The Business Case for Supplier Diversity: Three Streams of Opportunity
Throughout this website you have heard about the important work GGBA is doing to open the ‘pipelines’ of contract opportunities within the procurement programs of large corporations. This is stream Number One. We have key partners like the NGLCC who are working tirelessly with over 160 corporations on that front. We encourage you to get LGBTBE certified and step into this exciting procurement stream. Contact firstname.lastname@example.org for customized support for this area.
Stream Number Two of our Supplier Diversity efforts focus specific attention on the ‘business to business’ opportunities that come directly from interaction between GGBA members. This is an important, and potentially huge, stream of business growth opportunity for you because GGBA is ‘chock full’ of business decision makes who are looking to hire services from the entire gamut of professional services, contractors, manufacturers, commodities business found within the GGBA. When the GGBA talks about ‘Living Its Mission’ it is this ‘B2B’ stream we are referring to most. Our Make Contacts, Roundtables, Power Lunch, Toastmasters, Workshops, BEN Groups are designed to focus specific intention on ‘connecting’ people so that they can hire the ‘solutions’ that your company provides. The opportunities in this stream are literally limitless but you need to ‘get engaged.’ You can’t sit on the sidelines – you need to step into the stream! Monitor ggba.com frequently for events that happen numerous times throughout each month.
Stream Number Three is the pipeline that originates from government contracting opportunities. This sector is growing rapidly thanks to our colleagues and elected officials in local, state and federal government agencies. There may be specific certifications that are relevant based on the specific government agency (including your LGBTBE) but the rewards can lead to sustainable business growth for your business both as a Prime Contractor AND as a subconsultant/subcontractor. Contact email@example.com for customized support for this procurement channel.
LGBTQ BUSINESS ENTERPRISE CERTIFICATION
The National Gay & Lesbian Chamber of Commerce is the exclusive, third-party certification body that verifies that eligible businesses are majority-owned by LGBTQ individuals, and subsequently grants LGBTQ Business Enterprise (LGBTBE) designation to such businesses as part of its LGBTQ Supplier Diversity Initiative. As an NGLCC affiliate chamber, GGBA members have the ability to certify their business as a LGBTBE at no additional cost.
More than 140 major corporations including Wells Fargo, PG&E, US Bank, Genentech and New York Life have begun to recognize LGBTQ owned businesses as part of their diverse supply chain. Because of the hard work of NGLCC, GGBA and our sister chambers across the State of California, Corporations and government agencies in California are beginning to track how much they spend with LGBTQ businesses for the first time in history. In 2016, the Human Rights Campaign’s Corporate Equality Index will begin to require that companies make efforts to include LGBTBEs in order to receive a score of 100. Your company can benefit from this historic opportunity!
Does your business meet the following criteria?
- Majority (at least 51%) owned, operated, managed, and controlled by an LGBTQ person or persons who are either U.S. citizens or lawful permanent residents
- Exercises independence from any non-LGBTQ business enterprise
- Has its principal place of business (headquarters) in the United States
- Has been formed as a legal entity in the United States
If you are interested in learning more about SF LGBTQ business certification and about certification as an LGBTBE in general, please contact firstname.lastname@example.org or join us for our next Supplier Roundtable.