Recently, small businesses have been dealing with the ongoing impact of the pandemic, social unrest, and environmental events. Small businesses owned by people of color or women have been some of the hardest hit. According to the National Bureau of Economic Research, between February and April 2020, the number of active Black-owned businesses declined by 41%, Latinx-owned businesses declined by 32%, and Asian-owned businesses dropped by 25%, versus just 21% for the general population. Comcast RISE was created to invest in the success of these critical businesses by providing valuable and practical support.
In November, Comcast RISE announced a major expansion to all women-owned businesses nationwide. According to a study by the National Association of Women Business Owners, 42% of businesses in the U.S. are owned by women, with more than 1,800 new businesses being started every day. That’s nearly five times the national average. However, according to the same study, women-owned businesses are growing at only half the rate of those run by men, namely because women struggle to access capital and other resources to help them succeed.
Selected businesses could receive one or more of the following elements:
Advertising and marketing consultations with local Effectv marketing, research, and creative teams to gain insights on how to grow your business.
A linear TV media schedule, over a 90-day period.
Turnkey production of a 30-second TV commercial, plus a media strategy consultation and 90-day media placement schedule.
Computer equipment and Internet, Voice and Cybersecurity services for 12 months. (Taxes and other fees may still apply for tech makeover services.)
To-date Comcast RISE has awarded $16 million in grants to 1,600 businesses across select metropolitan areas. Each business received $10,000 to invest in its own growth and sustainability. Learn more.