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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.
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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.
Business
Considerations for owning a cash-only business
Sep 27, 2024
Cash-only business such as laundromats and carwashes can be lucrative opportunities for investors. Here’s what to know about running one.
Business
Business succession planning: Valuing your business
Sep 12, 2024
Understand the basics of business valuation and how it can help you make better-informed decisions as your company grows and you get closer to succession.
Business
The importance of business cash management
Aug 28, 2024
Managing cash effectively is a key ingredient to business success. Discover more about planning for seasonal fluctuations and optimizing the returns on your business cash.
Business
Expect the unexpected: Creating a business continuity plan
Aug 05, 2024
Learn how a business continuity plan can help keep your business operations running during an unexpected event or disaster.
1:49 - Business
Driving big dreams: Why we love empowering entrepreneurs
Jul 25, 2024
Our leaders share what they find most rewarding about helping diverse clients grow their businesses.
2:04 - Business
Scaling for growth: The keys to success
Jun 27, 2024
There are many ways to grow your business. Hear insights from seasoned CEOs on the importance of reinvesting—in employees, clients and infrastructure—for business growth.
Business
Taking the plunge: Financial planning for a startup
Jun 21, 2024
Starting a company requires a lot of financial planning. Our guide offers tips for startup founders on what to consider as they embark on their entrepreneurial journey.
Business
Business succession planning: Building an effective team
Jun 18, 2024
The first step to a successful business succession plan is building an effective team of professionals. Here are some things to consider.
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