Small Business Supplier Alliance
An economic development initiative to increase the number of new and high growth small businesses utilizing best-in-class suppliers.
Why this matters
Suppliers play a crucial and often underappreciated role in the ecosystem, providing important solutions and innovating in their respective industries.
While the majority of suppliers operate in the best interests of owners, there are a substantial number focused on providing low quality solutions through unethical means, weakening the ecosystem and wasting owner’s time, focus and money.
New and high growth firms make up a fraction of the small business sector2, but are the engine of small business job creation3 and are also the most likely to be currently receptive to new solutions. Ensuring these prime growth firms are connecting with high quality suppliers is key to strengthening the ecosystem, as once a firm selects their suppliers, the vast majority will never switch4, even if a better solution exists.
1. Goldman Sachs. “Progress Report on Goldman Sachs 10,000 Small Businesses: Fourth Edition”, 2018. Available online. 2. Waters, Steve. “Quantifying Prime Growth Small Businesses”, SMB Intelligence, May 2018. Available online. 3. Decker, Ryan and John Haltiwanger, Ron Jarmin, Javier Miranda. “The Role of Entrepreneurship in US Job Creation and Economic Dynamism”, Journal of Economic Perspectives Vol. 28 No. 3, Summer 2014. Available online. 4. Waters, Steve. “Understanding the Concept of Small Business Receptivity”, SMB Intelligence, May 2018. Available online.
How the Alliance works
We partner with a limited number of companies in each supplier category, with the purpose of helping them increase the number of new & high growth small businesses utilizing their solutions, and by doing so, helping to displace bad actors in the ecosystem.
We do this by providing member companies with access to the Prime Growth Framework, a combination of bi-weekly datasets and strategic insight that enables users to continually identify current prime growth small businesses (new & high growth) and group them into nine segments based on their current growth priorities.
This powerful insight allows suppliers to align their value to the current growth needs of each segment, create highly relevant, timely and compelling value propositions, and more effectively deliver growth solutions to the right firms, at the right time.
The Prime Growth Framework is currently in use by North America’s largest economic development agencies including Empire State Development and the California Governor’s Office of Economic & Business Development, Fortune 500 companies, leading venture capital firms, and high-growth b2b startups. The framework is also used to support research by economists at the Federal Reserve Board of Governors, and by students at Stanford Graduate School of Business.