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Consortium to give a leg up to smaller suppliers |
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A consortium of large businesses spanning a variety of industry sectors has announced a new way for small businesses to compete with greater ease to sell goods and services to global companies, with a view on the overall goal of potentially creating new jobs and economic growth for the US economy.  AT&T, Bank of America, Citigroup, IBM, Pfizer, and UPS have decided to standardize and simplify the application process required for qualified small-and-mid-sized US suppliers to undergo, as they compete for nearly $150 billion in contracts collectively awarded by them every year. The Supplier Connection website is expected to launch in the first quarter of 2011. In a statement, IBM said that as the program advances, many more large businesses are expected to sign up. The site will also allow small suppliers to learn from, collaborate with, and sell to each other so that they can become more competitive and successful, and will offer participating companies a mechanism for sharing valuable business information with these prospective small- and mid-sized suppliers. For larger corporations, this would mean easier access to small, innovative companies that generate new products and services. For this endeavor, IBM will create and maintain a free, public website, through a grant of more than $10 million from the IBM International Foundation. The site, christened "Supplier Connection", will provide visitors a single, streamlined electronic application form. Small vendors would have to complete the application form just once to potentially supply to participating companies, allowing them to easily connect for opportunities to sell services, marketing, food, human resources, and construction, among others. IBM said presently it can be challenging for small businesses to apply as potential suppliers to large corporations as the process can require significant investments of time, money and expertise. |
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