Latest news with #DigitalReady
Axios
20-05-2025
- Business
- Axios
Verizon announces a $5B commitment to support small businesses
Small businesses fuel the U.S. economy — and a new investment aims to supercharge their role in it. Verizon just announced a commitment to invest $5 billion over the next five years in U.S. small business suppliers with the launch of its new Small Business Supplier Accelerator. What you need to know: 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. The strategy: This program is designed to strengthen small businesses — the backbone of the U.S. 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 $5 billion 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. Adjusted indemnification requirements. The goal: To make it easier for small businesses to join Verizon's supplier network or the network of other large companies. "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." Helping over 460,000 small businesses succeed 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. Curated loans and grants. In partnership with the nonprofit LISC, Verizon recently announced 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. The takeaway: 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.
Phone Arena
14-05-2025
- Business
- Phone Arena
Verizon just pledged $5 billion to change how small businesses grow
Verizon isn't slowing down when it comes to supporting small businesses in the US. After launching the industry's first GenAI Assistant for small companies and partnering with global players – including a satellite provider – to boost IoT connectivity, the carrier is back with even more news. This time, Verizon is committing a massive $5 billion over the next five years to invest in US small business suppliers. The new initiative, called the Small Business Supplier Accelerator, is designed to help veteran-owned and other American small businesses get into Verizon 's supplier network and partner with other big companies, too. The Accelerator builds on Verizon 's long-standing support for small businesses and their communities. Beyond just spending $5B, the program also includes training and support tailored for small businesses – things like faster payment terms, reduced insurance requirements and more flexible contracts. The whole point is to make it easier for small businesses to compete and grow by working directly with large corporations. – Hans Vestberg, CEO, Verizon , May 13, 2025 On top of that, Verizon is continuing to support its Small Business Digital Ready program – a free online platform that gives small businesses access to over 50 on-demand expert-led courses, personalized coaching, networking opportunities and funding options. And yes, that includes another round of Small Business Digital Ready grants. In partnership with LISC (Local Initiatives Support Corporation), small businesses that are Digital Ready members and complete at least two resources can apply for a $10,000 grant. The deadline is June 30, 2025, at 11:59 pm PT. Since 2021, Verizon has given out $13.5 million in grants and supported nearly 500,000 small businesses through its Digital Ready program – already getting closer to its goal of reaching one million small businesses by 2030. At the end of the day, Verizon 's efforts go well beyond just money. The company is focused on giving small businesses the tools, training and tech they need to grow, adapt and stay competitive in today's digital world.
Boston Globe
17-02-2025
- Politics
- Boston Globe
Amid Trump's war on DEI, advocates fear job trainings, scholarships for disadvantaged groups could be at risk
Get Starting Point A guide through the most important stories of the morning, delivered Monday through Friday. Enter Email Sign Up Related : Advertisement 'To put a low-income student into a high-wage job changes the entire life trajectory of their family for generations,' said Sarah Cherry Rice, who runs the Boston nonprofit Digital Ready, which helps students of color earn college credit and gain work experience in science and technology fields. 'It changes what they have access to, the resources they can bring, their social connections, the capital, the network. They're bringing that all back to their family.' The median wealth of Black families increased significantly in recent years as housing values grew, according to Federal Reserve data analyzed by the , but the racial wealth gap continued to widen. In 2022, the median wealth of white households was $285,000, but only $44,980 for Black families and $62,000 for non-white Latino households — a divide Brookings attributes to 'centuries of discrimination in public policy, financial practices, and societal norms' that the country has yet to overcome. Advertisement Designating funds to support communities of color is crucial to bridging this gap, said Orlando Watkins, chief program officer at The Boston Foundation. The nonprofit, which is focused on equity, remains committed to funding communities of color, he said, but the Trump administration's anti-DEI proclamations have had 'a real chilling effect' on organizations the foundation partners with. Some corporate donors are pulling back or reprioritizing funds, he said, and some nonprofits are softening language emphasizing diversity and inclusion to align with donors' attempts to 'stay out of harm's way.' Earlier this week, the Boston Foundation announced $2 million in grants to be awarded this spring to social service organizations that serve LGBTQ+ individuals, immigrants, and other vulnerable populations. 'At a time when the basic rights and well-being of hundreds of thousands of our neighbors are under assault, and each day brings renewed questions about the ability of our institutions to meet their commitments, we cannot afford to sit idly by,' president Lee Pelton said in a statement. The real tragedy, Watkins said, is that the country finally seemed to be recognizing the importance of lifting up disadvantaged populations during the racial reckoning following the murder of George Floyd in 2020. Related : 'It is our shared responsibility to try to create equity,' he said, 'not only for the individual who would benefit from that scholarship or that grant or loan, but for our entire society.' Advertisement Research by Ayanna Lott-Pollard, executive director of Resilient Coders, worries that companies that have sought out her program's graduates may scale back recruiting efforts to 'stay out of the limelight.' 'Particularly in industries like tech, the DEI initiatives have played a crucial role — not just a minor role, a crucial role — in increasing access to these high-paying careers for those underrepresented, and, I like to say, underestimated communities," she said. But the DEI movement, which has roots in the 'The noise was pretty loud about the reckoning, but the systemic changes were small,' she said. 'If it took four years to build that little bit of equity and wealth; I would say it's probably going to be wiped out in six months.' The momentum that built in the aftermath of Floyd's death was more about 'joining the popular movement of the time' than in addressing inequalities, said Dedrick Asante-Muhammad, president of the Advertisement 'People are going with the tide,' he said. And no one is sure how far out the current tide will go. Buying a house is a major factor in building wealth, and it's not clear what will happen if efforts to support disadvantaged populations' homeownership rates come under fire. awards up to $50,000 to people of color under a certain income level trying to buy their first home. FHLBank Boston said in a statement that it 'remains committed to offering a variety of programs that promote affordable homeownership opportunities.' Several people who have benefited from programs geared toward assisting marginalized communities declined to talk to the Globe because of concerns about being targeted in the current political climate. The anti-DEI blowback has been so intense in part because diversity programs have been lumped in with unrelated efforts that are unpopular, Joun said, including cancel culture, transgender rights, even environmentally conscious paper straws. DEI was also singled out for blame in several recent disasters, including the fires in Los Angeles — where the first woman and openly LGBTQ firefighter to lead the fire department was accused of being a Advertisement If the ripple effects of the backlash against diversity and inclusion efforts continue to grow, they could have an impact on ambitious students like Joselyne Cordero. Cordero, 21, came to the United States from the Dominican Republic as a child, and her mother, who works as a janitor at Fenway Park, struggled to raise her and her younger sisters on her own. During high school, Cordero got involved with Digital Ready and was able to earn 18 college credits for free and get a partial scholarship to Wentworth Institute of Technology. Now Cordero, the first member of her family to graduate from high school, is a second-year architecture student, and her 17-year-old sister is also thinking about college. Without the help she got from Digital Ready, including a part-time job as a teaching assistant that helps pay her family's bills, she said, 'I wouldn't be following this path.' Digital Ready is funded by local foundations and state and city grants, and so far, its partners have remained supportive, said Rice, the director. But she worries about the hiring pipeline as major tech companies pull back DEI initiatives and chief diversity officer positions disappear. Additional funding opportunities could also be at risk. Rice had been looking into applying for a $5 million The grant, it seems, is no longer available. This story was produced by the Globe's team, which covers the racial wealth gap in Greater Boston. You can sign up for the newsletter . Katie Johnston can be reached at
