UBJ Staff • August 19, 2026

JPMorganChase Puts Small Businesses at the Center of Its LA28 Strategy

As Los Angeles prepares to welcome the world, local entrepreneurs are being encouraged to prepare now for the contracts, capital and growth opportunities surrounding the 2028 Olympic and Paralympic Games.


By Urban Business Journal Staff


The 2028 Olympic and Paralympic Games will bring more than world-class competition to Los Angeles. They are also expected to generate significant demand for local goods, services and suppliers—and JPMorganChase says small businesses should be positioned to participate.


JPMorganChase Chairman and CEO Jamie Dimon and Los Angeles-based executive Diedra Porché are helping focus attention on the economic potential surrounding LA28, particularly for entrepreneurs and neighborhood businesses that have historically struggled to access major contracts and growth capital.


The financial institution recently became the Official Bank of Team USA and the LA28 Olympic and Paralympic Games, a Founding Partner of LA28 and the first Global Banking Partner in Olympic history.


But for Los Angeles business owners, the most consequential part of the partnership may be what happens beyond the competition venues.


JPMorganChase says its LA28 commitment will include efforts to empower local businesses, increase access to financial resources and help ensure that the economic impact of the Games continues after the closing ceremony.


“The Olympic and Paralympic Games bring people together in powerful ways,” Porché wrote when announcing the partnership. “And they create opportunity that extends well beyond the moment—for athletes, for families and for communities.”


A Major Economic Moment for Los Angeles


Delivering an event of LA28’s scale will require an extensive network of companies.

The organizing committee says hundreds of contracting opportunities are expected across industries including:


  • Event production
  • Food and beverage
  • Hospitality and tourism
  • Transportation
  • Logistics and warehousing
  • Security
  • Technology
  • Marketing and communications
  • Staffing and workforce services
  • Equipment rental
  • Professional services
  • Cleaning, maintenance and waste management


LA28 has established a goal of directing 75% of its addressable spending to local businesses and 25% to small businesses through its Community Business Supplier Program.


That commitment could open doors for Los Angeles entrepreneurs—but registration alone will not be enough. Companies must be financially prepared, operationally capable and ready to meet the requirements of large institutional buyers.


Capital, Coaching and Connections


JPMorganChase’s LA28 partnership comes as the company expands its broader support for small businesses through its American Dream Initiative.


The bank plans to provide nearly $80 billion in small-business lending over the next decade, hire more than 1,000 additional business bankers and expand its team of senior business consultants. Los Angeles is among the priority markets identified for increased support.


The initiative also includes an expansion of Coaching for Impact, which provides entrepreneurs with individual coaching, technical assistance and business education.


Porché, JPMorganChase’s regional chair for California and the West and head of Community and Business Development, has spent much of her career connecting entrepreneurs to capital, mentoring and practical financial tools.


Her leadership is especially relevant in Los Angeles, where many small and diverse businesses have the expertise to perform major contracts but may need help strengthening cash flow, accessing working capital or navigating complex procurement systems.


That distinction matters. Winning a large contract can place unexpected pressure on a small company. Vendors may need to hire employees, purchase inventory, secure equipment and complete work weeks—or months—before receiving payment.


Access to capital is therefore not separate from procurement readiness. It is part of it.


Opportunity Is Not the Same as Access


The arrival of the Games does not automatically guarantee that neighborhood businesses will benefit.

Small companies can still be excluded by limited outreach, complicated registration systems, insurance requirements, bonding thresholds, slow payment schedules or contracts packaged at sizes that only established corporations can manage.


For LA28’s small-business commitment to create meaningful economic mobility, local entrepreneurs must be able to compete as prime contractors, subcontractors and suppliers throughout the Games’ supply chain.


Banks, corporations, government agencies and technical-assistance organizations will also need to coordinate their resources. Business owners should not have to navigate disconnected systems to locate financing, certifications, training and contracting opportunities.


The true measure of LA28’s economic legacy will not simply be how much money the Games generate. It will be how much of that investment reaches Los Angeles businesses, workers and communities—and whether participating companies emerge stronger after 2028.


What Los Angeles Businesses Should Do Now


The contracting window is already opening. Business owners should begin preparing before opportunities aligned with their capabilities are announced.


1. Register with LA28


Businesses interested in supplying goods or services should complete the official LA28 Supplier Registration.

Registration places a company in the supplier database but does not guarantee a contract. LA28 may contact registered companies when relevant opportunities arise.


2. Join RAMP


LA28’s competitive procurement opportunities are expected to appear through the City of Los Angeles’ Regional Alliance Marketplace for Procurement, commonly known as RAMP.


