Since 2010, Gage Personnel has proudly maintained a Women’s Business Enterprise (WBE) Certification through the Women’s Business Enterprise National Council (WBENC), the nation’s largest third-party certifier of the businesses owned and operated by women in the U.S.
Nationally recognized by thousands of major U.S. corporations and federal, state and local government entities, this certification is no small feat. The process is a lengthy and intensive one. To achieve WBENC certification, women-owned businesses complete formal documentation and a site visit process which is administered by one of WBENC’s 14 Regional Partner Organizations.
5 Benefits of Partnering with a WBENC-Certified Women’s Business Enterprise
When a company partners with a WBENC-Certified Women’s Business Enterprise (WBE), they gain many benefits, such as:
1). Provides Tax Incentives
Working with a WBENC-certified WBE can provide your company many tax benefits. The federal government affords tax incentives to those who conduct business with minority and women-owned businesses. Additionally, tax liabilities are reduced for projects funded with federal or state grants or loan when the supplier is a women-owned business. In some states, tax incentives may be available.
2). Opens New Sources of Revenue Opportunities
Research conducted by the Hackett Group shows that working with a WBENC-certified business can increase profitability with as much as 130% return on investment, providing distinct competitive advantages. Additionally, the research concluded that procurement organizations who work with a diverse supplier base also had lower overall operating costs and spent 20% less on their buying operations.
3). Diversifies Your Suppliers to Provide Multiple Procurement Channels for Goods and Services
When partnering with a WBENC-certified business, you gain access to multiple channels for goods and services which allows you to analyze various factors and choose what options are the best fit for your company’s needs. Increasing your partnerships with WBENC-certified businesses gives you the added benefit of building relationships with suppliers’ alliances.
4). Promotes Innovation and Creativity
Smaller companies typically bring innovation to the table in order to stand out among their competitors. As a smaller company, we have the advantage of agility, making course corrections, with faster turn-around time if required, and implementing innovative strategies to meet the needs of our clients.
5). Shows Your Company’s Interest in Working in Diverse Markets
WBENC-certified WBE’s are among the fastest growing sector of our economy. By working with a women-owned business you show your company’s commitment to working in diverse markets and furthering economic growth in local communities. As a supporter of supplier diversity, your business becomes more attractive to corporations who are seeking second-tier sourcing suppliers that work with women-owned businesses.
According to WBENC, the Women’s Business Enterprise National Council WBENC certification standard is the most relied upon certification of women-owned businesses as a supplier diversity business program. This certification validates that a business is 51 percent owned, controlled, operated, and managed by a woman or women.
Women’s Business Enterprise National Council WBENC aims to “foster diversity in the world of commerce. Diversity promotes innovation, opens new channels of revenue and creates partnerships which provide opportunities that fuel the economy.”
For more information about the WBENC certification, you can visit www.wbenc.org
Special thanks to fellow WBENC Certified Business, Miller Tanner Associates, for this important content! https://www.millertanner.com/advantages-partner-women-owned-certified-business/