Diversity is the cornerstone of innovation, and working with female-owned businesses is one way to support a creative, thriving economy. Partnering with women-led companies, particularly those with a WBENC Certification, also offers numerous financial advantages ranging from gaining access to a larger network and exclusive contracts to increased competitiveness and customer loyalty.
What Is WBENC Certification?
The Women’s Business Enterprise National Council (WBENC) is a national organization whose primary focus is advocating for and empowering woman-owned businesses. One of the ways it does this is through the WBENC Certification program. A business only qualifies for this certification if at least 51% of it is owned, operated, controlled and managed by one or more women. At least one woman must:
- Have completely unrestricted control of the business.
- Exhibit management of daily operations.
- Possess a proportionate amount of invested capital or expertise.
- Have the highest defined title in all legal correspondence.
Applicants must also submit various documentation and pass a site visit as part of WBENC’s comprehensive vetting process. As the leading certifying body for woman-owned businesses in the United States, a WBENC certification is highly recognized across thousands of corporations, cities and entities. Certified businesses gain access to countless tools and resources designed to promote innovation and advocacy, positioning them to offer better goods and services.
Advantages of Working With Women-Owned Businesses
Here are just a few reasons you should prioritize working with certified women-owned businesses:
1. It Expands Your Network and Drives Innovation
One benefit of WBENC is that its certified entities make up a large network of different channels and suppliers that you gain access to when partnering with a certified business. This also opens you up to diverse perspectives. We already know that companies with more women in the boardroom have higher annual returns than those that don’t — working with a WBENC-certified business lets you learn from and share with powerful entrepreneurs.
Considering that women-owned businesses make up more than 39% of the U.S. market and have a growing aggregate revenue of $2.7 trillion annually, you can’t afford to miss out.
2. Your Customers Want It
Entering a business relationship with a women-led company isn’t just beneficial — it’s critical if you want to keep and grow your customer base.
Three-quarters of consumers list a company’s diversity, equity and inclusion efforts as an influencing factor when making a purchase. Seventy percent of Generation Z, the largest and most culturally diverse generation yet and the age group with the highest projected spending growth, believe businesses with large audiences are responsible for promoting inclusion and diversity. This is true for older generations as well, with 64% of baby boomers reporting similar thoughts.
When you work with a woman-owned business, you can highlight that partnership to demonstrate your company’s dedication to empowering diversity. Eighty-nine percent of consumers prefer businesses that align with their values and are more likely to become loyal, return shoppers — and loyal customers are the backbone of a successful and sustainable business.
3. You May Qualify for Financial Incentives
Recognizing the vital role diversity plays in a thriving marketplace, some states and municipalities offer grants and tax benefits for working with female-owned businesses. Contact your local business administration and tax professional to see what you may qualify for.
Additionally, women control more than $31 trillion in spending globally and are the leading driving force behind all consumer spending by far — partnering with a woman-owned business is the best way to understand the market’s key players and design products and services that women want and need.
4. It Keeps You on the Cutting-Edge
The U.S. government awards at least 5% of each year’s federal contracting dollars to woman-owned small businesses. Many municipalities have similar programs — for example, the City of New York’s Minority and Women-Owned Business Enterprises program helps entrepreneurs access government contracts that fuel growth.
Doing business with a woman-owned company could help you access these contracts, giving you an edge over your competitors who don’t partner with WBENC certificate holders. The more diversified your professional network, the better your economic resilience will be. Exposure to new ideas and leadership styles can inspire the creativity you need to set yourself apart in an increasingly competitive market.
5. It’s Good for the Economy and Your Local Community
Supporting a diverse range of small businesses, particularly those owned by women and members of minority groups, strengthens economic resilience and contributes to a stronger, more robust supply chain. This is especially important in the face of growing economic uncertainty worldwide.
Small businesses play active and integral parts of their communities by using local suppliers, creating jobs and providing goods and services tailored to the local market’s needs. Each time you choose to partner with a woman-owned small business, you contribute to a more circular, sustainable and self-sufficient economy. Communities with stable economies are better positioned to continue supporting your own business.
6. It Supports Social Responsibility Efforts
Supporting diverse entrepreneurship is more than a tool for fostering positive corporate social responsibility (CSR) — it’s the right thing to do.
In its 2030 Agenda for Sustainable Development, the United Nations outlines a series of goals we must strive for to create a more sustainable workforce. Promoting women’s empowerment and inclusive economic growth are core tenets of those goals. While these directives provide a helpful framework, too many businesses participate in “bluewashing” and do little more than claim commitment to those principles. Partnerships with women-led companies are a tangible way to act on those values.
If your business is working toward alignment with ISO 26000:2010 — a set of noncertified standards designed to promote social responsibility — working with a woman-led company is also a great way to enact those guidelines.
Drive Growth and Innovation With B2B Deliveries From ExpressIt
As one of the few women-owned logistics companies in the United States, ExpressIt Delivery is proud to be WBENC-certified. We built our company on a passion for breaking the mold — no two business transactions are ever alike, so why settle for a one-size-fits-all courier service? When you choose us for your business’s B2B deliveries and warehousing services, you’ll benefit from a partnership built on transparency, communication and customized solutions that fit your fluctuating needs through:
- Preplanned routes and on-demand service
- Same-day delivery options
- Last mile solutions
- Specialized delivery services for shipments that require extra care and accommodation
- An expansive fleet of more than 100 vehicles
- A team of trained, uniformed professionals with experience across dozens of industries
Explore our complete range of services or contact a member of our experienced team to request a quote today.
