Success Made to Last with Jim Glassman of JPMorgan Chase talking about small biz

Our special guest is Jim Glassman, Head Economist for JPMorgan Chase Commercial Banking. As the new economic year gets underway and businesses feel the pain and learn lessons from last year’s coronavirus pandemic, small business and consumers are planning for 2021. That’s according to results of the annual JPMorgan Chase Business Leaders Outlook survey. The impact of the COVID-19 pandemic on small businesses and Americans overall shows that half believe their personal values have changed due to the pandemic, with increased focus on health and expectations that the increased amount of quality time they’ve now become used to spending with family and friends, will become permanent. The pandemic has also had a profound impact on shifts to how and where people work. On average, 78% of small businesses have had all or some of their employees working remotely since the start of the pandemic.  Top of mind considerations for small and midsize businesses include saving for a cash buffer and creating contingency plans in an ever-evolving landscape. According to the results of the survey, 20% of small businesses expect to offer more contactless payment options,  Small and midsize business leaders continue to take actions to prepare for potential cyber-related threats, such as malware/ransomware. The three most common actions taken were: ·       Prioritizing employee education and training ·       Developing proactive counter measures ·       Purchasing cyber insurance  Become a supporter of this podcast: https://www.spreaker.com/podcast/success-made-to-last-legends--4302039/support.