Employee Recognition, Incentive Rewards, Sales Incentive
5 Benefits of Partnering with a WBENC-Certified Women’s Business
What defines a certified women-owned business? Rymax proudly maintains a Women’s Business Enterprise (WBE) Certification through the Women’s Business Enterprise National Council (WBENC), one of the most widely recognized national certifications for women-owned businesses in the U.S. The certification is now considered the gold standard for women-owned business certifications and is accepted by more than 1,000 corporations.
The process is lengthy and intensive. To achieve WBENC certification, women-owned businesses complete formal documentation and a site visit process which is administered by one of WBENC’s 14 Regional Partner Organizations.
Being WBENC-certified signifies more than just a label; it represents a commitment to excellence, diversity, and inclusion. Here are five compelling benefits of partnering with a WBENC-certified enterprise like Rymax:
Open New Sources of Revenue Opportunities:
Research by the Hackett Group underscores the profitability of working with WBENC-certified businesses with a remarkable 130% return on investment, offering distinct competitive advantages. Moreover, companies engaging with diverse suppliers experience lower operating costs and reduced expenses on procurement operations, as evidenced by the research findings.
Demonstrate Corporate Social Responsibility:
Partnering with a WBENC-certified company demonstrates your company’s commitment to corporate social responsibility (CSR). By actively supporting women-owned businesses, you contribute to the advancement of gender equality, diversity, and inclusion in the business world. This commitment enhances your brand reputation, attracts socially conscious partners and customers, and strengthens stakeholder relationships.
Meeting Supplier Diversity Goals:
Many corporations and government agencies have established supplier diversity programs aimed at increasing procurement from historically underrepresented groups, including women-owned businesses. Partnering with a WBENC-certified WBE allows your company to meet or exceed these diversity goals, enhancing your reputation as a socially responsible organization committed to diversity and inclusion.
Enhance Innovation and Creativity:
Diversity breeds innovation. Collaborating with a WBENC-certified enterprise brings diverse perspectives, experiences, and talents to the table. Diversity of thought sparks creativity, encourages out-of-the-box thinking, and fosters innovation within your organization. By embracing diverse suppliers, you tap into a rich reservoir of ideas and solutions that can drive your business forward.
Tax Incentives:
One of the immediate benefits of working with a WBENC-certified WBE like Rymax is access to tax incentives. The federal government offers tax benefits for conducting business with minority and women-owned enterprises. Additionally, projects funded with federal or state grants or loans enjoy reduced tax liabilities when partnering with women-owned businesses.
Partnering with Rymax not only brings tangible benefits to your organization but also aligns with a broader commitment to diversity, inclusion, and economic empowerment. With many benefits from tax incentives and revenue growth opportunities to enhanced innovation and market diversification, partnering with Rymax will drive business success and contribute to building a more equitable and inclusive business ecosystem.
Please contact us today to explore how we can help you integrate all the benefits of women-owned businesses into your business.
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