Amazon Business has launched its second annual Small Business Month by announcing the 2023 Small Business Grants, aimed at fostering innovation and supporting small businesses that make a positive impact in their communities. The company also released a poll highlighting the optimism and resilience of small-business decision-makers despite economic challenges.
The poll revealed that the top challenges for small businesses are high inflation (63%), economic recession (39%), and supply chain disruptions (30%). However, 55% of respondents expressed more hope for their business’s success than they did a year ago. To drive future growth, small businesses are focusing on streamlining their purchasing processes and reducing costs, with 91% identifying the ability to find affordable items, 88% emphasizing ease of locating items, and 90% highlighting the convenience of purchasing as key factors in long-term growth.
Todd Heimes, director of Amazon Business Worldwide, stated that Amazon Business offers small businesses the selection and convenience of Amazon, along with tools that help them make informed buying decisions, automate procurement, and save money through business pricing.
To further support small businesses, Amazon Business has introduced the Small Business Grants program, offering over $250,000 in grants to eligible small businesses in the U.S. with annual revenues of $1 million or less. Grant applications are due by May 21, with winners to be announced on July 17. Prizes include monetary grants, Business Prime memberships, select Amazon devices, and more.
Virtual X Kitchen, a 2022 grant finalist, received $20,000 to develop its sustainable restaurant model for urban areas, maximizing kitchen space for multiple owners and utilizing new technology to streamline the ordering process. The grant money was used for branding initiatives to increase company awareness.
Amazon Business is committed to supporting small businesses by providing education, grants, and tools that help them overcome challenges and focus on their mission and customers. The Small Business Grants program underscores the importance of small businesses in the economy and demonstrates the company’s dedication to their success.
For more information on the Amazon Small Business Grants and to apply, visit the Amazon Small Business Grants page.
This article, “Amazon Business Announces Small Business Grants and Poll Findings on Innovation and Growth” was first published on Small Business Trends