Press release
Comcast RISE Announces Major Expansion to All Women-Owned Small Businesses Nationwide Starting In 2022
In its first year alone, Comcast RISE has provided over $60 million in grants, marketing, and technology services to support more than 6,700 small businesses
About this update from Comcast Corporation
[{"type":"text","content":"\nIn its first year alone, Comcast RISE has provided over $60 million in grants, marketing, and technology services to support more than 6,700 small businesses owned by people of color\n\nWith the expansion to all women-owned small businesses, the program is on track to support 13,000 businesses by the end of 2022\n\n PHILADELPHIA--(BUSINESS WIRE)--\nComcast Corporation announces today a major expansion of Comcast RISE to all women-owned businesses nationwide, furthering its efforts to advance digital equity and help provide underrepresented small business owners with access to the digital tools and funding they need to thrive.\n\nIn its first year alone, Comcast RISE has provided more than $60 million in grants, marketing, and technology services to more than 6,700 small businesses owned by people of color - including Black, Indigenous, Hispanic, and Asian Americans. Of the 6,700 Comcast RISE recipients to date, nearly 70% have been businesses owned by women of color, spurring Comcast to take a deeper look into the unique challenges faced by women entrepreneurs.\n\nAccording 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.\n\nKaren Cahn, Founder & CEO of IFundWomen echoes this important point, “The data about how women, a rapidly increasing number of whom are small business owners, have fared during the pandemic is stark. Women business owners tend to have limited access to capital and debt-free funding options, yet they represent a tremendous opportunity. Women-owned businesses deliver two times higher revenue per dollar invested than those founded by men, making them great investments.”\n\n“As we continue to rebuild and emerge from the effects of the pandemic, small businesses will continue to be the backbone of our economy – and we must take every opportunity to help them thrive,” said Teresa Ward-Maupin, Senior Vice President, Digital and Customer Experience, Comcast Business. “Looking forward, this expansion will enable Comcast RISE to further empowe...