Black-owned small businesses more optimistic about 2025 economic outlook

As we enter 2025, small business owners are finding a silver lining amidst challenges. The latest JPMorganChase’s 2025 Business Leaders Outlook Survey reveals a wave of optimism sweeping through the sector. More than 70% of small business owners express confidence, feeling “optimistic” or “very optimistic” about both their industry’s and their company’s performance in the coming year. Notably, diverse business owners are showing greater optimism about the economic landscape at local, national, and global levels. Black small business owners had the most positive perspective of all participants in each of the five categories: global economy, national economy, local economy, industry’s performance, and company’s performance. This year, they plan to rely more on all types of funding for their businesses compared to all business owners. Here are five key findings from this year’s survey. Economic optimism grows each year… More than 60% of Black small business owners expressed optimism about the state of the local, national and global economy. Close to 80% had the same optimism about their industry’s performance or their own company’s performance. …but some concerns exist While small businesses seem to have left the economic uncertainty of the pandemic years behind, diverse-owned businesses remain more cautious about the...