Businesses should create a complete vendor profile, select accurate commodity codes and review the platform regularly for Requests for Information, Expressions of Interest and formal solicitations.


3. Prepare a Strong Capability Statement


A one-page capability statement should clearly communicate:


  • The company’s core services
  • Relevant project experience
  • Past performance
  • Certifications
  • Geographic service area
  • Insurance and bonding capacity
  • Business identifiers and commodity codes
  • Contact information
  • What makes the company especially qualified


The document should be tailored to the buyer rather than used as a generic company flyer.


4. Review Financial Capacity


Businesses should understand how much working capital they would need to perform a major contract successfully.

Owners should review cash flow, credit, payroll capacity, equipment needs and the financial effect of delayed payments before submitting a bid.


5. Secure Relevant Certifications


Depending on the opportunity, certification as a small, minority-owned, woman-owned, veteran-owned, LGBTQ-owned or disabled-owned business may increase visibility and provide access to supplier-diversity programs.

Business owners should verify which certifications are recognized by each buyer rather than assuming one certification applies everywhere.


6. Look for Subcontracting Opportunities


Not every business will enter the LA28 supply chain as a prime contractor.


Smaller companies can pursue subcontracting, joint ventures and supplier relationships with larger firms that need local partners, specialized expertise or diverse vendors to fulfill major agreements.


7. Use Free Procurement Assistance


ProcureLA provides eligible Los Angeles businesses with free procurement education and assistance designed to help companies compete for public- and private-sector contracts.


Small Business Development Centers and other local technical-assistance providers can also help owners review financials, refine capability statements and assess contract readiness.


The Starting Gun Has Already Fired


The Olympic flame will not arrive in Los Angeles until 2028, but the business opportunity has already begun.

For local entrepreneurs, the next two years should be treated as a preparation period: strengthening operations, building relationships, securing capital and becoming visible to the institutions and prime contractors that will help deliver the Games.


JPMorganChase has the scale, resources and Los Angeles presence to play a meaningful role in that preparation. The firm serves more than five million customers and approximately 589,000 small-business clients across Greater Los Angeles, supported by more than 330 branches and 6,000 employees.


The opportunity now is to translate that reach—and LA28’s supplier goals—into measurable contracts, jobs and long-term business growth across Los Angeles.


The world is coming to the city. Los Angeles businesses should be ready when it arrives.

California’s New Digital Products Tax: What Software Sellers and Buyers Need to Know Before 2027

By Kim Anthony • September 25, 2026
Beginning January 1, 2027, California sales and use tax will generally apply to prewritten software delivered electronically or accessed remotely, including many Software-as-a-Service subscriptions. CALIFORNIA — If your business sells software, provides access to an online platform or pays for software subscriptions, a tax change belongs on your 2027 planning list. Under Senate Bill 122 , signed into law June 29, 2026, California is expanding the sales and use tax definition of tangible personal property to include certain digital products and associated copyright or patent interests. That means retail sales of covered products in California—and covered products purchased from a retailer for storage, use or other consumption in California—may be taxable beginning January 1, 2027 . The change generally affects sellers of prewritten software, SaaS providers, businesses that license or provide remote access to prewritten software, and the customers who buy those products. What counts as a digital product? For this law, a digital product is prewritten computer software delivered on physical storage media, transferred electronically or accessed remotely. Prewritten software is software held for general or repeated sale or lease. It can qualify even if it was originally developed for a particular customer or for a company’s own use. A combination of two or more prewritten programs can also qualify. What is outside this definition? The law does not classify every digital purchase as a taxable digital product. The following are excluded from its digital product definition: Digital assets, such as cryptocurrency Digital audio works, such as music, spoken recordings and ringtones Digital audiovisual works, such as movies and videos with sound Digital books, or eBooks Digital infrastructure, such as cloud platforms customers use to create, deploy or run their own software applications Digital video game products Digital visual works, such as computer-generated artwork The law also provides exemptions for custom computer software , digital products representing a service other than SaaS, digital products transferred with reproduction and distribution rights, and digital products purchased solely for use outside California. Businesses should review the details of a transaction before treating it as excluded or exempt. A $5 million rule for certain large purchases In some transactions, responsibility for paying the tax can shift from the retailer to the purchaser. The rule concerns a retailer’s aggregate gross receipts from digital products sold to the same purchaser that are transferred electronically or accessed remotely. For 2027 , the threshold is more than $5 million in that calendar year . Beginning January 1, 2028 , the test looks at whether those receipts exceeded $5 million in the current or preceding calendar year. When the rule applies, the purchaser may need a Use Tax Direct Payment Permit and may have to report and pay the tax directly to the California Department of Tax and Fee Administration (CDTFA). Location matters for local taxes For digital products transferred electronically or accessed remotely, the place of sale for local and district tax reporting is generally the customer’s address. The place of use is where the person accessing the product is located. That distinction matters when a company’s billing address and its software users are in different places. CDTFA explains the rules in its Tax Guide for Retailers and Purchasers of Digital Products . What sellers need to do California digital product sellers that are not already registered with CDTFA may need to obtain a seller’s permit , file sales and use tax returns, and report and pay tax on taxable retail sales. Out-of-state sellers that are engaged in business in California under Revenue and Taxation Code section 6203 may need a Certificate of Registration—Use Tax . They would collect and report use tax on covered sales to California consumers and pay it to CDTFA. Registration is available through CDTFA Online Services . The UBJ takeaway: Software sellers can use the months before January 2027 to review their products, customer locations, invoicing and registration needs. Buyers can review their software agreements and ask vendors how the new tax will appear on invoices. For the definitions, exemptions and reporting rules, start with CDTFA’s digital products tax guide

