Why Being a WBE is Important

workplace-1245776_1920Established in 2002 and certified as a Women’s Business Enterprise (WBE), National Vending supports the growth of Minority and Women’s Business Enterprises (MWBE) within the communities we service. But what does it mean to be a WBE?

For National Vending, it means things like supporting entrepreneurial growth and assisting clients in meeting diversity requirements. Statistics show that companies who embrace diversity are more profitable than companies who don’t. MWBE procurement has a direct and positive impact where corporations do business, which builds brand loyalty.

Tier I and II

Companies with supplier diversity programs are also interested in Tier 1 and Tier II supplier classifications. A Tier I supplier has a direct relationship with its client. To qualify under Tier II, a company’s direct supplier, like National Vending, contracts with other MWBEs and reports that spend back to the company.

“The reason diversity works is that on almost every measure, greater racially, ethnically, and culturally diverse workplace teams function more effectively than more homogenous teams. Members from diverse backgrounds, experiences, and perspectives avoid “groupthink,” whereas non-diverse teams get mired in it. …In short, the business case for diversity is overwhelming.” [1]

Tax Incentives

The federal government provides tax breaks for companies that utilize minority and women-owned businesses as suppliers.  A second tax incentive reduces tax liability to companies that use minority and women-owned businesses that supply labor or services to a project funded with federal or state grants or loans. State tax incentives may be available as well. Find out more at https://goo.gl/zG8rNa.

Nationally Certified Women’s Business Enterprise

National Vending has become a Nationally Certified WBE through the Women’s Business Enterprise National Council! While National Vending has been a certified WBE at the state level for several years, this new certification gives us the legitimacy to provide services for companies that are concerned with supplier diversity all around the country. Find out more about National Vending’s National Certification in this article from Vending Market Watch!

Being certified by the WBENC validates that a business is 51 percent owned, controlled, managed and operated by a woman or women. The certification also gives women owned business like National Vending the ability to compete for real-time business opportunities provided by WBENC Corporate Members and government agencies. To find out more about certified WBEs and WBENC, check out their website!