The coalition’s primary objective is to provide small business owners with the resources and support they need to survive and thrive in Detroit’s economy. This includes access to financing, training, technical assistance and other resources. Together, DMB and DEGC collaborate on resource-sharing, networking events, policy advocacy, targeted initiatives, and data analysis to enhance their collective impact and empower the growth and success of Detroit’s small business community.