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Verizon’s Small Business Program has released information about its latest grant funding. The grant program is in partnership with LISC, and through it, Verizon Small Business Digital Ready has awarded $1 million in grants to small businesses through 2023.
To qualify for the grants, you must first join Verizon Small Business Digital Ready. It is free.
At VSBDR, not only can you access courses, live training sessions led by industry experts, and other resources, you can also apply for an exclusive pool of $10,000 small business grants.
To apply for the current round of funding, enroll in Verizon Small Business Digital Ready, complete a combination of two courses, mentoring events and community events and apply by May 12, 2023.
Last year, as part of our initiative to bring Verizon’s Small Business Digital Ready program to entrepreneurs and aspiring business owners, we caught up with Briana Ellison, Verizon’s Director of Community Engagement. She described some of the marketing tools, one-on-one mentoring and other aspects of the program that can help small businesses throughout Michigan and the Great Lakes area.
- What is Verizon doing to help small businesses in the Detroit/Michigan community?
Verizon actively partners with Michigan’s small businesses. We are members of several chambers of commerce and associations for small businesses (such as the Detroit Regional Chamber, Grand Rapids Chamber, Dearborn Chamber, The Right Place, MI Chamber, Automation Alley, Metro Detroit Black Business Alliance, MI Business Incubator Assoc.) Verizon is one of these organizations. Participates in several thought leadership events to share knowledge and resources with the membership.
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In the year In 2021, he extended support to Grand Valley State University’s Veterans Entrepreneurship Lab. Veterans and/or military spouses work to start their business within three months. MVE-Lab equips participants to identify their target customers, network with others, and find the resources they need to launch a profitable and successful startup. The Pitch Showcase will conclude with at least $25,000 in prize money. Guests include other veteran entrepreneurs, consultants, and professionals such as attorneys and marketing specialists, including a Verizon Veteran Employee Support Team leader with personal experience as an entrepreneur about Verizon’s support for small business owners.
In the year In 2021, we formed a partnership between Verizon’s Pro Bono Program and the Capital Connections Program of the Metro Detroit Black Business Alliance. This program prepares and connects Metro Detroit’s black-owned businesses with a variety of funding sources to ensure their continued success. If any of these businesses need additional legal assistance or one-on-one support, the Verizon Pro Bono Program team has agreed to work directly with these businesses to identify additional legal services.
Finally, in September, Verizon launched Small Business Digital Readiness. This online curriculum is designed to give small businesses the personalized tools to succeed in today’s digital world. The program includes learning modules, expert training, peer networking and a marketplace for tools and solutions. The free online resource is available to small businesses in Michigan (and nationwide) and is used by Verizon partners such as the Black Business Alliance’s Capital Connections program.
- What do you mean by “digital ready” and why is digital readiness important for small business owners today?
Digital readiness is about ensuring businesses have all the tools and resources they need to thrive in today’s economy. The Covid-19 pandemic has imposed unexpected challenges on entrepreneurs and has led to a further shift to digital ways of working. More than 75% of small businesses have redirected their operations as a result of the problem and more than 50% of SMBs say their online interactions with customers have increased. To remain competitive in the new economic environment, small businesses must be agile and adapt to consumer preferences.
Small business owners understand the importance of using digital tools in their day-to-day operations, but find it challenging to implement meaningful digital transformation. According to data from Morning Consult and Verizon published in their September 2020 report, more than two in five decision makers say their business will expand through digital technologies and rely more on communications. At the same time, more than two-thirds of respondents admit that adding or transitioning to digital/online operations is a challenge for their business to address. How do we bridge this gap? Entrepreneurs need easy access to personalized education and training resources – no matter where they are – to help them successfully implement digital strategies into their businesses and gain the confidence to succeed in the post-pandemic future.
- Why the Verizon Small Business Digital Ready Program is a great resource for business owners In Metro Detroit and Michigan?
Home to a variety of research organizations and anchor institutions, along with a vibrant and multicultural entrepreneurial ecosystem, Detroit’s rich roots include the hardworking and creative ethos of its diverse small business owners. Detroit has nearly 50k small businesses owned by entrepreneurs of color, and the city is committed to ensuring that its residents have equal educational and economic opportunities for a high-growth economy. According to the 2021 Detroit Ecosystem Assessment, Detroit has 23% of all startup companies in Michigan and has all the necessary resources to start and grow digital-ready businesses. As Verizon seeks to connect BIPOC business owners across the country with this valuable resource and create more equitable pathways for entrepreneurs to thrive in the digital economy, we view small business owners in the greater metro Detroit area—and Michigan—as a critical user base. in the effort.
Verizon’s Small Business Digital Ready program is built (mostly BIPOC) by small businesses for small businesses. Jamiel Robinson, executive director of Grand Rapids Area Black Businesses (GRABB), a Michigan-based business development organization, was a key voice on the Small Business Advisory Committee that helped shape the program and its offerings. A variety of subject matter experts drive our content, interactive video modules and coaching sessions. In short, entrepreneurs in Metro Detroit will be armed with digital strategies and relevant learning—via select curriculum topics, coaching events, and community groups—to apply to their businesses!
- What kind of guidance are the small business owners you work with looking for?
We know that small business owners are generally interested in learning more about finance, digital marketing and operational efficiency. Our users tell us they get great value from educational resources and direct contact with experts–one-on-one mentoring and group training events. 58% of users on the platform want to connect with a finance expert and 64% of users on the platform want to connect with a marketing expert. The most popular topic areas are getting capital, digital marketing and improving your online presence. Business owners prefer to be part of a community where they can learn from each other, as 52% of consumers want to connect with peers with similar interests.
- How can Verizon help with community networking on a personal level, not digital?
Verizon Small Business Digital Ready is built to be a valuable tool for BDOs, Small Business Development Centers, CDFIs and other organizations on the ground helping small businesses every day. We are working closely with these organizations to integrate our resources into their offerings. The Small Business Digital Event’s community section allows businesses to connect with other businesses and connect resources across the city.
At the start of the COVID-19 pandemic, Verizon began a groundbreaking effort to host virtual community discussions focused on small businesses in communities across the state. The purpose of these discussions is to hear from small business owners and small business development organizations about the great work they are currently doing, the challenges small business owners are facing and continuing, and to discuss how Verizon can support them in the future. Participants include small business owners, small business organizations and chambers of commerce.
Now more than ever, we at Verizon continue to build on the incredibly valuable relationships we have with the communities we serve. These discussions are the beginning of what we hope will be a long-term partnership where we will continue the conversation and explore opportunities to collaborate in the future.
- What skills do you bring to the community as a liaison between Verizon and small businesses?
As a local liaison between Verizon and small business owners, I work with my peers, internal business partners and external stakeholders to champion policies that enrich lives and build bridges of communication to enable a digital future that serves all Michigan communities. I leverage relationships with Verizon and business support organization partners to help solve challenges small businesses face, highlight successes and best practices, and disseminate information about Verizon tools and resources. Reflectively, I connect with businesses to listen to their needs and drive the way we put goodwill in our local communities and build networks that move the world forward for everyone.
Originally published in September 2022.
Verizon Small Business Digital Ready: A free resource to learn basic business skills, grants, the latest digital technology and more.
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