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As 2025 begins, small business owners are finding reasons to be optimistic despite ongoing
challenges. According to JPMorgan Chase’s 2025 Business Leaders Outlook Survey,
confidence is growing within the sector. Over 70% of small business owners reported feeling
“optimistic” or “very optimistic” about their industry and company performance in the coming
year. Notably, diverse business owners are showing even greater optimism about the economy
at local, national, and global levels. Among them, Black small business owners displayed the
highest levels of optimism across all five measured categories: the global economy, national
economy, local economy, industry performance, and their company’s performance. This year,
they plan to increase reliance on a variety of funding sources to drive their businesses forward,
outpacing the broader small business community.

Economic optimism is steadily rising among Black-owned small businesses. Over 60% of these
business owners expressed confidence in the local, national, and global economy, with nearly
80% feeling positive about their industry’s performance and their company’s growth potential.
However, this optimism is tempered by a cautious outlook. While many businesses have moved
beyond the uncertainty of the pandemic years, diverse-owned businesses remain slightly more
likely than others to anticipate a recession in 2025. Among Black-owned businesses, 29%
foresee the possibility of an economic downturn. This outlook highlights a balance between
resilience and an awareness of potential economic shifts.

“It has always been a goal of ours to ensure that we retain and/or refine our target customers, as well as gain new ones. We will continue our efforts of being community-focused through community acknowledgments and engagement by choosing a Sweetster of the Month. Weekly Sweet Reminders posted to social media allow the opportunity for customers to give valuable feedback. They also have a chance to win a custom dessert by sharing the posts, which in turn brings more attention to our pages, website, and storefront. Once the attention of the potential customers has been captured, whether they choose to engage with us via email, social media, or in person, we take the opportunity to provide the best representation of the products and services that we have to offer, through showcasing who we are, our values, and professionalism. It is the exceptional and elevated experience that shifts them from a potential customer to a repeat customer, therefore becoming a member of our Sweetster family. We have strategically planned our evolution as a business. It is imperative that we expand the territory that we serve by making our way into people’s homes. This year, we are committed to: shipping our products across the country, intentionally seeking ways to leverage our M/WBE certifications to secure more business for our small, family-owned business, and offering expanded services through our Two Sweet Sisters Enterprises Brand. Most importantly, we will continue to build community partnerships and relationships.” – Yolanda Bledsoe, Co-Founder of Two Sisters Sweet Creations.

Inflation remains the top concern for small business owners heading into 2025. However, Black
business owners are uniquely attuned to cybersecurity challenges, which they rank as their
second most pressing issue—surpassing concerns about general economic uncertainty. Rising
taxes are another critical concern for all small business owners, demonstrating the heightened
importance of managing external risks to safeguard operations.

Funding is another area where Black-owned businesses are taking a proactive approach. These
businesses are more likely than the broader small business community to explore various
funding sources, including lines of credit, online loans from fintech or alternative lenders,
personal credit cards, angel investments, venture capital, and crowdfunding. Notably, 73% of
Black-owned businesses plan to use online lending in 2025, compared to 55% of overall
respondents. This strategic focus on securing funding underscores their commitment to scaling
their operations.

Hiring plans for 2025 are equally ambitious. Black-owned businesses anticipate substantial
increases in their workforce, with 71% planning to hire more full-time employees and 55%
expecting to increase part-time staff. These numbers exceed the broader small business
community, where 46% foresee full-time hiring growth and 38% plan for part-time hiring. Despite
this optimism, recruitment challenges persist. Ninety percent of Black-owned businesses
express concerns about finding the right candidates, with employee turnover and retirements
identified as primary obstacles. Similar concerns are echoed across the broader business
community, highlighting an industry-wide need for effective hiring strategies.

Economic optimism is on the rise among diverse-owned small businesses, particularly
Black-owned enterprises, which report greater confidence in the local, national, and global
economic outlook than their peers. While there are ongoing concerns about a potential
recession and the challenges of hiring, these businesses are determined to grow. By expanding
their workforce and accessing strategic funding, they are positioning themselves for success
and showcasing their resilience as they enter 2025.

Disclaimer:
The views and strategies discussed in this article are for informational purposes only and may
not be suitable for all businesses. Information provided has been obtained from reliable sources
but is not guaranteed for accuracy or completeness. JPMorgan Chase & Co. and its affiliates do
not offer tax, legal, or financial advice. Always consult professionals regarding your specific
needs. Past performance is not indicative of future results. Products and services are offered by
JPMorgan Chase Bank, N.A., Member FDIC, and Equal Opportunity Lender.
© 2025 JPMorgan Chase & Co.

The post Black-Owned Small Businesses Are Optimistic About 2025 Economic Prospects appeared first on Dallas Weekly.