Business Opportunities Weblog

July 13, 2009 by Rich Whittle | 0 Comments

The New York Times:

For a small business, especially in the current weak economy, a contract to supply goods or services to a large corporation can be a welcome lifeline.

Some big companies, meanwhile, are seeking to expand their network of small suppliers.

To serve both their interests, some major corporations, including I.B.M., Wal-Mart, Procter & Gamble and Home Depot, offer programs to mentor small companies, particularly businesses owned by women, blacks, Hispanics and other groups.

Some corporations, including I.B.M., work with small suppliers who have good if modest track records by assigning an executive to give hands-on advice and guidance for periods of up to 18 months.

Since it began mentoring suppliers in 2003, I.B.M. has used volunteers from its ranks to guide 50 small companies, said Michael K. Robinson, the program’s director.

Despite the economic downturn, Mr. Robinson said I.B.M. was continuing to focus on helping its suppliers because “we spent nearly $2.5 billion in 2007 with 350 suppliers in the United States alone.” I.B.M. is one of 16 major corporations — Honda is the newest member — that make up the Billion Dollar Roundtable.

Each member corporation spends at least $1 billion annually with minority- or women-owned suppliers.

Photo by IBM.

In Small Biz, Strategy | 0 Comments