WBENC Certification - What Does it Mean?

WBENC is a federally funded program aimed at promoting greater diversity in business. They believe that diversity spurs innovation, revenue opportunities, and is good for the economy as a whole. There is a rigorous certification process that, among other things, ensures that a business is at least 51% owned and controlled by women. Women-owned business certification was introduced by WBENC in 1997. Since then, the organization has grown into one of the largest certification bodies for women-owned, controlled, and operated businesses, and it also serves as an advocate for women-owned businesses in government and corporate supply chains.

How does partnering with a WBENC-certified business benefit you?

Working with a WBENC-Certified Women's Business Enterprise (WBE) has many advantages, including:

1). Provides tax benefits:

Tax advantages are available to your company when you work with WBENC-certified companies. Businesses that do business with minority and women-owned businesses receive tax incentives from the federal government. Also, when a woman-owned business supplies project funded by grants or loans, tax liabilities are reduced. 

2). Provides New Revenue Opportunities

WBENC-certified companies can increase profitability by 130%, providing distinct competitive advantages, according to Hackett Group research. Furthermore, the researchers found procurement organizations with a diverse supplier base had lower overall operating costs in addition to spending 20% less on purchasing operations.

3). Provides Multiple Procurement Channels for Goods and Services

Partnering with WBENC-certified businesses grants you access to multiple channels for goods and services, allowing you to analyze various factors and choose what is right for your business. By building partnerships with WBENC-certified businesses you can enhance your supplier alliances.

4). Encourages creativity and innovation.

Smaller companies are characterized by innovation that helps them stand out among their competitors. Having a smaller company gives us the advantage of being nimble, making course corrections when needed, and implementing innovative strategies to meet the needs of our clients.

5). Demonstrates Interest in Diverse Markets

Women-owned businesses are among our country's fastest-growing industries. Work with women-owned businesses to demonstrate your commitment to building a diverse economy in your community. You become more attractive to corporations seeking second-tier sourcing suppliers that work with women-owned businesses if you support supplier diversity. 

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