Verizon Helps Out With $5B Small Business Supplier Accelerator Program

Verizon has pledged $5 billion over the next five years to support U.S. small business suppliers through its newly launched Small Business Supplier Accelerator program. The initiative aims to create opportunities for American small businesses, including those owned by veterans, to collaborate with Verizon and other major corporations. By fostering a stronger supplier network, the program seeks to enhance the resilience of the U.S. supply chain and support small businesses, which are vital to the nation’s economy.

The Small Business Supplier Accelerator builds on Verizon’s ongoing efforts to assist small businesses and their communities. Beyond the $5 billion investment, the program offers tailored training and flexible solutions to simplify participation in Verizon’s supplier network. These include expedited payment terms, adjusted insurance requirements, and modified indemnification terms, all designed to make it easier for small businesses to engage with large corporations.

Additionally, Verizon supports small businesses through its Small Business Digital Ready program, a free online platform available nationwide. This initiative provides access to over 50 expert-led, on-demand courses designed specifically for small businesses, along with one-on-one coaching, networking opportunities both online and in-person, and resources to secure capital. These tools aim to equip small businesses with the skills and connections needed to thrive.

Hans Vestberg, CEO of Verizon, stated: “Verizon recognizes that small businesses are the backbone of the American economy and a staple in our local communities. 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.”

The Small Business Supplier Accelerator reflects Verizon’s dedication to strengthening local economies by providing small businesses with the resources and opportunities to grow. By combining financial investment, practical support, and educational programs, Verizon aims to create a more inclusive and robust supplier ecosystem. The initiative is expected to drive economic growth, create jobs, and enhance the sustainability of small businesses across the United States over the next five years.

Through these efforts, Verizon continues to prioritize the success of small businesses, recognizing their critical role in building vibrant communities and a strong national economy. The program’s comprehensive approach ensures that small businesses have the tools and support needed to compete and succeed in a dynamic market.