Loblaw Companies Ltd. is introducing a new Small Supplier Program this January.
The program will provide faster payments, streamlined processes, a six-month guaranteed listing period and support for new and existing small suppliers.
"Small businesses are the lifeblood of our economy, and the path to this country's successful future," said Per Bank, president and CEO, Loblaw, in a statement. "Every day, we experience the terrific power of innovation in many family-owned, traditional and local producers and we want to assist their ability to develop new products and generate a truly diverse and inspirational range. By making the onboarding and retailing process easier for small businesses, our goal is to reduce their time and costs, to the benefit of all Canadian customers."
As part of the new program, payment terms will be reduced up to a maximum of seven days; small suppliers can access support from dedicated team members at Loblaw’s office and regionally, as well as training and resources; Loblaw will adjust supply chain programs and subsidize retail industry fees; and the company is offering a six-month on-shelf commitment, while waiving associated listing fees.
Loblaw has an existing roster of over 1,000 small businesses.
"Running and developing a small business includes plenty of hard work and lots of administration. Our Small Supplier Program provides a constructive, meaningful and simple way for small suppliers who need it the most to get their products onto our shelves in order to thrive and flourish," Bank stated.