Apple Spent $3 Billion With 7,000 U.S. Small Businesses Last Year
Chris Hondros / Staff / Getty Images
But today the company released a statement about its relationship with American small businesses, prompted by Apple SVP of Operations Jeff Williams, who attended a meeting with President Obama after Apple adopted the White House's SupplierPay initiative.
"Last year, Apple spent more than $3 billion with over 7,000 suppliers running small and diverse businesses, creating tens of thousands of U.S. jobs," said the company in a statement obtained by TechCrunch.
SupplierPay requires Apple to pay its small business contractors within 15 days. The initiative is based off of the QuickPay program, which stipulates that the federal government pay contractors within 15 days.
The thinking goes that speeding up payments to small businesses will enable them to grow at a faster rate.
Apple is not the only large company to join the SupplierPay initiative. AT&T, Salesforce, and Coca-Cola are among the 26 companies to agree to speed up contractor payments.
- A centenarian who starts her day with gentle exercise and loves walks shares 5 longevity tips, including staying single
- A couple accidentally shipped their cat in an Amazon return package. It arrived safely 6 days later, hundreds of miles away.
- Colon cancer rates are rising in young people. If you have two symptoms you should get a colonoscopy, a GI oncologist says.
- Having an regional accent can be bad for your interviews, especially an Indian one: study
- Dirty laundry? Major clothing companies like Zara and H&M under scrutiny for allegedly fuelling deforestation in Brazil
- 5 Best places to visit near Darjeeling
- Climate change could become main driver of biodiversity decline by mid-century: Study
- RBI initiates transition plan: Small finance banks to ascend to universal banking status
- JNK India IPO allotment date
- JioCinema New Plans
- Realme Narzo 70 Launched
- Apple Let Loose event
- Elon Musk Apology
- RIL cash flows
- Charlie Munger
- Feedbank IPO allotment
- Tata IPO allotment
- Most generous retirement plans
- Broadcom lays off
- Cibil Score vs Cibil Report
- Birla and Bajaj in top Richest
- Nestle Sept 2023 report
- India Equity Market