Benefits of working with minority and female-owned businesses

Benefits of working with minority and female-owned businesses

Women and minority owners bring a plethora of knowledge and experience to the table that may otherwise be absent from the workplace. In addition to the financial benefits that come from working with an M/WBE (minority/women’s business enterprise), there are many other opportunities that arise from these valuable partnerships.

What is an MBE?

When speaking of MBEs, a minority is defined as African-American, Alaskan Native, American Indian, Asian-American, Hispanic, and women. In order to achieve minority-owned status and certification, 51% of the business must be controlled by one of these groups. To find out if your business qualifies as an MBE,  contact the NMSDC affiliate council closest to you to learn more about the certification process.

The benefits of partnering with a MBE

To encourage partnerships with MBEs, the federal government provides tax breaks to companies that contract MBEs, which can be a huge benefit for your business. In addition, partnering with MBEs increase your exposure to a wide range of communities and customers, and enhances your brand recognition in a positive way.

Companies who embrace diversity are more profitable, and have the skills and wide range of perspective to be successful in the 21st century world of commerce, and furthermore, efficiently fill mandated diversity quotas.

Diversity is valued today, and individuals among your company, and those outside, take notice of diversity in the workplace. By working with MBEs, you make it known that you support and value skillful females and minorities in your trade, which can create lifelong benefits for your business. 

Strengthen your own business with minority-owned partnerships

The worth of an experienced and skillful female in business is invaluable. Today, more than ever, companies are not only looking for businesses that have strong female voices, but many are inclined to partner with MBEs due to their unique training and experiences, to publicly show they value diversity in the workplace, and last but not least, to receive tax incentives from these partnerships.

Are you ready to take your business to the next level and receive valuable benefits from working with a minority-owned business? Contact SpeakSpace, a certified woman-owned business, to begin a profitable relationship today.

One thought on “Benefits of working with minority and female-owned businesses

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