Amazon Business – Amazon’s business-to-business procurement store – recently kicked off its third annual Small Business Month with grants to help support the growth of small businesses in the U.S.
This year, Small Business Month includes a new online resource center called Small Business Success Studio. The studio provides small businesses with free online educational tools and resources to start, run, and grow their business.
As part of Small Business Month, Amazon Business also launched the 2024 Small Business Grants program. It gives eligible U.S. small businesses the chance to win over $250,000 in monetary grants. (Go here for more information on the grants.)
A recent survey of small-business decisionmakers across the United States, cited by Amazon Business listed the top three challenges small-business decisionmakers say are keeping them up at night. They are high inflation (50%), high operations/labor costs (42%), and supply chain distribution (41%). While contending with these macroeconomic challenges, small business owners remain optimistic. For example, 93% are feeling hopeful about the state of the economy.
Small businesses also are looking for new ways to grow their business. The survey shows they see increasing their procurement budget (65%) and investing in procurement (75%), especially procurement tools (49%), as ways to do so.
These play a key role in scaling their business. And more than two-thirds (68%) of business owners surveyed felt that there is room for optimization in their procurement operations. Half are worried that if they don’t adopt artificial intelligence technologies in 2024, their business will fall behind.
Education, funding key
“Driving education and getting funds to small businesses who are driving impact in their local communities is something we’re very passionate about at Amazon Business,” Shelley Salomon, vice president of Amazon Business Worldwide, said in a news release. “Setting these small businesses up for success, whether through grants, educational opportunities, or the innovative tools Amazon Business offers to simplify buying decisions, our hope is to help free up some time and resources so they can focus on their mission.”
The Small Business Success Studio is a new, on-demand, immersive online educational resource for all entrepreneurs eager to start, grow, and/or scale their businesses. It is provided by Amazon Business at no cost. The studio packs essential know-how across finance, marketing, procurement, and operations into easy-to-digest content. It also features real success stories and practical tips from seasoned founders like Allison Ellsworth of poppi.
Users gain access to peer insights and learn how to use Amazon Business to simplify the procurement experience and gain operational efficiencies, saving both time and money. Aimed at being a strategic partner for growth, the Studio supports small business owners at every step of their journey, fueling inspiration, education, and community.
Amazon’s footprint in the Quad Cities includes its new Amazon Robotics Fulfillment Center in north Davenport.
To further support the growth of small businesses, Amazon Business launched the 2024 Small Business Grants program. It’s designed to spur innovation and support the growth of small businesses that are driving impact in their local communities.
This year, Amazon Business is giving eligible small businesses in the U.S. the chance to win over $250,000 in grants. There will be one grand prize winner, four finalists, and 10 semi-finalists. Existing Amazon Business customers with an annual revenue of $1 million or less can apply for the grant.
Grant recipients will receive one year of free Business Prime membership, Amazon Devices, and Amazon Basics products. Applications are due by Friday, May 24, and winners will be announced on Monday, July 22. For additional information and to apply, visit www.amazon.com/smallbusinessgrant.
