Verizon Commits $5B to Boost US Small Business Suppliers

Verizon has announced a $5 billion investment over the next five years to support American small business suppliers through its new Small Business Supplier Accelerator program. This initiative aims to integrate more small businesses, including veteran-owned enterprises, into Verizon's supply chain and those of other large corporations by offering targeted training, faster payment terms, and flexible insurance and indemnification requirements to ease their participation. Complementing this effort, Verizon’s Small Business Digital Ready program provides free online courses, expert coaching, networking opportunities, and capital access, with a new $10,000 grant cycle open until June 30, 2025. Since 2021, the Digital Ready initiative has awarded $13.5 million in grants and assisted nearly 500,000 small businesses, with a goal to digitally empower one million by 2030. Verizon CEO Hans Vestberg emphasized the company’s commitment to empowering local businesses and communities to promote economic growth and job creation. These programs collectively aim to strengthen the U.S. economy by fostering a more resilient supply chain and equipping small businesses with the tools needed to thrive in the digital economy.