CNHED, Wells Fargo Partner for a Second Year to Host Pay-it-Forward Popups at DC Small Businesses
For the second year in a row, CNHED is partnering with Wells Fargo and WHUR (Howard University Radio) to create “Surprise and Delight” pop-ups at diverse small business locations across DC. These pop-ups will follow a “Pay It Forward” model where CNHED pays for clients’ goods or services, with the only ask being for people to continue to support small businesses and pay forward hope and kindness to someone else in the community.
This year, part of the Surprise and Delight Pop-Ups will take place during February – Black History Month. Through these pop-ups, we hope to uplift the unfortunate fact that Black and Minority-Owned Small Businesses have been disproportionately affected by the pandemic-linked economic downturn. This is partly because they were more likely to already be in a precarious position, but we also know that Black Americans have never had an equal ability to reap the benefits of business ownership. While about 15 percent of white Americans hold some business equity, only 5 percent of Black Americans do. Among those with business equity, the average Black American’s business equity is worth about 50 percent of the average American’s and a third of the average white American’s.
Though the work ahead seems insurmountable, CNHED honors February as “Black Futures Month,” which serves to celebrate and recognize a new generation of champions, leaders, and advocates working toward racial and social justice. Small businesses, specifically minority-owned, are the heartbeat of our communities. They pump life into our neighborhoods, making them vibrant places to live and work and raise families – and they are the key to millions of local jobs. As the District works to recover from the impact of the Pandemic, CNHED and Wells Fargo are committed to supporting small businesses as they face unprecedented challenges with operating in a new environment.
The Surprise and Delight pop-ups are made possible thanks to the generosity of Wells Fargo and its Bank of Doing Campaign. Bank of Doing is a nationwide initiative to uplift Wells Fargo’s commitment to putting people and communities first, rolling up its sleeves, getting involved, and taking action. In preparation for the holidays, Wells Fargo is investing in business districts across the country and encouraging everyone to join in by shopping locally and supporting small businesses.
