Thursday, December 03, 2020

Creativity is king. Black-owned U.S. businesses have responded to unprecedented times by shifting priorities, rethinking cash flow and seeking new opportunities — which may come from unlikely places.

At OZY, we have rededicated our editorial mission to paving the path toward racial justice in America, whether it’s highlighting African Americans on the rise in various fields or new trends that will soon fuel prosperity in Black communities. JPMorgan Chase & Co., meanwhile, is responding to these challenging times by making a new $30 billion commitment to advance racial equity. So we’re teaming up to elevate creative solutions to these vital issues. Read on for more.

1. How to Survive the Next Crisis

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 & Co.’s Advancing Black Pathways program.

2. A $30B Commitment to Advance Racial Equity

JPMorgan Chase & Co. is building on existing investments with a $30 billion commitment over the next five years to drive an inclusive recovery, support employees and break down barriers of systemic racism.

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3. An Essential Shift to Protect Health Care Workers

The founders of luxury clothing maker Pound Cake Society got their big break with a retail partnership — and then COVID-19 hit. With just 48 hours to decide the crucial next step for their small business, they found a new model that kept them running and protected hospital workers nationwide.

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