The COVID-19 pandemic has massively impacted the small business scene, especially Black, Indigenous and People of Color (BIPOC) businesses. According to The National Bureau of Economic Research, the number of Black business owners plummeted by 41 percent, six percentage points more than predicted by the national distribution. Other minorities were similar, with the number of Latinx business owners going down 32 percent and Asian business owners declining 25 percent. Seattle specifically had the second-largest decline in offline local commerce spending according to JPMorgan Chase & Co.
Now King and Pierce County businesses can apply to Comcast RISE, a grant program made specifically to help small, local BIPOC-owned businesses. You can apply for a $10,000 relief grant on their website, given your business meets the requirements. Requirements include: the company has to have been established for at least three years, the company has 25 or fewer full-time and part-time employees, and it is at least 51 percent owned and operated by racially or ethnically diverse individuals. 100 businesses in King and Pierce County will receive a grant, and applications are being accepted until Oct. 14. Comcast RISE is also offering marketing services and tech makeovers, with applications closing on Oct. 17.