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How to Diversify Your Supply Chain

by Theresa

Being a woman-owned business in an industry dominated by men offers a great opportunity for businesses to invest in female entrepreneurs and support the growth of small businesses. Supporting women-owned businesses has a bunch of perks for your business. With International Women’s Day approaching (March 8th) we’ve outlined the reasons your company should invest its time and effort in supporting women-owned businesses.

Economic Development

Supporting a certified woman-owned business means investing in women’s economic empowerment, gender equality in business, and sustainable economic growth. Working with women-owned businesses helps provide women entrepreneurs with the same opportunities and growth potential as male counterparts. When you help women-owned businesses grow, you’re helping a business offer more jobs to your community; Which in turn, has a positive impact on the economy. According to the Women’s Business Enterprise National Council, most women-owned businesses generate less than $250K in revenue, yet data shows that substantial business growth begins after reaching $250K in revenue.

Tax Incentives

By partnering with a certified women’s business your business can receive tax benefits from the federal government. Tax credits can incentivize investments in small businesses by giving investors a credit they can deduct from their state tax bill. Roughly 12.9 million women-owned businesses in the U.S. which represent 42 percent of all businesses.

Diversifies your Suppliers

Diversifying your suppliers is more than switching where you get your products from. It’s taking an active role in helping businesses grow and reach new potential. Not many people consider using a vending management company to handle their vending and refreshments. Working with National Vending opens the door to a lot of great benefits like upgraded refreshment program, new products for your employees and can actually help your company by providing ancillary income. Businesses like yours can receive all these perks, just by working with us. Diversifying who your business works with can create more freedom and flexibility in your companies supply chain. We can work within certain budgets and help keep the cost of refreshment programs low.

It Makes Your Business Look Good

In today’s world, the people you do business with is almost as important as how you do business. Being able to show potential clients, the community, and investors your diverse portfolio of supplier partners is a great way to show others you care about creating an equal opportunity for everyone.

Are you ready to support women-owned businesses this International Women’s Day?

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