Black businesses, Wilmington

Black-Owned Small Businesses Eligible For $5,000 Grants From Comcast

Comcast is again ready to help spur growth and expansion for small businesses and entrepreneurs.

Comcast RISE is offering grants of $5,000 each to 500 small businesses in five regions.

All small businesses in Atlanta, Houston, Jacksonville, Florida, Richmond, Virginia, and southern Colorado can apply for $2.5 million in funding. Black-owned small businesses are among them. The grant package include business consultation, educational resources, and a technology makeover.

Businesses can apply from May 1 through May 31. Businesses can get more details here. 

Now in its fourth year, Comcast RISE reports it has awarded 13,500 small businesses over $125 million in monetary, marketing, and technology grants. The new grants will be announced in August 2024.

Loren Hudson, senior vice president and chief diversity officer at Comcast, said, “Small businesses are the backbone of our economy and are essential to building strong and thriving local communities. Comcast RISE is proud to help strengthen and empower these small businesses and entrepreneurs expand and grow.”

Insufficient or expired capital is a significant operating hurdle for emerging and mature small businesses. One report showed that 76% of Black entrepreneurs said access to capital was a challenge.

Though Black-owned businesses have grown robustly in recent years, 25% of them reportedly still struggle to obtain the needed capital to support their enterprises.

In general,  grants can be used for several purposes: launching or expanding a business, for working capital, improving funding strength, and creating jobs.

Comcast RISE is committed to supporting the growth of all small businesses. Started in November 2020, it was initially aimed at aiding minority- and women-owned small businesses most affected by COVID-19. The push has since evolved to help all small businesses and their communities grow through such means as economic growth.

Comcast RISE is part of Project UP, Comcast’s $1 billion pledge to advance digital equity through programs and community partnerships.

More details about on what the grant package includes can be found here.