Meet the Strategist Who Sees Opportunity Where Others See Obstacles

By Kim Anthony • September 24, 2026
Beverly Kuykendall helps businesses navigate complex markets, build stronger partnerships and turn ambitious ideas into workable plans. Some business leaders see a procurement requirement and stop at the obstacle. Beverly Kuykendall asks what it would take to move forward. Over decades in federal acquisition and commercialization, Kuykendall has helped organizations work through the demands of government contracting while keeping their commercial goals in view. Her career has included executive roles as President of Government Business, Chief Strategy Officer and President. In each, she has worked at the point where strategy must become something a team can actually execute. Today, Kuykendall advises mission-driven organizations and manufacturers seeking new routes to growth. For companies pursuing domestic production, that may mean beginning with practical steps such as packaging, labeling, kitting, light assembly or fulfillment. These staged solutions can help a manufacturer establish domestic capacity and enter a market while building toward a larger goal. She also helps manufacturers develop reseller and distribution programs with clear standards for selecting partners, onboarding them and measuring performance. The aim is to grow revenue while protecting the relationships and reputation a business has worked hard to build. Kuykendall’s strength lies in making complicated systems understandable and actionable. She sees how procurement rules, supply chains and commercial partnerships fit together—and where an organization can make its next move with confidence. For entrepreneurs and business leaders trying to enter a demanding market, that perspective matters. A complex path can still be a path. Kuykendall’s work helps organizations find it, prepare for it and take the next step.

Meet the Design Visionary Bringing Artistry to the World’s Most Memorable Spaces

By Kim Anthony • September 24, 2026
Felecia Fisher-Shamu has built a women-owned furniture manufacturing business whose work reaches from Los Angeles hotels to destinations around the world. Before Felecia Fisher-Shamu’s work appeared in luxury hotels and major entertainment venues, she was building relationships with the people who knew those spaces best: hotel engineering and housekeeping teams in Santa Monica and Los Angeles. She listened, learned what the work demanded and built a business around delivering it well. Today, Fisher-Shamu is CEO and co-founder of Vitality Casegoods, Restorations, and Furniture Manufacturing, Inc. In a competitive industry where women business owners have had to establish their place, she has earned a reputation for custom furnishings, furniture design and restoration. She has done it with creative vision, perseverance and a team of skilled craftspeople. Vitality’s work has reached properties in the United States, Anguilla, Saudi Arabia and Canada. Fisher-Shamu has contributed to sustainable projects with Google and ARIA in Las Vegas, as well as furnishings for major hotels and entertainment spaces. Her team’s work has also supported events associated with the NAACP Image Awards, the Daytime Emmys and Oscar celebrations, including a VIP gala honoring Black Panther costume designer Ruth E. Carter. Her passion for restoration gives the business another dimension. Vitality helped restore antiques from Paris for Lumière at the refurbished Fairmont Century Plaza in Los Angeles. Earlier in her career, Fisher-Shamu restored antiques for the Four Seasons Hotel Beverly Hills. She values the artistry in preserving a piece’s character as much as the skill required to create something new. Even during the pandemic, when the hospitality industry faced extraordinary disruption, Vitality continued to win work. Projects included SoFi Stadium’s Owners Club, Loews St. Louis Live! hotel and Circa Resort & Casino in Las Vegas. Fisher-Shamu’s story celebrates what a woman-owned business can build through talent, trusted relationships and the determination to keep going. Her furnishings may be found in celebrated spaces, but the deeper achievement is the enterprise she and her team have crafted along the way.
Show More