By Jasmine Clarke, Senior Correspondent
Verizon has announced a landmark $5 billion investment initiative aimed at strengthening the backbone of the American economy—small businesses. Unveiled on May 27, 2025, the telecom giant’s new Small Business Supplier Accelerator program is designed to empower small and veteran-owned enterprises, ensuring their long-term success and integrating them into broader national and corporate supply chains.
A Strategic Move to Reinforce America’s Supply Chain
The initiative will span the next five years and focuses on creating more inclusive opportunities for small enterprises to partner with Verizon and other large corporations. By doing so, Verizon aims to contribute to a more resilient and agile U.S. supply chain ecosystem.
“Small businesses are the heartbeat of America’s economy,” said Verizon CEO Hans Vestberg during the announcement. “With this investment, we’re not just supporting businesses—we’re laying down the infrastructure for long-term national growth and sustainability.”
The program aims to provide comprehensive support, from training and mentoring to digital integration and resource access, helping small firms scale their operations and meet rigorous corporate procurement standards.
Empowering the Underserved
A cornerstone of the Small Business Supplier Accelerator is its focus on inclusivity. Verizon has stated that a significant share of the support will be directed toward veteran-owned, women-owned, and minority-owned businesses. These groups often face structural barriers in accessing corporate contracts, financing, and growth opportunities.
The accelerator is tailored to address these disparities by providing tailored support mechanisms such as:
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Customized business development training
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Technology enablement tools
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Supplier certification assistance
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Networking opportunities with corporate buyers
“Being a veteran-owned business, it’s not always easy to break into the big leagues,” said Mark Johnston, a small business owner from Texas who participated in Verizon’s pilot program. “This initiative finally gives us a fair shot.”
Building on Previous Success
This announcement builds upon the success of Verizon’s earlier Small Business Digital Ready platform, which has helped more than 460,000 small businesses nationwide access online training, mentorship, and grants. That initiative, launched in partnership with the nonprofit Local Initiatives Support Corporation (LISC), also includes a competitive grant program that provides selected businesses with direct financial support.
Participants in the new accelerator will have access to a curated blend of these digital resources, in-person workshops, and industry-specific consultations.
Economic Impact and Long-Term Vision
Verizon’s $5 billion commitment is part of a broader movement among U.S. corporations to localize supply chains, boost community-based economies, and reduce dependency on international suppliers. As global disruptions like the COVID-19 pandemic and geopolitical tensions have highlighted the vulnerabilities of global supply chains, initiatives such as this are seen as strategic imperatives.
According to economic analysts, the potential ripple effects of Verizon’s investment could be substantial. “A program like this not only creates jobs but also increases competitiveness and innovation at the grassroots level,” said Dr. Lisa Hamilton, a small business economist at Georgetown University.
Moreover, integrating small businesses into major supply chains fosters a culture of entrepreneurial agility and responsiveness—key traits for thriving in the digital economy.
Looking Forward
Verizon plans to begin onboarding its first cohort of small business suppliers later this year. Interested businesses can apply through a dedicated online portal, with preference given to those that demonstrate a scalable business model and a commitment to technological innovation.
The company has also pledged to track and publicly report the program’s outcomes annually, ensuring transparency and continuous improvement.
“Our aim is not just to meet a quota but to build enduring partnerships that drive mutual growth,” said Rose Kirk, Verizon’s Chief Corporate Social Responsibility Officer.
By positioning itself as a key ally to small businesses, Verizon is not only investing in others but in the future of American commerce.