Verizon announces a $5B commitment to continue investing in America and supporting small businesses

Rhea-AI Summary

Verizon (VZ) has announced a significant $5 billion commitment over the next five years to support US small business suppliers through its new Small Business Supplier Accelerator program. The initiative aims to create opportunities for American small businesses, including veteran-owned enterprises, to work with Verizon and other large corporations.

The program offers benefits such as faster payment terms, modified insurance requirements, and adjusted indemnification requirements. Additionally, Verizon's Small Business Digital Ready program has launched a new grant cycle offering $10,000 grants to eligible small businesses until June 30, 2025. Since 2021, Verizon has awarded $13.5 million in grants and supported nearly 500,000 small businesses through its Digital Ready initiative, working towards its goal of helping one million small businesses by 2030.

Positive

• Substantial $5 billion commitment to support US small business suppliers over 5 years
• New grant opportunity offering $10,000 to eligible small businesses
• Track record of supporting small businesses with $13.5 million in grants since 2021
• Strong 2024 revenue performance of $134.8 billion

Negative

• None.

News Market Reaction

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-0.81% News Effect

On the day this news was published, VZ declined 0.81%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

What you need to know:

• Verizon announces a substantial $5 billion commitment over the next five years with the launch of a new Small Business Supplier Accelerator.
• Verizon Small Business Digital Ready launched a new grant cycle where eligible small businesses can apply for $10,000 grants (open until June 30, 2025).

NEW YORK, May 13, 2025 (GLOBE NEWSWIRE) -- Verizon today announced a commitment to invest $5 billion over the next five years in US small business suppliers with the launch of its new Small Business Supplier Accelerator. The program helps create a pipeline for American small businesses, many of which are owned by veterans, to work with Verizon and other large corporations. This program is designed to strengthen small businesses — the backbone of the US economy — and to help the country create a more resilient supply chain.

The Verizon Small Business Supplier Accelerator builds on the comprehensive support that Verizon has provided to small businesses and the communities they serve for years. On top of the $5B in supplier spend, the program aims to empower American small businesses to work with Verizon and other large corporations through targeted training and flexible solutions such as faster payment terms, modified insurance requirements and adjusted indemnification requirements. The goal is to make it easier for small businesses to join Verizon's supplier network.

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

Keeping nearly 500,000 SMBs digitally ready
Verizon is further fueling small businesses through its Small Business Digital Ready program, a free online program offering small businesses nationwide the opportunity to access over 50 expert on-demand courses curated by and for small businesses; 1:1 expert coaching, online and in-person networking opportunities and access to capital.

In partnership with LISC, Verizon Small Business Digital Ready today announces another Small Business Digital Ready grant opportunity where eligible small businesses who are Digital Ready members (and complete two resources) can apply for $10,000 grants (open until June 30, 2025, at 11:59 pm PT). Since 2021, Verizon has awarded $13.5 million in grants to support small businesses.

Verizon has supported nearly half a million small businesses through Small Business Digital Ready since 2021, almost halfway to the company’s goal to equip one million small businesses with the skills and resources they need to thrive in the digital economy by 2030.

Verizon offers a comprehensive commitment to small businesses that extends beyond a financial investment, aiming to equip these vital economic drivers with the tools and resources small businesses need to grow and protect their businesses using technology.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) powers and empowers how its millions of customers live, work and play, delivering on their demand for mobility, reliable network connectivity and security. Headquartered in New York City, serving countries worldwide and nearly all of the Fortune 500, Verizon generated revenues of $134.8 billion in 2024. Verizon’s world-class team never stops innovating to meet customers where they are today and equip them for the needs of tomorrow. For more, visit verizon.com or find a retail location at verizon.com/stores.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at verizon.com/news. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media Contact:
Hope Armanus
hope.arcuri.armanus@verizon.com
6469834148

FAQ

What is Verizon's (VZ) new $5 billion small business commitment?

Verizon has committed $5 billion over five years to invest in US small business suppliers through its new Small Business Supplier Accelerator program, which helps create opportunities for small businesses to work with Verizon and other large corporations.

How much are the Verizon Small Business Digital Ready grants in 2025?

Eligible small businesses can apply for $10,000 grants through the Verizon Small Business Digital Ready program until June 30, 2025.

How many small businesses has Verizon supported through its Digital Ready program?

Verizon has supported nearly 500,000 small businesses through its Small Business Digital Ready program since 2021, working towards its goal of helping one million small businesses by 2030.

What benefits does Verizon's Small Business Supplier Accelerator offer?

The program offers faster payment terms, modified insurance requirements, adjusted indemnification requirements, and targeted training to make it easier for small businesses to join Verizon's supplier network.

What was Verizon's (VZ) revenue in 2024?

Verizon generated revenues of $134.8 billion in 2024.