What is WBENC Certification and How It is Important?

A program funded by the federal government aimed at promoting greater business diversity. In their view, diversity stimulates innovation and revenue opportunities, as well as is good for the economy as a whole. Among other things, there is a rigorous WBENC certification process that ensures that a firm is owned and controlled by at least 51% of women. WBENC initiated the process in 1997. A few years later, the organization became one of the leading WBENC certification bodies for women-owned, controlled, and operated businesses, as well as an advocate for women-owned businesses in the government and corporate supply chains.

What are the benefits of partnering with a WBENC-certified business?

There are many advantages to working with a WBENC-Certified Women's Business Enterprise (WBE), such as:

1). Benefits from taxation:

WBENC-certified companies offer your company tax advantages. Federal tax incentives are available to businesses that do business with minority and women-owned businesses. Tax liabilities are also reduced when a woman-owned business supplies a project that has been funded by grants or loans.

2). Increases revenue opportunities

Companies certified by the WBENC can increase profits by 130%, offering distinct competitive advantages, according to a Hackett Group study. In addition, the researchers discovered procurement organizations with a diverse supplier base had lower overall operating costs and spent 20% less on purchasing operations.

3). Multiple procurement channels for goods and services

As a result of partnering with WBENC certification authenticated businesses, you gain access to multiple channels for goods and services’, enabling you to analyze various factors and select what is right for your business. Your supplier alliances will be strengthened if you partner with WBENC-certified businesses.

4). Facilitates creative and innovative thinking.

Innovation is what distinguishes smaller companies from their competitors. Being a smaller company allows us to be nimble, make changes when needed, and develop innovative strategies to meet the needs of our clients.

5). Shows interest in a variety of markets

Among the fastest-growing industries in our country are those owned by women? Establish partnerships with women-owned businesses with WBENC certification to show your commitment to building a diverse economy. Corporations looking for second-tier suppliers that work with women-owned businesses become more attracted to you if you support supplier diversity.

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