November 18, 2014
By Bob Coleman
Editor, Coleman Report
Says SBA Administrator Contreras-Sweet, “As the advocate for our nation’s entrepreneurs, I know that supply chain growth is a priority as I work to improve resources for our nation’s economic engines – small businesses. That is why today I am proud to join with the White House in announcing more corporations, which have joined this partnership, to ensure access to affordable working capital, which is often the greatest challenge faced by America’s small suppliers.
“When small business suppliers wait 120 days to get paid, that’s four months without the revenue to compete for and to fulfill new contracts, making it more difficult to add more employees to the payroll. The companies which have taken the SupplierPay pledge have made a powerful collective statement about the leadership role of large buying organizations in supporting the health and vitality of America’s supply chains, and the hundreds of thousands of small businesses that comprise it.”
Unlike the federal government’s QuickPay initiative goal of 15 days, the promise is to either pay suppliers quicker, or provide financing.
Oh, and don’t bother looking for Main Street killer, Walmart to take the pledge.
Here is the elite list of the socially responsible:.
Cook Inlet Region, Inc.
Dun & Bradstreet
Johnson & Johnson
McGraw Hill Financial
Rothschild North America
Sacramento Municipal Utility District
Sempra Energy Utilities
Southern California Edison
Westinghouse Electric Company