Creating opportunity by removing barriers
Â鶹ÊÓƵ has launched aÌýCorporate Alliance for Supplier Capital designed to help eliminate common barriers to business opportunity experienced by small companies competing for corporate procurement contracts.
The challenge
Small businesses, can sometimes find it cost-prohibitive to meet industry due diligence requirements like cybersecurity, insurance bonding and other infrastructure costs. Satisfying these requirements can cost a typical business somewhere between $100,000 and $500,000, creating a very real barrier to entry into the financial services and related industries.
Â鶹ÊÓƵ has observed this challenge directly within its supply chain, and indirectly with its partners: otherwise-qualified suppliers are missing opportunities due to the high cost of compliance. It is an industry-wide problem, necessitating an industry-wide solution.
The solution
Â鶹ÊÓƵ has established a first-of-its-kind capital programÌýby raising voluntary contributions from our top suppliers and other corporate partners, and matching those contributions dollar for dollar. In turn, the program will disburse funds toÌýqualified small businesses,Ìý to be used for key compliance measures.
About theÌýalliance
The Alliance brings together the collective strength and shared objectives of multiple corporations Ìýin the interest of creating larger pools of qualified suppliers with the capacity to meet the minimum requirements for doing business with large companies.Ìý
Our pledge:
Since the start of the initiative, Â鶹ÊÓƵ has donated $15 million in funding and will match each corporate donation dollar for dollar.[1]
Ìý
1. Â鶹ÊÓƵ annual donation match may be subject to an annual cap