1) Tax Incentives
Working with a woman owned small business can provide your organization many tax benefits. The federal government affords tax incentives to those who conduct business with minority and women-owned businesses. Additionally, tax liabilities are reduced for projects funded with federal or state grants or loan when the supplier is a women-owned business. In some states, tax incentives may be available.
2) Lower Operating Cost
Procurement organizations who work with a diverse supplier base have a lower overall operating costs and spent 20% less on their buying operations.
3) Diversifies Your Suppliers to Provide Multiple Procurement Channels for Goods and Services
Enables you to choose what options are the best fit for your organization’s needs. Increasing your partnerships with WOSBs gives you the added benefit of building relationships with diverse alliances.
4) Promotes Innovation and Creativity
Smaller companies typically bring innovation to the table in order to stand out among their competitors. As a smaller management consulting company, we have the advantage of agility, making course corrections, with faster turn-around time if required, and implementing innovative strategies to meet the needs of our clients.
5) Shows Your Organization’s Interest in Working in Diverse Markets
WOSBs are among the fastest growing sector of our economy. By working with a women-owned business you show your company’s commitment to working in diverse markets and furthering economic growth in local communities.
Partnering with KVN Partners can help your organization meet its diversity sourcing requirements. Connect with us. We’d love the opportunity to earn your business and share how we’ve helped other organizations achieve their supplier diversity goals.