Skip to main content

President Obama Announces New Partnership with the Private Sector to Strengthen America’s Small Businesses

 Renews the Federal Government’s QuickPay Initiative
26 Companies Committed to SupplierPay Initiative

As a part of his Year of Action, the President is using the power of his pen and phone wherever he can on behalf of the American people to create jobs and help hard-working Americans get ahead. Today, the President will announce the creation of SupplierPay, a new partnership with the private sector to strengthen small businesses by increasing their working capital, so they can grow their businesses and hire more workers. 

To launch SupplierPay, the President is bringing together 26 companies – both large and small – that have committed to the initiative.  For the larger companies, joining SupplierPay demonstrates a recognition that a healthy supply chain is good for business.  For the small business suppliers, benefiting from SupplierPay means having more capital to invest in new opportunities, new equipment, and new hiring.

President Obama, Senior Advisor Valerie Jarrett, National Economic Council Director Jeff Zients, and Small Business Administrator Maria Contreras-Sweet will host a meeting at the White House today with these businesses and their suppliers to discuss what more can be done to strengthen small businesses, building on the successes of the QuickPay program.

SupplierPay builds on the success of the Federal Government’s QuickPay initiative, which President Obama launched in 2011. QuickPay requires federal agencies to expedite payments to small business contractors with the goal of paying within 15 days.  As a result of QuickPay, we have already seen well over $1 billion in cost savings for small businesses since 2011, leading to greater investment and job creation. SupplierPay is the private sector’s equivalent, where companies have committed to pay small suppliers faster or help them get access to lower cost capital.

Also today, the President is renewing QuickPay for federal small business subcontractors, where the government pays its large contractors faster and, in return, requires them to pay their small business subcontractors faster. QuickPay for small business subcontractors, which began in 2012, was only available temporarily for many small business subcontractors.  Today’s announcement means faster payment for all small business subcontractors and even more business opportunities, more investment in small businesses, and more hiring.

The following companies have signed on to SupplierPay: 

Apple                                AT&T                          Authentix                    Cardinal Health          
Coca-Cola                         CVS                            Ericsson                       FedEx
Honda                               IBM                            Intuit                           Johnson & Johnson
Kelly Services                   Lockheed Martin        Milliken                       Molina Healthcare
Nissan                               PG&E                         Philips                          Rolls Royce    
Rothschild North America                                    Salesforce                    Textura           
Toyota                               Walgreens                  Westinghouse Electric Company

Labels:

Comments

Post a Comment

Popular posts from this blog

In wake of the Zika virus, travel, spring break still O.K.

Representatives from the CDC and the NIH were on hand at the White House during Monday's press briefing to update the public and address concerns over the Zika virus that has caused some babies to be born with deformities. Dr. Anne Schuchat from the Centers for Disease Control and Dr. Tony Fauci from the National Institutes of Health told reporters that a vaccine is in the making.   The pair also said they are particulary concerned about women who are pregnant, or plan to get pregnant, who have either traveled to or plan to travel to areas of South America and the Carribean known to have the Zika virus. Despite those bold statements, the doctors said there is no wide-spread concern and that Americans should continue to travel, including during upcoming college spring breaks --  when college students travel to warmer climate destinations to escape winter weather. "Travel to Zika-affected areas is very common among Americans, and we don’t think that needs to stop...
Post a Comment
Read more

ACA Health Care Operator Fired For Doing Her Job?

More woes for the Obama administration's roll out of HealthCare.gov .    During the president's weekly address he urged Americans to call a toll-free number to get help enrolling in a health care plan as the website continues to be 'improved'. Said the president, "But even as we improve the website, remember that the website isn’t the only way to apply for coverage under these new plans.  We’ve updated HealthCare.gov to offer more information about enrolling over the phone, by mail, or in person with a specially-trained navigator who can help answer your questions.  Just call 1-800-318-2596 or visit LocalHelp.HealthCare.gov .       No sooner than the president gives out the 800 number for Americans to speak to one of the 'specially-trained navigators', one of them  gets fired, perhaps loosing her own healthcare benefits. Her malfeasance?  Talking to talk show host Sean Hannity. Hannity called the 800 number with his...
Post a Comment
Read more

Saying goodbye to Mrs. Robinson, mother of First Lady Michelle Obama.

The woman who made her mark as grandma-in-chief when President Barack Obama was elected 44th president of the United States, passed Friday. The woman who was considered the backbone of the Obama household will be remembered as a family-oriented, kind person, who remained poised as she assumed the responsibility of helping raise her two beautiful granddaughters in an environment, and in a world, far from what she ever imagined. Mrs. Marian Robinson, mother of First Lady Michelle Obama,  waves to reporters during Easter egg hunt at the White House. (photo CD Brown) I recall seeing her that day in March during Women's History Month at the Smithsonian when her daughter's Inaugural gown, like all the other first lady inaugural gowns,  was being cemented in Smithsonian history . She was smiling as she walked alone prompting me to ask, "is there no security, no secret service, for the first grandmother?" ADVERTISEMENT CMB BUSINESS SOLUTIONS   I am also reminded of the time w...
Post a Comment
Read more