Verizon Puts Purpose into Action, Helping 1M Small Businesses and $10M Commitment

Rhea-AI Summary

Verizon is committing to support small businesses with a multi-year initiative to uplift one million businesses by 2030. This includes a $10 million investment through the Local Initiatives Support Corporation (LISC) to support businesses in underserved areas. Verizon will host the Big Concert for Small Business on February 7, featuring various artists, to raise funds and awareness. The program will also offer training and 5G connectivity to aid small businesses in their digital transformation. These efforts are part of Verizon's broader Citizen Verizon plan aimed at social and economic advancement.

Positive

• Commitment to support one million small businesses by 2030.
• $10 million investment to aid small businesses through LISC.
• Hosting the Big Concert for Small Business to raise awareness and funds.
• Partnerships with local businesses to provide 5G connectivity.

Negative

• None.

Brings communities across the country together for The Big Concert for Small Business, the ultimate Super Bowl LV after-party supporting small business

What you need to know:

• Verizon is making a multi-year commitment to bring one million small businesses forward by 2030 with resources to help them succeed in the digital economy
• The Verizon Big Concert for Small Business, the ultimate livestreamed Super Bowl LV after-party, will be hosted by Tiffany Haddish and feature performances by Alicia Keys, Brandi Carlile, Brittany Howard, Christina Aguilera, Eric Church, H.E.R., Jazmine Sullivan, Luke Bryan and Miley Cyrus on Sunday, February 7
• Verizon is committing $10 million to small business support through the nonprofit Local Initiatives Support Corporation (LISC), focusing on business owners in historically underserved communities
• Verizon has partnered with select Tampa-area small businesses to equip them with 5G connectivity and tools to accelerate their digital transformation and aid in their recovery

BASKING RIDGE, N.J. , Feb. 01, 2021 (GLOBE NEWSWIRE) -- As small business owners across the country continue to face uncertainty amid the ongoing effects of the COVID-19 pandemic, Verizon announces a number of initiatives to support their recovery and aid in their survival through the pandemic and beyond. The company is committing $10 million to provide grants to small businesses through LISC, a national nonprofit that invests in affordable housing, economic development, health, education and jobs nationwide, and will launch a customized multi-week training program for small business owners and entrepreneurs, offering tools, technology and resources. These initiatives are part of Citizen Verizon, the company’s responsible business plan for economic, social and environmental advancement.

“For small business owners today, we know that opening a digital front door is as important as a physical one,” said Tami Erwin, CEO of Verizon Business. “This multi-year effort underscores the role financial assistance, technology and training will play in rebuilding small businesses for both short-term and long-term economic recovery.”

To kick off the program, Verizon is producing The Big Concert for Small Business, the ultimate after-party for Super Bowl LV on Sunday, February 7 at 11:00 p.m. ET. Hosted by Tiffany Haddish and featuring performances by Alicia Keys, Brandi Carlile, Brittany Howard, Christina Aguilera, Eric Church, H.E.R., Jazmine Sullivan, Luke Bryan and Miley Cyrus, the concert will be livestreamed on Yahoo, Fios, @Verizon on Twitter, Twitch, YouTube and TikTok, and broadcasted on BET, CBS Sports Network, CMT, MTV2 and MTV Live, as well as aired on iHeart and Sirius. The event is curated and produced by Roc Nation.

"Small businesses are so important and we need to do whatever we can to keep them alive; our communities can't recover without them,” said Alicia Keys. “I’m excited to be partnering with Verizon and the rest of these amazing artists to not only be able to take the stage and bring that good music and light but to do it for such a meaningful cause.”

“When we launched Pay It Forward Live, the weekly entertainment series that supported small businesses last March, we had no idea the need for help would still be so critical almost a year later,” said Diego Scotti, CMO, Verizon. “We made magic happen by collaborating with the entertainment industry and mobilizing the public, impacting thousands of businesses. We’re doing it again, in an even bigger way, with the Big Concert for Small Business, bringing people together after Super Bowl LV to help the small businesses that are the heart of the American economy.”

Verizon’s training program will provide in-depth assistance through end-to-end resources - including curriculum, mentorship, networking and incentives, such as 5G products and services and connection to affordable capital - with the goal of engaging 100,000 businesses per year. Full details will be available in May. For the latest information, please visit Verizon.com/smallbusinesstraining.

To rally support, Verizon is asking the public to share what local small businesses they can't live without. From February 1-7, individuals can tag their favorite small business on Twitter using #BigConcertSmallBiz for a virtual spotlight during Verizon’s Big Concert for Small Business. Verizon is also supporting a text-to-give campaign. Wireless users on any carrier can text SMALLBIZ to 20222 to make a one-time donation of $10 to LISC.

As 5G technology continues to advance, Verizon is helping small business owners realize the potential of 5G to revolutionize the way they operate, increasing productivity and lowering operational costs. In a recent Verizon Business 5G Enterprise Report, 63% of small business decision makers felt that businesses that do not adopt 5G will fall behind their peers. Additionally, nearly a third (31%) are either currently or planning to, within the next six months, provide employees an allowance or stipend to upgrade their wireless device and service to 5G.

Coinciding with Super Bowl LV, Verizon Business has partnered with select small businesses in Tampa and other markets to empower them with connectivity, security and support with the power of Verizon’s 5G Ultra Wideband network. This program will provide small businesses with customized Verizon Business connectivity, tools and products to digitally transform their businesses and help them navigate today’s business landscape.

These efforts to impact the long-term survival of small businesses and the kick off concert the night of the game are part of Verizon's actions to bring the Super Bowl LV experience forward with 5G built right. After a year like no other, innovation to move the world forward and bring people together safely is more important than ever. More information here.

Verizon Communications Inc. (NYSE, Nasdaq: VZ) was formed on June 30, 2000 and is one of the world’s leading providers of technology, communications, information and entertainment products and services. Headquartered in New York City and with a presence around the world, Verizon generated revenues of $128.3 billion in 2020. The company offers data, video and voice services and solutions on its award-winning networks and platforms, delivering on customers’ demand for mobility, reliable network connectivity, security and control.

About Citizen Verizon
Citizen Verizon is the company’s responsible business plan for economic, environmental and social advancement. Citizen Verizon empowers Verizon to deliver on its mission to move the world forward through action by expanding digital access and resources, protecting the climate, and ensuring people have the skills needed for jobs of the future. Through Citizen Verizon, and the key pillars of Digital Inclusion, Climate Protection and Human Prosperity, the company is committed to providing 10 million youths with digital skills training by 2030, supporting 1 million small businesses with resources to help them thrive in the digital economy by 2030, achieving carbon neutrality in its operations by 2035, and preparing 500,000 individuals for jobs of the future by 2030. Learn more at CitizenVerizon.com.

VERIZON’S ONLINE MEDIA CENTER: News releases, stories, media contacts and other resources are available at www.verizon.com/about/news/. News releases are also available through an RSS feed. To subscribe, visit www.verizon.com/about/rss-feeds/.

Media contacts:
Emily Vicker
Emily.Vicker@verizon.com

Lauren Schulz
Lauren.Schulz@verizon.com