The business landscape is complex, and entrepreneurs often face challenges as they seek to scale. These range from limited access to capital and smaller contracting opportunities to cash liquidity vulnerabilities and difficulty navigating economic uncertainty.
Black-owned businesses play critical roles in their communities, yet owners and entrepreneurs aspiring to reach their professional and business goals face significant obstacles.
Recent Federal Reserve data highlights the significant growth potential for these businesses: 61% of Black-owned startup employer firms plan to add employees, compared to 52% of white-owned employer firms—yet the Black-owned firms are three times less likely to have professional support networks that facilitate growth, like accountants and business advisors.
Holistic support systems are critical to ensuring all business owners can drive growth, create wealth and make lasting impacts in their communities.
The resources we’ve gathered offer insights and stories to inform and inspire. We’re highlighting examples of strong leadership, resilience, creativity, strategic planning, networking and certification programs. By learning from others who have built successful companies and overcome challenges, future generations of entrepreneurs can set their own paths toward success.
Building a strong financial foundation is critical for business growth. Explore funding options, learn about different types of capital and discover strategies for presenting your business to potential investors and lenders.
$61.2B
Annual payroll of Black-owned U.S. businesses, according to the U.S. Census Bureau’s 2023 Annual Business Survey
Ready to take your business to the next level? These resources offer guidance on managing expansion, handling your first major contracts and building systems that support sustainable growth.
Successful entrepreneurs adapt to changing market conditions. Gain insights and best practices for overcoming challenges and positioning your business for long-term success.
“It's really critical that you provide quality service and product. Forget being diverse. What you do is more important than what you look like.”
—Joe Blackstone, founder and president of Blackstone Consulting
Connect with corporate and government buyers looking to diversify their supply chains. Learn more about certification processes, identify contract opportunities and prepare your business to compete for larger opportunities.
Supplier diversity central: What to know and where to go (hub)
Strong networks and mentor relationships help businesses thrive. Discover opportunities to connect with other leaders, learn from their experiences and build relationships that support your growth.
Justin Christian, founder of BCforward
Learn more about our initiatives, investments and collaborations aimed at advancing economic opportunity and inclusion.
JPMorgan Chase Bank, N.A. Member FDIC. Visit jpmorgan.com/commercial-banking/legal-disclaimer for disclosures and disclaimers related to this content.