Here at Living Abroad, we’re excited to announce that we became certified by the Women’s Business Enterprise National Council (WBENC) earlier this year. WBENC’s mission is to fuel economic growth globally by identifying, certifying, and facilitating the development of women-owned businesses. A business must be at least 51% owned and controlled by women and undergoes a rigorous certification process.
Here are five reasons why doing business with a women-owned company offers a global competitive edge:
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Tax Incentives – The United States government supports supplier diversity as a business strategy. As a result, working with a women-owned business can result in some federal tax benefits. Some states, like California and Georgia, even offer tax incentives for working with women-owned companies.
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Quality and Reliability – While starting new partnerships with suppliers can be risky, research shows that you can mitigate that risk by partnering with a diverse supplier. According to a study from The Hatchett Group, ninety-nine percent of diverse suppliers met or exceeded their clients’ expectations.
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Community Growth – Diverse companies are some of the fastest growing and most innovative in our country. The good news is that these companies are everywhere. Working with women-owned businesses means you will be investing in communities spurring economic opportunity and growth.
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Revenue – Working with diverse organizations is proven to be good for business. Many companies see an increase in market share, and access to new opportunities.
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Job seekers inquire about company diversity – About two-thirds of those seeking new employment opportunities will inquire about a company’s diversity policies. This is especially true for Millennials and Gen Z professionals. They want to know if the company hires a diverse workforce, helps employees in underrepresented groups advance, and seeks out diverse suppliers.
Michael Robinson Program Director – Global Supplier Diversity, IBM, says, “Diverse suppliers help us provide value to the customer, strengthen our brand, understand our markets, and identify what’s coming next in the world of technology.”
Written by Cathy Heyne, GMS-T, President
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