Black small business owners more optimistic, ready for growth in 2024

Despite continuing concerns about inflation and economic uncertainty, Black small business owners are more optimistic about 2024 compared to small business owners overall, according to JPMorgan Chase’s 2024 Business Leaders Outlook survey. Optimism this year starts at home, with Black (77%) small business owners more positive about the outlook for their own businesses, compared to all small business owners surveyed (69%). Those high hopes are figuring into their 2024 projections – 80% of Black small business owners expect substantial increases in revenue and sales compared to 69% of small business owners overall. “We’re seeing that diverse small business owners are ready to hit the accelerator on growth in 2024 in order to reach their goals,” said Mikal Quarles, Head of Community Business Strategies for Chase Business Banking. “It’s all about access, whether that’s access to capital or opportunity. Through programs like our complimentary one-on-one coaching or Special Purpose Credit Program, diverse entrepreneurs gain access to resources that help get their small businesses to the next level.” Here are the survey’s top 5 takeaways: It’s going to be a good year In addition to expressing confidence in their own businesses, more than half (51%) of Black small business owners expressed optimism...