Supplier diversity issues will be tackled by stakeholders during the “DIVERSITYNYC 2014” forum on 30 May 2014, 12:00NN – 3:00PM at the NYC Small Business Solutions Center Jamaica NY. The forum is a collaborative event headed by Head Exposed with industry leaders, namely, New York City Business Solutions, GovPurchase, Stampedestarter, Laguardia SBDC, and Brandbuilder.
According to Nelson Nigel, CEO of procurement content company Head Exposed:
“Corporations, and government at the federal, state, and local levels, are actively seeking to do business with minorities, women, vets, and the LGBT community. What are called ‘diverse-owned businesses’ is the fastest-growing segment of the U.S. economy, generating almost a half a trillion dollars in annual revenue. And women-owned businesses generate two and a half times that amount. Numbers like that can’t be ignored.”
The forum will also feature a panel of specialists in business diversity including Nigel, Kim Thompson of Govpurchase, Danilo Djuretic, SBDC (Small Business Development Center) Advisor at LaGuardia College, and Lloyd Cambridge of NYC Business Solutions. The panel discussions will be moderated by Akia Garnett, CEO of Brandbuilder.
The interconnected relationships between public and private organizations extend to procurement, the process of acquisition of products and services from external sources. But procurement has taken on a new face in a world of increasing minority presence and power.
Enter supplier diversity into the picture. Supplier diversity refers to a strategic business program closely associated with the procurement of products and services from minorities particularly businesses owned by ethnic minorities, women, veterans, LGBT, and underutilized organizations as well as small business vendors identified by the Small Business Administration (SBA).
The program aims to provide identified minorities with opportunities to compete with established suppliers in the market. In the process, they can also sell their products and services, grow their businesses, and keep the momentum of economic growth.
The “DIVERSITYNYC 2014” forum is a rousing opportunity for both sellers and buyers to come together and to promote their mutual interests. Supplier diversity is just as important for the sellers (i.e., minority suppliers) as it is for the buyers of their products and services.
Corporations must learn to incorporate the interests of their minority employees, customers, and suppliers into their business plans and processes. In the process, they can gain and maintain their short-term and long-term competitive edge.
Businesses owned by minorities including women are among the fastest-growing sectors in the American economy. Disabled veteran-owned businesses are also becoming powerful forces in the economic landscape with corporate supplier diversity executives actively seeking them out.
But it is not just the minority-run businesses that corporations must tap into. The minority population in the United States has experienced growth in number and in purchasing power aside from its business development activities. The economic power and social clout that minorities exert on society have made it imperative for corporations to work with them to stay ahead.
The following topics will be discussed during the forum:
- State of the market and opportunities for diverse owned small businesses
- Opportunities for marketplace development and growth for diverse owned businesses
- Knowledge & resources gaps
- Corporate tools and resources
- Community tools and resources
- Challenge and kickoff of new initiatives
To reserve your slot, please visit the DIVERSITYNYC page today.
This event will highlight wonderful and exciting opportunities for women, minorities, verterans, the LGBT Community, and more.
Procurement involves selling goods and services to large corporations and government entities, this is a HUGE market for small business owners yet it’s often overlooked by many.
Lets do it, let’s go out and win those contracts.