(BPT) - Small businesses are the heart of Main Street - and the backbone of the American economy. From neighborhood restaurants to veteran-owned logistics companies, these millions of entrepreneurs are responsible for driving innovation, creating jobs and keeping communities thriving.
Already a decades-long supporter of small businesses, Verizon is now stepping up with a bold new commitment to spend $5 billion with American small business suppliers over the next five years through a new program called the Small Business Supplier Accelerator. Services and resources under this program will help remove common obstacles that can make it difficult for small businesses to work as suppliers with Verizon or other large enterprises. This includes: regional workshops, faster payment terms, modified insurance requirements and adjusted indemnification requirements.
"Verizon recognizes that small businesses are the backbone of the American economy and a staple in our local communities," said Hans Vestberg, CEO, Verizon. "Our long-standing commitment and investment in small businesses aims to empower local businesses and communities with financial, technology and business expertise and resources to advance economic growth and foster job creation."
Verizon has been supporting small businesses for years through its free Small Business Digital Ready program, which offers small businesses nationwide the opportunity to access over 50 expert on-demand courses curated by and for small businesses, in addition to free 1:1 expert coaching and networking opportunities. Since 2021, Verizon has awarded $13.5 million in grants and impacted over 460,000 small businesses - with a goal to reach 1 million by 2030.
In partnership with the nonprofit LISC, Verizon also announced another Small Business Digital Ready grant opportunity where eligible small businesses who are Digital Ready members (and complete two resources) can apply for $10,000 grants (open until June 30, 2025, at 11:59 p.m. PT).
With a $5 billion commitment and a growing network of resources, Verizon is doubling down on its mission to help small businesses not just survive - but thrive. Whether it's getting a foot in the door with major corporations or gaining access to capital, training and mentorship, Verizon is building a more resilient supply chain - one small business at a time.
Learn more here: https://www.verizon.com/about/our-company/small-business-supplier.