Why a Minority Provider?
Why utilize a minority owned supplier?

Many companies often deploy supplier diversity programs that are aimed at increasing the representation of minority-owned and women owned suppliers in their supply base. For some companies, supplier diversity programs are based on social considerations. However, an increasing number of companies have focused on supplier diversity simply because it is good business. Minorities and women owned businesses now represent very large sales growth markets, especially in consumer goods, and companies realize that increasing the amount of business with minority and women owned businesses may mean increased sales for their own firm over the long term.

BELOW IS AN EXAMPLE OF A MAJOR CORPORATION'S - SUPPLIER DIVERSITY POLICY :

1st & 2nd Tier Supplier Expectations:
We believe that everyone benefits when all businesses are afforded an opportunity to compete in the marketplace. We encourage our 1st Tier suppliers to establish a goal of purchasing at least 6% of all goods and services from certified minority business enterprises and 2% from certified women-owned business enterprises. Suppliers who do not establish Supplier Diversity Development Programs containing 5 year M/WBE purchasing objectives and demonstrate a record of achieving these goals may place their business relationship with our company at risk. Our company believes that creating opportunities for M/WBE enterprises is an imperative and wishes to partner with suppliers who share this philosophy.

Programs to stimulate growth of minority-owned businesses have existed in the United States since the late 1960s. The term minority-owned suppliers is used by the U.S. federal government to describe a company that is at least 51% owned by minorities such as a African Americans, Hispanic Americans, Native Americans, or Asian-Pacific Americans. Women-owned businesses and firms are designated as companies that are owned and operated at least by 51% of female ownership.

For more information, visit - www.wbenc.org
 

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