A May 2026 survey by Chase revealed that 40% of small-business owners intend to retire within the next decade. However, 70% of these owners lack a formal succession plan, and only 8% report being fully prepared for a business transition.
McKinsey reported in February 2026 that approximately six million small and medium-sized businesses will undergo ownership changes by 2035. The firm estimates that up to $5 trillion in enterprise value is at risk if these transitions are not managed effectively.
JPMorgan launched the American Dream Initiative on March 31, 2026, to support generational business transfers. The program includes a commitment of $80 billion for small-business lending over the next ten years.
The bank aims to increase its small-business client base from seven million to 10 million. To support this growth, JPMorgan plans to hire 1,000 additional bankers and provide mentorship to 115,000 entrepreneurs, focusing initially on markets including Los Angeles, Atlanta, and Philadelphia.
Stevie Baron, CEO of Chase Business Banking, noted in August 2026 that potential changes to the GSIB surcharge under Basel III regulations could increase borrowing costs for small businesses by affecting the capital available for lending.
