According to the Small Business Administration, small business accounted for two-thirds of net-new jobs created in the United States between 1993 and 2008. A recent survey however found that lack of or slow sales was the primary concern cited by over half the participants. Without sustained and sufficient demand, small businesses can’t expand their operations or hire needed employees. Small businesses are vital to our economy, and giving them the opportunity to market their goods and services to supply chains of large companies could be a key source of expansion and job creation.
That's why a consortium of large companies has formed to build Supplier Connection, a free, Web-based portal that allows small businesses to more easily apply to become suppliers to large companies, and allows large companies to identify small companies with whom they would do business. Currently, the members of Supplier Connection purchase more than $150 billion in goods and services annually through their global supply chains.
This initiative is a standardized and streamlined way to register basic information, share business practices, and connect with both large and small businesses. Much like the Universal College Application, it simplifies the application process so business owners are not bogged down in red tape.
The Center for an Urban Future conducted a study to explore and document the potential benefits and impact of supply chain collaboration by large and small companies. In its report, they document how breaking into the supply chain of a large corporation can be transformative for small businesses.
Participating "small businesses" must be business entities organized for profit, located in the United States, and operate primarily within the United States or make a significant contribution to the U.S. economy through payment of taxes or use of American products, materials, or labor.
Participating organizations must have fewer than 500 employees OR less than $50,000,000 in annual revenues. Additionally, small businesses must provide one of the following goods or services:
Food and Beverage Manufacturing
Lab Supplies and Equipment
Professional, Technical and Marketing Services
Participating corporations include:
AMD, AMYLIN, AT&T, Bank of America, CAT, citi, Dell, Facebook, IBM, John Deere, Johns Hopkins, JP Morgan Chase, Kellogg’s, Merck, Office Depot, Pfizer, UPS, Wells Fargo, and ZeroChaos.
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