How Comcast is helping Latinx-owned small businesses continue to grow steadily during the pandemic
It is estimated that by 2050, Hispanic businesses will add $ 1.4 trillion to the US economy, which means $ 18 trillion will flow into the US economy.
Latinx-owned companies lead growth in all industries. This is unique since other minority groups, especially black business owners, have been negatively impacted by COVID-19 and have not yet fully recovered.
To help bridge this disparity, Comcast and Telemundo have partnered with HACE (Hispanic Alliance for Career Improvement) and Prospera to further elevate Hispanic businesses.
According to a press release, the partnership will expand the impact of these organizations, including the development of a 10-session course for women entrepreneurs and grants to small business owners in surrounding areas of North Carolina and from Florida, respectively. These grants are part of a larger and ongoing $ 100 million commitment to advance social justice and equality in Hispanic communities.
“We are grateful for Comcast NBCUniversal and Telemundo’s support for our mission, and for the opportunity to further support Hispanic entrepreneurs and small business owners,” said Prospera President and CEO Augusto Sanabria, in a press release. “The media platform’s national outlook and commitment to the Hispanic community will certainly be positive assets for our organization at this time of critical growth and impact. ”
Comcast says the grants recognize the important work of HACE and Prospera to improve the work of Latino-owned businesses, which account for about 4% of U.S. business revenues and 5.5% of U.S. employment.
Telemundo’s Nuestros Negocios program, shines a spotlight on Hispanic small and medium-sized businesses affected by the COVID-19 pandemic and promotes the services available to help them support their businesses during the current crisis.
“Latinos are opening businesses seven times faster than any other demographic and have let us know they need immediate support and resources, especially as they are recovering from the pandemic,” said Patricia Mota, President and CEO of HACE in a press release. “With support from Comcast NBCUniversal and Telemundo, we are delighted to launch HACE Entrepreneurs’ inaugural Mujeres program to deliver much-needed expert resources directly to Latino entrepreneurs. For years we have supported Latinx coaches and trainers by hiring them to deliver our programs, and now HACE Entrepreneurs’ Mujeres program is an additional intentional program to further elevate support for our Latino entrepreneurs.