Tweet Women-owned firms are growing faster than the national average, and much of that growth came from minority firms, according to a study commissioned by American Express Open. The 2013 State of Women-Owned Business Report examined the period between 1997 and 2013 and found some astonishing growth trends, as well as areas of weakness that need to be firmed up. We’ll highlight some of the top growth statistics and trends in this blog, and explore more of the report in detail over the next few weeks. One of the most notable stats is the growth of businesses started by women of color. In 1997, they accounted for just 17 percent of women-owned businesses. Today they make up a third. Other [...]
Read More »Tweet YouTube is great place to find practical business advice from top leaders and business owners. ConnXus has searched for quality video blogs that will help your business grow. You can find advice on meeting short-term challenges and planning “big-picture” strategy from individuals, organizations and publications that want to help small business owners. YouTube makes it easy for you look through these videos, and to subscribe to channels that create videos. If you haven’t already, create a YouTube profile, take a look at the YouTube video bloggers below and subscribe to the channels that speak to your business needs! 1. WBENC’s Official Channel — The Women’s Business Enterprise National Council (WBENC), is the largest third-party certifier of businesses owned, controlled, [...]
Read More »Tweet HispanicBusiness.com recently named its top 25 companies in supplier diversity. Top 25 Supplier Diversity Companies cross industries, and include large corporations that have shown a sustained commitment to supplier diversity. The rankings, among other things, are based on whether each company: Fosters supplier-development programs Has a full-time executives or managers devoted to Supplier Diversity Offers bonus to management tied to the company’s Supplier Diversity programs Percentage of total purchasing spend that goes to MBEs Among the Top 25 Companies are: Comerica Bank PG&E Corp. AT&T Sempra Energy Southern California Edison Consolidated Edison Inc. Ford Motor Co. Marriott International Inc. Verizon Communications Banks of America You can see the entire list at HispanicBusiness.com. The publication also spoke with top Supplier [...]
Read More »Tweet Some lenders’ purse strings are starting to loosen up. Wells Fargo, one of the largest banks in the U.S., recently announced plans to lend a total of $55 billion to women-owned businesses by 2020. It’s an update to lending commitments the lender first set in 1995, when it vowed to lend $1 billion to women-owned businesses over three years. Lisa Stevens, Wells Fargo lead executive for Small Business and West Coast Regional Banking president, made the announcement at Hispanas Organized for Political Equality (HOPE) 22nd Annual Latina History Day conference in Los Angeles earlier this month. “Women-owned businesses are among America’s fastest growing segments, and we are honored to support their role in shaping the future of small business. [...]
Read More »Tweet MASON, OH–(Marketwire – Feb 28, 2013) – The Ohio River Valley Women’s Business Council (ORV~WBC) has partnered with online supplier-diversity service ConnXus to provide its members with access to a wide-ranging set of corporate and government contracting opportunities worth millions of dollars. ORV~WBC is a nonprofit organization whose mission is to certify bona fide women-owned businesses and to promote the development, establishment, expansion and encouragement of businesses owned by women. ORV~WBC is a certifying partner organization in the Women’s Business Enterprise National Council (WBENC), founded in 1997, which is the largest third-party certifier of businesses owned, controlled, and operated by women in the United States. ConnXus is an online marketplace that helps companies optimize their spending on outside goods [...]
Read More »Tweet The SBA recently announced changes to its Women-Owned Small Business Federal Contract Program, providing more opportunities for women in federal contracting. With more than $400 billion in federal contracts available, the changes could provide a big boost to women-owned contractors. The new regulations are part of the new National Defense Authorization Act of 2013. A major revision to the program lifts caps on contract awards for for women-owned and economically disadvantaged women-owned small businesses. Previously, awards couldn’t exceed $6.5 million for manufacturing contract and $4 million for others. New regulations also require the SBA to study and report industries where women are underrepresented. As a result, more eligible women-owned businesses may be able to participate in SBA’s Women’s Federal [...]
Read More »Tweet A new survey released Feb. 11 by Web.com and the National Association of Women Business Owners (NAWBO) shows that 38% of women-owned firms plan to invest more in hiring in 2013 than in past years. Another 54 percent will invest the same as in 2012. The State of Women-Owned Businesses survey also found women business owners were highly optimistic about their own business performance (81 percent), as well as the overall economy (74 percent) this year. Other results from the survey include: The top four challenges for women business owners are: the state of the economy (57 percent), health insurance cost and affordability (40%), business taxes (36%), and workforce quality (36%). 71% believe the Patient Protection and Affordable Care [...]
Read More »Tweet The best thing about the web is also one of the worst: it contains an onslaught of information. If you’re a diverse supplier and your business is in the startup phase or more established, you’ve probably turned to the web for tips and ideas for growing your business. There are thousands of blogs out there that lend advice, but we’re sure you’ve found that some are better than others. The best blogs and new sites address specific, real-world challenges and provide creative, tried and detailed options for meeting those challenges. Today, we’re listing some of our favorite blogs and news sites for diverse suppliers. We at ConnXus.com think these sites are among the most useful and are worth a [...]
Read More »Tweet Supplier Diversity is an emerging way for large corporations to save money, spur innovation and competition and grow the economy. Supplier Diversity Managers take on a variation of tasks, depending on their company’s goals. At their core, Suppler Diversity Managers oversee programs that support the diverse businesses that supply a large company. As the phrase implies, Diverse Suppliers are many, and can include: Minority and women-owned businesses Veteran owned-businesses LGBT-owned businesses and more We’ve interviewed several Supplier Diversity Managers, who’ve shared insights about what they do, and how small businesses can join their supplier diversity programs. Pamela Coleman, Senior Director, Supplier Diversity and Sustainability for Cintas Corporation in Cincinnati, spoke about her work for America’s largest uniform supplier. Among [...]
Read More »Tweet Real life experience IS the best teacher in running and growing a small business. But you don’t always have to learn from your own experience, or mistakes. There are no guarantees in entrepreneurship, but there are certain things that will up your chances of making that first million as a diverse supplier. Some top small business tips hold true across industries, and can make a real difference in how quickly your business grows. Entrepreneur Magazine has a great video series called Project Grow, which features dozens of short interviews with very successful entrepreneurs who know, first-hand, how to grow a successful business. Topics include motivation, making your first million, creative financing, dealing with isolation, marketing on a budget, how [...]
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The ConnXion Point is the blog for connXus.com, an online service connecting small, minority- and woman-owned businesses with companies seeking to hire diverse suppliers.
I'm Rod Robinson, founder and chief connector of connXus.com. I've spent 15 years in the procurement business as a minority business owner, company procurement officer and industry consultant.
The ConnXion Point will focus on issues, events and news about procurement and supplier diversity. So, whether you're purchasing or selling, we'll have information you can use. We also hope to facilitate a healthy, respectful exchange of viewpoints on issues surrounding supplier diversity and procurement.
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