Verizon is investing $5 billion over the next five years to support American small businesses through its newly launched Small Business Supplier Accelerator program. The initiative aims to create a robust pipeline for small businesses, particularly those owned by veterans, to collaborate with large corporations like Verizon.
The program goes beyond financial investment, offering targeted training, flexible payment terms, and modified business requirements to help small businesses more easily enter corporate supply chains. Verizon CEO Hans Vestberg emphasized the critical role of small businesses in the American economy, stating that the company's commitment is designed to foster economic growth and job creation.
As part of its broader strategy, Verizon's Small Business Digital Ready program provides free online resources, including over 50 expert-curated courses, one-on-one coaching, and networking opportunities. In partnership with LISC, the company is also offering $10,000 grants to eligible small businesses who complete specified resources, with applications open until June 30, 2025.
Since 2021, Verizon has already supported nearly 500,000 small businesses through these initiatives, positioning itself to potentially meet its goal of equipping one million small businesses with digital skills by 2030. The comprehensive approach underscores the telecommunications giant's commitment to supporting the backbone of the American economic landscape.
