This is the year of the comeback. As small businesses are preparing to bounce back from a brutal 2020, JPMorgan Chase & Co. is standing with them.
With programs to build up women-owned businesses and an unprecedented investment in closing the racial wealth gap, JPMorgan Chase is stepping up for underrepresented groups in the business world. At OZY, our global coverage elevates unheard voices, and we have rededicated our editorial mission to explore the path toward racial justice. To advance creative solutions to today’s challenges in our communities, OZY and JPMorgan Chase are teaming up. Read on for more.
No one could have foreseen a crisis like the pandemic. But businesses — particularly Black-owned firms that are traditionally undercapitalized — can prepare for the next one now. The road to financial health includes revisiting our spending priorities, says Tosh Ernest, head of wealth at JPMorgan Chase’s Advancing Black Pathways program.
We all know that living paycheck to paycheck is a gamble, and that’s especially true for businesses. Expanding cash flow and liquidity is vital to having greater access to capital when it’s needed, says Samantha Saperstein, head of JPMorgan Chase’s Women on the Move initiative, which helps female entrepreneurs start and grow their businesses.
No single company can close the racial wealth gap. But as America’s biggest bank, JPMorgan Chase has a responsibility to try while collaborating with others. Brian Lamb, global head of diversity and inclusion, lays out the path forward, from lending to hiring and more, noting that “it’s a congenital defect of our society that’s resulted in racial gaps across virtually every walk of American life.”