Baruch College President S. David Wu proposed pairing CUNY students with small businesses to support NYC’s economic recovery at a panel discussion at the Center for an Urban Future on Sept. 22.

“The impact of this could extend far beyond COVID-19 recovery and help strengthen immigrant- and minority-owned small businesses for the long term,” he said during the panel, “How to Revive NYC’s Economy, Spark Good Jobs and Build a More Equitable City.” “The time to act is now.”

The policy symposium featured Wu and 18 other speakers to give brief idea pitches and participate in moderated discussions. Wu was the last speaker, talking for approximately three minutes.

“[Baruch students] understand the specific challenges their communities are facing, as well as the unique opportunities that exist to rebound, reach new customers and grow,” Wu said. “They have the trust of their neighbors and trust that could take well-meaning volunteers from outside the community months, if not years, to cultivate.”

In addition to creating a matching service, Wu pitched the idea of integrating the initiative into the Baruch curriculum so that students can learn while serving the community.

“This allows them to draw on their personal experience and cultural knowledge, while building expertise in the real-world setting for themselves and driving a strongly-inclusive economic recovery in the process,” Wu said.

The reason driving this idea is the “financial and operational” challenges small businesses are facing due to the pandemic, according to Wu.

When the pandemic disrupted in-person shopping, some businesses were not equipped with the e-commerce or digital marketing skills needed for succeeding in the online market.

Others didn’t have the standard financial record-keeping that is necessary to apply for federal government relief funds, Wu said.

He said he believes that the solution is CUNY and Baruch students, who are skilled in business, technology and social media. Wu said he imagines that these students would serve businesses within their own community.

“CUNY students have the business skills, the cultural competencies and the digital fluency to make a difference,” he said. “Baruch students, for example, alone speak over 100 languages and they hail from communities from across the city, where the impact of the pandemic has been most severe.”

With the help of students and their skills, business owners could implement the best accounting practices and marketing strategies directed toward changing demographics, Wu said.

The Center for an Urban Future is a nonprofit organization that uses research to shape policy aimed at growing the economy in NYC.

The event was inspired by its July 2021 report, which highlighted 250 ideas by New Yorkers to revive the economy.

Executive Director Jonathan Bowles thanked Wu after he spoke, citing his idea as being “one of [his] very favorite ideas from the report.”

The event was funded by the Fisher Brothers, a real estate firm, and Winston Fisher, the co-chair of the NYC Regional Economic Development Council.

The Baruch Instagram page posted about Wu’s speech at the event, amassing almost 200 likes on the post.