The initiative is designed to lower barriers to entry for small enterprises, seeking to engage with large corporate supply chains.
The accelerator will offer practical support such as tailored onboarding, training and more flexible commercial terms. These include adjusted indemnity requirements, modified insurance terms and faster payment cycles, which are all designed to make it easier for small businesses to work with Verizon and other big buyers.
“Verizon recognises that small businesses are the backbone of the American economy and a staple in our local communities,” said Hans Vestberg, Verizon’s CEO in a press release.
“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,” he continued.
The programme complements Verizon’s ongoing efforts through its Small Business Digital Ready platform, a free online hub offering on-demand courses, mentoring, and funding opportunities. Since its launch in 2021, the platform has supported nearly 500,000 small businesses to become equipped to “thrive in a digital economy”, with a target of reaching one million by 2030.
The move comes amid growing pressure for large enterprises to diversify their supply chains, support local economic growth and improve resilience in the face of global disruption. Verizon, in partnership with LISC (Local Initiatives Support Corporation), has also announced a new round of $10,000 grants for eligible Digital Ready users.
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