Dive Brief:
- Walmart debuted its Grow with US initiative, which provides U.S. small businesses with training, mentorship and resources to grow in collaboration with the retail giant, according to a press release.
- With the program, Walmart is offering participating businesses access to mentors, its Supplier Academy curriculum and financial support via its Early Payment Program and Bridge Marketplace. Small businesses will also have a chance to present their businesses at product discovery opportunities like its U.S. Open Call event, RangeMe product discovery tool or the Walmart Marketplace, according to the press release.
- In June, Walmart will begin accepting applications for its annual Open Call event in October, during which small and mid-sized businesses can promote their products to Walmart and Sam’s Club merchants, per the press release.
Dive Insight:
Walmart’s Grow with US program is part of its broader efforts to reach small businesses, which comprise more than 60% of its American suppliers. Ahead of its Open Call event in Bentonville, Arkansas, Walmart is hosting a series of pop-up events in May, where businesses can meet with Walmart buyers, receive feedback on their ideas and potentially win a pass to its October Open Call, the release said.
The company’s Grow with US is part of its small business development efforts globally, including Crece con Walmart in Mexico and Vriddhi in India, the release noted.
“Small businesses are the backbone of our communities and there are countless stories of how businesses … are finding long-term growth and success with Walmart,” John Furner, president and CEO of Walmart U.S., wrote in a blog post. “We’re excited to continue providing support for and championing the achievements of these businesses every step of the way.”
The Walmart initiatives come at a time when small businesses are bracing for the impacts of President Donald Trump’s looming trade war. Unlike Walmart, small businesses lack the power to negotiate with suppliers, nor can they withstand wholesale and manufacturing price increases, according to Greg Stoller, master lecturer at the Boston University Questrom School of Business.
While some executives have been trying to persuade President Trump to reverse course, small businesses have taken a different route: the courts. Last month, several small businesses teamed up to challenge President Trump’s tariffs in the U.S. Court of International Trade.