ist magazine April 2023
By John Simmons, Head of Middle Market Banking & Specialized Industries, JPMorgan Chase Commercial Banking & Ben Walter, CEO, Chase Business Banking (BPT) NO matter their size, location or industry, businesses across the coun try have been hit by inflation in the last year, forcing leaders to use a variety of creative strategies to combat rising costs. While these inflationary pressures show some signs of easing, business leaders’ sentiment around recession expectations raises important questions for businesses on whether they’re prepared for the next big economic challenge. How Business Leaders Can Prepare for a Possible Recession this Year
In the JPMorgan Chase 2023 Business Leaders Outlook survey, we uncovered just how widespread inflation’s impact has been for business owners nationwide and how it and other pressures have contributed to a challenging business outlook. Unsurpris ingly, the vast majority of small (94%) and midsize (91%) businesses are experiencing pricing pressures that are affecting their bottom line, while the majority of small (61%) and midsize (65%) business leaders anticipate a recession some time in 2023.
Made with FlippingBook - Online magazine maker