The demographics of the American economic landscape have changed dramatically, and company leaders know that supplier diversity programs offer them the best chance to do business with the diverse groups representing their customer and supplier base.
WBENC’s national standard of certification includes a meticulous, in-depth review of the business and a site inspection. The certification process is designed to confirm the business is and remains at least 51% owned, operated, and controlled by a woman or women.
The Women’s Business Enterprise Council (WBENC) is the nation’s largest third party certifier of businesses owned and operated by women in the United States. WBENC is a resource for more than 700 US companies and government agencies that rely on WBENC’s certification as an integral part of their supplier diversity programs.
What does WBENC certification mean for your business?
- Supplier diversity programs are corporate initiatives which are designed to create mutually beneficial business relationships between previously disadvantaged Growth Market Enterprises (such as women, ethnic minorities, and disabled business owners) and large corporations that can purchase their products and services.
- While many companies have a lot of catching up to do, at least 350 of the Fortune 500 maintain regular contacts and business associations with diverse suppliers.
- Supplier and diversity departments monitor and report on supplier diversity practices to achieve the company’s targets and continually improve results.
- Most companies set goals for their diversity initiatives that must be met on an annual basis.
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