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Today, the JPMorgan Chase Institute released new research, showing the correlation among characteristics like home values, college education and the racial, ethnic, and foreign-born composition of Miami communities and significant factors of small business financial health. Given data from a sample of 52,000 businesses operating in all 178 Miami ZIP codes and a panel sample of 32,000 Miami small businesses active in 2013, the JPMorgan Chase Institute determined that, three out of four small businesses in Miami turn a profit, yet many have limited cash liquidity.
In 2017, Miami had the 12th highest metropolitan area gross domestic product (GDP) in the country, which accounted for over two percent of the national GDP. Small businesses might have benefitted from and contributed to Miami’s economic strength, with the median profit margin of Miami small businesses being 13.9 percent. However, many small businesses had limited cash liquidity. One-third had seven or fewer days of cash liquidity, while less than half of small businesses had at least fourteen cash buffer days – or the number of days a business could withstand spending without income.
“Analyzing how community characteristics – especially in vibrant, urban communities like Miami – correlate to the financial health of small businesses within those communities is a key factor in understanding small business outcomes,” said Diana Farrell, President and CEO of the JPMorgan Chase Institute. “This report aims to identify where growth could be contributing to Miami’s economic strength.”
This report builds on previous research from the JPMorgan Chase Institute on community-level differences in small business financial outcomes, exploring how profit margin and cash liquidity differ across communities and how socioeconomic conditions may vary given the financial performance of small businesses.
The new report, “Small Business Financial Outcomes in Miami Communities,” finds that:
Overall, this report describes the financial health of Miami’s small business sector, identifying where any business growth may be contributing to Miami’s economic strength.
About the JPMorgan Chase Institute
The JPMorgan Chase Institute is a think tank dedicated to delivering data-rich analyses and expert insights for the public good. Its aim is to help decision makers–policymakers, businesses, and nonprofit leaders–appreciate the scale, granularity, diversity, and interconnectedness of the global economic system and use timely data and thoughtful analysis to make more informed decisions that advance prosperity for all. Drawing on JPMorgan Chase & Co.’s unique proprietary data, expertise, and market access, the Institute develops analyses and insights on the inner workings of the global economy, frames critical problems, and convenes stakeholders and leading thinkers. For more information visit: JPMorganChaseInstitute.com.
JP Morgan Chase-Aktie: Lohnt sich der Einstieg jetzt? (Info...)JP Morgan Chase ist ein Unternehmen aus dem Sektor Finanzen und stammt aus den USA. ...weiterlesen