5 Benefits of Partnering with A WBENC Certified Women’s Business Enterprise

The accreditation, which is recognized by thousands of large U.S. organizations as well as federal, state, and local government entities, is no small achievement. The procedure takes a long time and requires a lot of effort. Women-owned businesses must complete formal documentation and a site visit process performed by one of WBENC's 14 Regional Partner Organizations to receive WBENC accreditation.

Partnering with a WBENC-Certified Women's Business Enterprise Has Advantages.

When a corporation works with a WBENC-Certified Women's Business Enterprise (WBE), they obtain many advantages. Let’s dive into more about WBENC information:

1) Offers Tax Incentives

Working with a WBENC-certified WBE can give your business numerous tax advantages. Those that do business with minority and women-owned firms are eligible for tax breaks from the federal government. Additionally, when a project is sponsored with federal or state grants or loans, tax responsibilities are lowered when the supplier is a woman-owned firm. As per the WBENCinformation Tax incentives may be provided in some states.

2) Provides access to new revenue streams

According to the WBENC information working with a WBENC-certified company can enhance profitability by as much as 130 percent, according to research conducted by the Hackett Group, giving you a distinct competitive advantage. Furthermore, procurement companies that deal with a varied supplier base had reduced overall operating expenses and spent 20% less on their buying operations, according to the study.

3). Diversify your suppliers to offer a variety of goods and service procurement channels.

When you work with a WBENC-certified company, you gain access to many channels for goods and services, allowing you to weigh different considerations and determine which solutions are best for your organization's needs. Increasing your collaborations with WBENC-certified companies has the added benefit of strengthening your supplier alliances.

4). Encourages creativity and innovation.

Smaller businesses are more likely to innovate to differentiate themselves from their competitors. We have the advantage of agility as a smaller firm, which allows us to make course corrections more quickly if necessary and execute creative solutions to satisfy our clients' needs.

5). Demonstrates your company's willingness to work in a variety of markets.

WBENC-certified WBEs are one of our economy's fastest expanding sectors. Operating with a woman-owned business demonstrates your company's dedication to working in a variety of marketplaces and contributing to local economic progress. As a proponent of supplier diversity, your company becomes more appealing to firms looking for second-tier sourcing suppliers who collaborate with women-owned companies.

The WBENC information’s WBENC certification standard is the most widely accepted accreditation of women-owned firms as a supplier diversity business initiative, according to WBENC. This certification verifies that a company is owned, controlled, operated, and managed by a woman or woman to the tune of 51 percent.

"Foster diversity in the realm of trade," says the Women's Business Enterprise National Council (WBENC). Diversity fosters innovation, provides new revenue streams, and fosters collaborations, all of which help to fuel the economy."

For more WBENC information you can visit www.wbenc.org for more information about the WBENC certification.