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Melissa Smith Debunks Myths About Starting a Business
In this video interview with ChedHER, Melissa Smith, Head of Specialized Industries for Middle Market Banking, breaks down the myths that prevent entrepreneurs from launching their businesses—and discusses how J.P. Morgan is building a dedicated ecosystem around innovative new companies.
In today’s economy, startups are growing at a faster clip and basic banking needs can quickly turn complex as companies scale and grow more sophisticated, especially for companies in technology, disruptive commerce and life sciences. J.P. Morgan is building an ecosystem around high-growth companies in the Innovation Economy, with dedicated teams of bankers that help startups grow and scale from opening a bank account on day one to expanding internationally to a potential IPO and beyond—as well as providing connectivity to the firm’s network and venture capital community.
Companies in the innovation economy that are growing and scaling very rapidly face unique challenges and have unique needs. So we’ve carved out a dedicated team of bankers that have not only industry expertise, but also are very fluent in what those unique needs are.
Melissa Smith, Head of Specialized Industries, Middle Market Banking
Key points:
- Startups in the innovation economy face unique needs and challenges, which J.P. Morgan is working to address
- Myths about starting a business include: you need a full business plan to get started, there’s a perfect time to start, and founders should be working around the clock
- Women, minority and veteran-owned businesses get a disproportionately small share of VC funding; J.P. Morgan is working to change that with both the capital and technical assistance they need to grow
