Chris Holman has been laser focused on advocating for businesses the past two decades, conducting a twice-a-year survey with hundreds of Michigan companies that asks them to share their thoughts on how things are going.
He’s seen numerous economic ups and downs, mentioning the turbulent 2008 Great Recession, which rocked Michigan to its core, and the devastating 2020 pandemic, which sucker punched just about everyone.
But he told me he was shocked by responses from his latest survey of over 550 businesses across the Great Lakes State.
“I’ve never seen anything like this in any survey we’ve ever done,” said Holman, founder and CEO of the Michigan Business Network. The network conducted the Michigan Future Business Index (MFBI) with Cinnaire, a Lansing-based a community development and financial organization, in late 2025 and early 2026.
“I’ve never seen leaders so unnerved and concerned about the future,” he said.
The residual of the topsy-turvy tariffs from Washington, inflation and rising prices have left many shell-shocked CEOs pausing growth and expansion plans.
“Too much is changing too quickly,” he added.
They conducted the latest survey before the surprise war with Iran, launched last weekend. He told me March 5 the impact of that war is “bound to add more fuel to the level of concern of businesses.”
“You can’t bomb a country, see gas prices likely skyrocket and then expect it’s not going to negatively impact businesses who are the backbone of our economy,” said Holman, who isn’t political, his survey being nonpartisan as they have steered clear of asking about politics.
In recent years, companies have mentioned rising health care costs and talent gap needs as baby boomers retire and technology changes, impacting the ability to find workers with the right skills.
Tariffs and inflation were again mentioned among the top concerns.
One continued sore spot
Finding the right employees remains an issue for many businesses.
Jeff Metts, president of Dowding Industries located outside of Lansing, was one of the respondents who spoke with me. His wife, Chris, is CEO.
Dowding manufactures metal seats for New York City’s subway system and products for Caterpillar and others. Metts mentioned a recent phone call he had had with a job applicant looking for a job as a welder.
“He asked me if he could do the job from home,” Metts said with a laugh.
Dowding has a facility with 200 employees who manufacture products inside.
“This isn’t a work-from-home kind of job,” he added.
Metts also is tired of applicants who have reached out for jobs with other issues that prevent them from even being considered.
“It’s to the point I’m going to ask them up front if they can pass a required drug test (alas, many have failed). I’m going to say, ‘Tell me the truth now, and I’ll send you $50 and save us both a lot of wasted time.’ “
Frustration over finding good, qualified workers in the trades, white collar jobs and across most sectors remains a top concern, according to the survey.
About Cinnaire
Cinnaire, a nonprofit launched in 1993 by Mark McDaniel, provides loans and investments for affordable housing and other developments.
McDaniel, president and CEO, mentioned fallout of tariffs and inflation.
“We provide loans and investments for affordable housing, economic development, and community facilities — especially in places that don’t always have access to traditional financing,” he said, adding that the nonprofit has supported developments in Detroit, Jackson and elsewhere.
Over the past 30 years, Cinnaire has invested or lent more than $7 billion across 11 Midwest and Mid-Atlantic states and supported the development of more than 1,200 affordable housing communities, representing about 80,000 affordable apartment homes, in both urban and rural areas.
The Motor City has been a key market as they have invested more than $1 billion for affordable housing, historic preservation and other projects.
“We are in midst of a national affordable housing crisis, and Detroit is experiencing that crisis acutely,” he said. “The challenge is not a lack of demand — it’s an epidemic-level shortage of supply. Rising construction costs, materials delays, labor shortages and widespread economic and political uncertainty are making it harder to deliver housing, even when financing is available.”
He said tariffs are increasing the cost of building materials while labor shortages — made worse by immigration enforcement of both documented and undocumented workers — is disrupting construction schedules.
Development timelines are now taking roughly one-third longer than they did in the past. “Every month of delay adds cost, and that money has to come from somewhere,” he added. “The cumulative effect is that fewer projects are moving forward.”
McDaniel said Michigan’s small and midsize businesses have proven they are resilient, but resilience alone isn’t enough.
“The MFBI survey is like the canary in the coal mine,” he said. “Without steadier policy, and a more predictable environment, the pace of recovery heading into 2026 risks being slower and more uneven than it needs to be — for businesses, workers, and communities alike.”
Contact Carol Cain at clcain@cbs.com. She is senior producer/host of “Michigan Matters,” which airs 5:30 a.m. Sundays on CBS Detroit and 9:30 a.m. Sundays on CW Detroit 50. See former NBA player and entrepreneur Jalen Rose; columnist Terry Foster; WWJ Newsradio AM-950’s Brendan Schabath, and former basketball coach Rob Murphy on this Sunday’s show. You can watch the show simultaneously on the two stations’ listings on Fubu, Pluto TV, YouTube TV and Apple TV.
This article originally appeared on Detroit Free Press: Latest Michigan survey reveals how businesses are feeling
Reporting by Carol Cain, Detroit Free Press Business Columnist / Detroit Free Press
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