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Amazon on Wednesday Small business month It features the awarding of grants to eligible small businesses and the release of a new educational resource center for small businesses.
This initiative is being led by amazon business, The tech giant’s online business-to-business sourcing store is in its third year. “We’re very excited about this. It’s a great opportunity for us to give back and support the small business community,” Amazon Vice President Shelley Salomon told FOX Business.
She noted that in addition to providing more than $250,000 in grants to eligible small businesses, the company has launched a new Small Business Success Studio that will provide educational resources.
“This year, we’re bringing new immersive educational content to help successful entrepreneurs do their jobs better, including inspirational videos and webinars from successful entrepreneurs, content to help them understand how to manage cash flow, and more. is also important for small and medium-sized businesses,” Salomon said.
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In honor of Small Business Month, Amazon Business is awarding grants and launching an educational resource center for small businesses. (John Keeble/Getty Images/Getty Images)
Amazon Business’s Small Business Success Studio also offers tutorials on applying for small business loans, optimizing your website for internet search, and other topics.
| ticker | safety | last | change | change % |
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| AMZN | Amazon.com Inc. | 175.00 | -5.96 | -3.29% |
“Another thing that I think is really interesting is that we support small businesses with our supplier base,” she added, referring to Amazon Business’ procurement tools.
“As a company, you can consider sourcing products based on who your suppliers are, which could be minority-owned businesses, veteran-owned businesses, women-owned businesses, etc. …As our customers, we provide the ability to filter those suppliers and connect them with small businesses.”
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Small businesses with annual revenue of up to $1 million can apply for Amazon Business grants. (Johnny Milano/Bloomberg via Getty Images/Getty Images)
Amazon Business will award more than $250,000 in grants and prizes, including $25,000 to the grand prize winner, $20,000 to four finalists, and $15,000 to 10 semifinalists. Applications close on May 24th.
Small businesses with annual revenue of $1 million or less are eligible for grant awards for small businesses impacting their communities.
Amazon also conducted a survey of small business decision makers to understand the challenges and opportunities seen in the current economy.
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Amazon Business research found that 93% of small business decision makers are excited about the economy. (Daniel Acker/Bloomberg via Getty Images/Getty Images)
We found that the top three challenges that keep us up at night are: high inflation (50%), high operational and labor costs (42%), and supply chain distribution (41%).
Roughly half of respondents said they were worried that their business would fall behind if they didn’t implement artificial intelligence (AI).
Despite these challenges and concerns, 93% of small businesses state of the economy.
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“I think people are excited about new opportunities to grow their businesses in this environment, so I think there will be a tipping point where some customers will still be concerned. “I want something like this for the future,” Salomon said.
