This year has been a challenging one for small businesses, to say the least. They have dealt with the ongoing impact of the pandemic, social unrest, and environmental events. A recent study from the National Bureau of Economic Research found that the number of U.S. active business owners dropped from 15 million to 11.7 million from February to April. The study also cites that Black-owned small businesses were hardest hit, suffering the steepest decline (41 percent), followed by Hispanic and Asian American-owned small businesses compared to 22 percent of the general population.
To demonstrate our commitment to supporting small businesses, play a role in driving positive change and build business prosperity and wealth, Comcast developed Comcast RISE, which stands for Representation, Investment, Strength, and Empowerment. The program aims to provide small businesses and particularly Black, Indigenous, and People of Color (BIPOC) business owners with the tools, expertise and resources needed to navigate the economic effects of the pandemic and social unrest. Qualified businesses can apply for marketing and technology support to rebuild and strengthen their businesses at ComcastRise.com.
Comcast RISE is part of a broader Comcast NBCUniversal multi-year plan to allocate $75 million in cash and $25 million in media over the next three years to fight injustice and inequality. The Comcast RISE program was initially available for Black business owners and then was expanded to eligible Black, Indigenous, and People of Color (BIPOC) business owners beginning November 28, 2020.
Comcast RISE, which kicked off in October 2020, invites eligible businesses to apply for various areas of support including media and technology resources, a grant program, and a business resource page on Xfinity X1 with curated content. If selected, recipients may receive one or more of the following business services:
Comcast as a whole, including Comcast Business, Effectv and NBCU, believes in supporting and strengthening businesses that are the backbone of our local communities and creating sustainable positive impact for those owners. This was a unique opportunity to leverage the platform, tools and services we already have in a way that supports small business owners where they need it most, in a way that allows them to either re-open or continue operating their business.
Visit ComcastRISE.com for more information on eligibility requirements and the latest updates.
The Comcast RISE initiative aims to provide tools and resources to impacted small businesses.