Verizon has just launched a plan to invest 5 billion dollars over the next five years in small American businesses. The initiative aims to strengthen these businesses, considered the main engine of the country's economy.
This investment is part of the new Small Business Supplier Accelerator program. Its goal is to create opportunities for small businesses, many led by veterans, to collaborate with Verizon and other large corporations. The idea is to foster a stronger and more resilient supply chain.
In addition to the financial contribution, Verizon will provide practical support. It will offer specialized training so these businesses can grow and adapt to the current market. It will also facilitate more flexible conditions, such as faster payments and adjustments in insurance and indemnity requirements. All this to make it easier to become part of Verizon's supplier network.
Hans Vestberg, CEO of Verizon, highlighted the importance of this commitment. "Small businesses are the foundation of the American economy and essential pillars of our communities," he stated. "We want to provide financial and technological resources that drive their growth and job creation."
Verizon adds it to another project already underway
This plan adds to another key Verizon program: Small Business Digital Ready. It is a free platform offering more than 50 specialized online courses for small businesses to improve their digital skills. It also includes personalized advice, networking opportunities, and access to financing.
In partnership with LISC, Verizon opened a new grant call within this program. Small businesses that are Digital Ready members and complete two resources can apply for 10,000 dollar grants until June 30, 2025. Since 2021, it has awarded 13.5 million dollars in grants to support these businesses.
Since its creation, Small Business Digital Ready has helped nearly half a million small businesses across the United States. Verizon aims to prepare one million businesses with the digital tools necessary to succeed in the modern economy, a goal it hopes to achieve by 2030.
The company not only invests money but also offers comprehensive solutions for small businesses to grow and protect their businesses through advanced technology. This approach demonstrates Verizon's commitment to strengthening a key sector for the country's economic development.
Verizon Communications Inc., based in New York, is one of the largest telecommunications service providers in the world. It serves millions of customers and the majority of Fortune 500 companies. In 2024, it caused revenues of 134.8 billion dollars.
The company continues to innovate to meet the current and future demands of its users. Its commitment to small businesses reflects a strategic vision to foster more inclusive and sustainable economic growth.