At JVC 2023, Jessica Evans, Senior Vice President of Commercial Banking at First Citizens Bank, emphasized the importance of strong partnerships for small businesses. She highlighted effective communication, trust, shared values, and celebrating milestones as key factors in building successful relationships.
Jessica stressed the need for collaboration among stakeholders such as bankers, insurers, and business advocates. She emphasized that they should work together, communicate, and celebrate important milestones to show genuine interest in the company's growth. She also emphasized the significance of finding banking partners that align with a business's values. Having a bank that reflects the company's core values provides essential support and guidance.
Phil Kimball, CFO of Major Concrete, shared his startup story as an example of the power of trusted relationships and supportive networks. He acknowledged the struggles faced by small business owners and highlighted the importance of trusted partners, including angel investors and banking professionals, in providing financial support and guidance.
The discussion briefly touched on the potential for leveraging innovation and technology to improve Public-Private Partnerships (P3s). Jessica mentioned the importance of open communication, embracing change, and exploring innovative approaches to enhance the success of P3s.
In conclusion, Jessica's presentation highlighted the crucial role of strong partnerships in small business success. Effective communication, trust, shared values, and celebrating milestones were identified as key factors. As small businesses remain vital to the economy, nurturing these partnerships and fostering a collaborative ecosystem will contribute to their sustained growth and overall economic development.