Leadership
Elevating Black Entrepreneurs Today
Curtis Reed, Chicago Region Manager for Middle Market Banking at JPMorgan Chase, discusses some of the unique hurdles that Black business owners face today, actions to help overcome some of these challenges, and the role of business community in driving change.
Curtis Reed, Chicago Region Manager for Middle Market Banking at JPMorgan Chase, discusses some of the unique hurdles that Black business owners face today, actions to help overcome some of these challenges, and the role of business community in driving change.
A recent study conducted by the JPMorgan Chase Institute found that Black-owned businesses often face lower revenues, profit margins and access to cash. Between February and April of 2020, over 400,000 Black-owned businesses shuttered, making up 41% of those that permanently closed their doors during this time. These numbers are eye-opening. but there are several actions that Black business owners can take to better position their businesses for success.
The business community also needs to lean in, and JPMorgan Chase is committed to being part of this change.
Key Highlights include:
- Optimizing working capital and cashflow
- Leaning into digitization
- Focusing on adaptability and resiliency
Curtis Reed, Chicago Region Manager for Middle Market Banking at JPMorgan Chase, outlines these actions and ways the business community can help Black-owned businesses in the Chicago Crusader.
