New survey data shows investing in procurement
is a top priority for small businesses and that many small
businesses are exploring how best to adopt artificial intelligence
technologies in 2024
Amazon Business launches Small Business Success
Studio, an on-demand collection of immersive educational resources
to help small businesses grow
Eligible small businesses can apply by May 24
for the company's Small Business Grants program, which provides the
chance to win monetary grants and other prizes
Amazon Business (NASDAQ: AMZN), the company’s
business-to-business procurement store, today kicked off its third
annual Small Business Month to help support the growth of small
businesses in the U.S. This year, Small Business Month includes an
exciting and interactive new online resource center called Small
Business Success Studio [https://business.amazon.com/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 that gives eligible small businesses in the
U.S. the chance to win over $250,000 in monetary grants.
According to a recent survey of small-business decision-makers
across the United States, the top three challenges small-business
decision-makers say are keeping them up at night 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, with 93%
feeling hopeful about the state of the economy.
Small businesses are also looking for new ways to grow their
business. They see increasing their procurement budget (65%) and
investing in procurement (75%), especially procurement tools (49%),
are ways to do so. While these play a key role in scaling their
business, more than two-thirds (68%) of business owners surveyed
feel that there is room for optimization in their procurement
operations and half are worried that if they don't adopt artificial
intelligence technologies in 2024, their business will fall
behind.
“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,” said Shelley Salomon, vice
president of Amazon Business Worldwide. “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.”
Small Business Success Studio
Launched today, 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—provided by Amazon Business at no cost. Packing
essential know-how across finance, marketing, procurement, and
operations into easy-to-digest content, the Studio 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.
Small Business Grants Program
To further support the growth of small businesses, Amazon
Business launched the 2024 Small Business Grants program, 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, with one grand prize winner, 4
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 May 24, 2024 and winners will be
announced on July 22, 2024. For additional information and to
apply, visit www.amazon.com/smallbusinessgrant.
GiftAMeal, based in St. Louis, Missouri, was the 2023 grand
prize winner, receiving $25,000 to invest into its business. The
business donates a meal to a family in need each time a guest takes
a photo of their order from a partner restaurant. Each month, over
40,000 meals are provided through 70 local food banks in 35 states.
GiftAMeal used the 2023 grant to fuel their nationwide expansion,
empowering them to reach new communities and make a greater
impact.
“We could not be more appreciative for this recognition,” said
Andrew Glantz, founder and CEO of GiftAMeal. “The Amazon Business
grant allowed us to continue to serve underrepresented communities
and provide meals to people who need it the most.”
Amazon Business is dedicated to equipping its 6 million and
growing business customers, ranging from sole proprietors to
multinational enterprises, with smart business buying tools that
can help reshape organizational processes, fortify procurement
efforts, and ultimately, ensure procurement is better prepared for
the unpredictable. Amazon Business is committed to the growth of
small businesses and invests in education, grants, and tools to
help them overcome challenges they face, and free up time and
resources to focus on their mission and customers. To learn about
the 2023 grant winners and how they used their awards, visit the
2023 recipients page.
Survey methodology
450-500 small-business decision-makers in the U.S. were asked
about their online purchasing patterns, the challenges and
opportunities impacting purchasing processes, and the broader
landscape for small businesses. All respondents are 18 years or
older, work at a business making $25 million or less in annual
revenue, and with 20-100 employees. The survey was executed by
Morning Consult, between March 20 – April 12, 2024.
About Amazon Business
Amazon Business helps millions of customers worldwide—from small
businesses, schools, hospitals, nonprofits, and government agencies
to large enterprises with global operations — reshape their
procurement with cost and time savings, greater productivity, and
insightful purchasing analytics. Procurement and business leaders
enjoy convenient shipping options on hundreds of millions of
supplies across categories like office, IT, janitorial, food
service, and professional medical supplies. Customers also have
access to a variety of business-tailored features and benefits,
including a curated site experience, Business Prime, business-only
pricing and selection, single or multi-user business accounts,
approvals workflow, purchasing system integrations, payment
solutions, tax exemptions, and dedicated customer support. Amazon
Business is available in the United States, Canada, Mexico, the
United Kingdom, Germany, France, Italy, Spain, Japan, and India.
For more information, visit business.amazon.com,
www.amazonbusinessblog.com, and @AmazonBusiness.
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