Help Minority-Owned Businesses RISE

Small businesses have been dealing with a variety of obstacles over the past year. Between the pandemic, social unrest and environmental effects, it’s been a lot to take on. It’s been even more difficult for small businesses owned by people of color. According to the National Bureau of Economic Research, between February and April of 2020, the number of small businesses declined by 21% in general. However, that decline was 41% for Black-owned businesses, 32% for Latinx-owned businesses and 25% for Asian-owned businesses.

Because of this, Comcast created its RISE program, which stands for representation, investment, strength and empowerment. This program is a multi-year commitment to provide consulting services, media, creative production and technology makeovers for business owned by people of color. “Comcast RISE was really created to invest in the success of these critical businesses by providing them with valuable, practical support,” said Joe Higgins, Comcast’s director of external affairs.

To date, nearly 3,700 recipients in 422 cities across 34 states have been selected by the program in a variety of industries. Comcast has partnered with chambers of commerce and other local non-profits located in their service footprint to create a grassroots awareness campaign for the program. One of those chambers is the Illinois Hispanic Chamber of Commerce.

“The assistance has been huge in the community,” said Silvia Bonilla, the director of the Illinois Small Business Development Center at the Illinois Hispanic Chamber. “Our community is very entrepreneurial. We have the passion, but we lack that assistance, especially when it comes to marketing, social media, advertising, all the things that Comcast RISE is able to provide.”

The program recently added a monetary grant program in five cities – Chicago, Detroit, Houston, Philadelphia and Atlanta. Comcast RISE provided $5 million in grants to 500 businesses in those metropolitan areas. Each business received $10,000 to invest in its growth and sustainability. Higgins said that program is getting ready to expand to more cities, including Miami, Oakland, the Twin Cities, Washington, D.C. and Seattle.

Learn more about Comcast RISE at comcastrise.com, including an extensive list of frequently asked questions.

To watch (or re-watch!) this #ACCE21 Partner Solutions Session, click here. You can also see other topics covered during the Partner Solutions Session in this video playlist.