Well, we finally got around to doing it…we were notified today of our certification as a woman-owned business! Click here to learn a bit more about the Women’s Business Enterprise National Council.
Research shows that companies who embrace diversity are more profitable (Hackett Group’s research results) than companies that do not embrace diversity in its business suppliers. Culturally diverse work relationships function more effectively than more homogeneous teams. Members from diverse backgrounds, experiences, and perspectives avoid “groupthink” and create greater solutions and creativity.
Another bonus to working with women-owned businesses, your company may be eligible for certain tax benefits! The federal government provides tax breaks for companies that utilize minority and women-owned businesses. There is also a second tax incentive that reduces tax liabilities for companies that use minority and women-owned businesses that supply labor or services to a project funded with federal or state grants or loans. State tax incentives may be available as well.
Here are some helpful articles highlighting why diversity matters and can help your business…
The Hackett Group: Top Supplier Diversity Programs Broaden Value Proposition To Drive Increased Market Share, Other Revenue Opportunities
Tax Incentives for Using a Minority-Owned Business
The Economic Impact of Women-Owned Businesses in the United States
