Small Business Owners – Catalysts for Economic Growth
SPONSORED CONTENT FROM
JPMORGAN CHASE & CO.
businesses, defined as companies with fewer than
500 employees, and a staggering 99 percent of all
U.S. companies fall under the “small business” designation, according to the Small Business Association.
particular say they’re optimistic about the year ahead, and the number of new businesses formed in cities like Chicago is at an all-time high – in Chicago, new business formation is up 64% over the last three years.
said Mikal Quarles, head of Chase Business Banking Racial Equity Strategies. “It’s important that we provide them with tools, resources and network capital to help them take their business to the next level and create and sustain wealth long-term.”
small businesses, banks play a critical role as catalyst in
small business success. Over the last few years, JPMorgan Chase has doubled-down on its commitment to help minority-owned business succeed, including through its $30 billion Racial Equity Commitment that seeks to help close the racial wealth gap, such as through new mentorship programs, events, and expanded access to credit for business owners.
and information available to help them at any stage of their business. Whether it’s looking for guidance on how to start or grow a small business, or access financial tools, here are some important steps to consider:
a few important foundational pieces, including writing a
business plan, establishing a business bank account and applying for and filing the right permits and licenses. Also, prospective business owners should think through their business structure – will they be a sole proprietor, operate an LLC or choose another structure? Gathering funds and deciding where to do business are two more key steps to take before finally launching a company.
simplify processes like invoicing and payments.
coaching program to 45 trained senior business consultants in 21 U.S. cities, where they’re providing mentoring and advice to Hispanic, Latino and Black business owners within the community on everything from boosting creditworthiness to managing cash flow to effective marketing.
success by integrating new practices and products that
drive more equitable outcomes,” said Carolina Jannicelli, head of JPMorgan Chase’s Community Impact division, which facilitates the firm’s Racial Equity Commitment. “Our commitment is simply a starting point that is transforming our overall work as a company, driving business and more inclusive economic growth.”
business, check out chase.com/business/knowledge-center/
- Treasurer Maria Pappas unveils online tool that shows where property tax dollars go as Dec. 1 tax due date looms
- Damage from the September Storms and Flooding? Apply for Federal Assistance
- CHA announces new “Restore Home” initiative; major capital effort will rehabilitate nearly 200 vacant apartments in small and medium buildings in 2024-25
- FROM ADVERSITY TO VICTORY: DIXMOOR VIKINGS 11U AND 10U TEAM EYE SUPER BOWL GOLD IN ORLANDO, FLORIDA
- ROBBINS EAGLES 13U TEAM MAKES HISTORIC BREAKTHROUGH, ADVANCING TO AYF NATIONAL CHAMPIONSHIP FOR THE FIRST TIME IN 40 YEARS
- Sheriff’s Office and Housing Authority of Cook County Distribute Free Turkeys to Cook County Residents
- Azazie and The Bachelorette Star, Charity Lawson, Collaborate on Ultimate Bride-to-Be Holiday Gift Guide
- JANELLE MONÁE JOINS MILK TO CELEBRATE FEMALE MARATHONERS IN NYC
- FENDER HONORS BRUNO MARS WITH ARTIST SIGNATURE STRATOCASTER® GUITAR
- GYMGUYZ Unveils Online Personal Training Studio to Meet Demand for Enhanced Virtual Fitness