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This Just In: Big Businesses Step Up to Help Small Businesses
Published on Sep 23, 2010
Read 'This Just In: Big Businesses Step Up to Help Small Businesses' at 'Time to Start Up,' the small business blog by BizFilings.
According to CNNMoney.com six big players in the U.S. have stated they are willing to make it "easier for small companies to apply for billions of dollars worth of corporate contracts to help boost the economy."
These major corporations include: AT&T, Bank of America, Citigroup, IBM, Pfizer and UPS. CNNMoney reported, "They will participate in a Web-based procurement system that will enable 'one-stop shopping' for small and medium-sized firms seeking a combined $150 billion worth of businesses every year."
The aim is to make it simpler for smaller companies to win contracts by completing just one application to supply goods and services to a number of big companies.
As it is today, small businesses must file separate applications for each company and then do it again for new contracts to offer services.
"The IBM International Foundation, the tech giant's philanthropy arm, will provide a $10 million grant to operate a new Web site called 'Supplier Connection.' The Web site will be fully funded by the foundation and will be free of charge for both small and big businesses. IBM said it expects other big companies to join the initiative after the Web site launches in the first quarter of 2011," - according to CNNMoney.com.
The companies are making a concerted effort to help boost the economy by "simplifying a complicated and costly process."
Have you been unwilling in the past to apply for contracts - from catering to construction - with big companies because of the time and expense involved? Will you be more apt to do so?