Posts Tagged Women Leadership

Top 3 Benefits of Partnering with a Women-Owned Business

Meetings & Incentives Worldwide (M&IW) is honored to be a trusted certified Women’s Business Enterprise (WBE) by the WBDC-Chicago, a regional certifying partner of the Women’s Business Enterprise National Council (WBENC) for the seventh consecutive year. M&IW owned by sister team, Jean Johnson and Tina Madden, are committed to a diverse work environment that backs its words with accountable actions.

“We are very excited to offer this additional value to our current and future clients committed to supplier diversity programs,” said Jean Johnson, CMP, Co-CEO and Chief People Officer. By including women-owned businesses among their vendors, corporations, and government agencies, organizations demonstrate their commitment to fostering diversity and the continued development of their supplier/vendor diversity programs.

While there are many benefits of working with diverse suppliers, there are three that stand out as being the most impactful to a business’s bottom line.

Top Three Benefits of a Supplier Diversity Program

  1. The Federal Government Offers Tax Incentives

Partnering with diverse and minority-owned suppliers, including WBENC provides many tax incentives from the federal level. Not only does a business receive a tax break, but they also may be able to take advantage of reduced tax liabilities if minority vendors and suppliers are being used for federal or state-funded grants or loans. As a certified organization, we can provide you with all the information needed to leverage this opportunity.

  1. Diverse Partners Can Increase Procurement Channels

Diverse suppliers have deep relationships with other vendors that may provide additional saving across your business. The strength of these relationships and their commitment to quality and innovation often leads to a tangible increase in savings and resources for obtaining goods and services.

3. Strategic Diversity Aligns Revenue & Economic Impact

Supplier Diversity programs offer an impactful and marketable way to differentiate yourself from your competitors to shareholders, employees, and consumers, which may increase business opportunities. Diversity-leading organizations know they need leaders who both understand and reflect the needs of their customers. Women-owned businesses are also one of the fasted growing sectors of our economy. Showcasing your company’s commitment to doing business in diverse markets increases economic growth in many communities.

Why Diversity Matters to Us

We live in a deeply connected and global world. It should come as no surprise that more diverse companies are achieving better performance. “We need to attract, develop and retain diverse leaders who both understand and reflect the needs of our customers,” said Tina Madden, Co-CEO and Chief Customer Officers. Additionally, as a certified WBE, we are dedicated to a supplier diversity strategy that seeks out and utilizes women-owned and minority suppliers internally and within our customers’ events.

 

 

 

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