A recent article in Dallas Weekly. concluded that Black small business owners entered 2024 with a renewed sense of optimism and an expectation that their businesses will grow in the coming year. The article highlighted a JPMorgan Chase report, the 2024 Business Leaders Outlook survey.
Interestingly, Black small business owners are more optimistic about the U.S. business climate than small business owners as a whole. More than 3/4 of Black small business owners are feeling positive. In fact, eight of every ten Black small business owners anticipate healthy revenue increases in 2024.
Among the survey’s key findings about Black small business owners:
- 51% feel positive about the overall U.S. economy
- 57% believe capital expenditures will rise
- 44% point to inflation as their top concern
- 52% think they will need more credit this year
Viva Verde Commercial Capital: A resource for the Black business community
Rising credit needs mean many Black small business owners will be seeking affordable commercial capital. We know a successful economic climate depends on the availability of capital — and that our minority communities often lack this access.
As long-time members of the communities we serve, Viva Verde Commercial Capital helps small businesses grow and prosper with commercial real estate loans, offered at competitive rates.