JPMorgan Chase CEO Jamie Dimon said Wednesday that the country's small businesses are experiencing a "mini boom," telling Yahoo Finance during a visit to Washington that growth in new small businesses is far stronger than it has been. The remarks come as JPMorgan makes a policy push in Washington under a broader plan announced earlier this year to deploy $80 billion in capital and add 1,000 more small-business bankers. As part of that effort, JPMorgan is hiring 300 small business bankers next year, including 25 business consultants, aiming to add 3 million small business customers over the next several years after adding 3.1 million over the last five years. Through August, Americans filed 4.3 million business applications, the highest total for the first eight months of the year since the government began tracking the data in 2004, according to the US Census Bureau. Treasury Secretary Scott Bessent has also touted a potential boom among smaller firms, pointing to AI, while JPMorgan's head of business banking, Stevie Baron, noted that sticky inflation, input costs and healthcare costs remain real issues for small businesses.
JPMorgan Chase & CoJPMorgan is hiring 300 small-business bankers and targeting 3 million new small-business customers amid a 'mini boom' in small-business formation.
