Without arguing the merits of one minority vs. another minority, simply realize this: Members of most minorities did not choose to be a minority. Our veterans chose to dedicate themselves, and risk their lives, so that we can live free in the United States. It is because of their choice that we owe them a leg up in their career endeavors with college incentives and business motivations that level the playing field for them.
However, business is business, and any CEO can tell you: Everything must be profit-oriented. Veteran owned businesses can add value to your supply chain in addition to offering vets an opportunity to succeed in the U.S. marketplace. Some of our country’s leading product and service retailers are gaining market share by using diverse supply chain providers. Here’s what they know and you should know, too.
Supply chain diversity is important because it . . .
- Allows your company to take advantage of business expansion opportunities in an ever-changing market.
- Displays your commitment to doing business – beyond consumerism – in diverse marketplaces.
- Drives competition between your company’s vendors that can result in better prices and service.
- Promotes innovation with new products/services, and solutions.
- Provides multiple channels for procurement.
- Showcases your company’s interest in and commitment to economic growth of all demographics.
One report showed that nearly 12,000 diverse businesses generated an economic impact of more than $400 billion in output and created more than 2.2 million jobs. The addition of veteran owned businesses and other minority small businesses to your supply chain is a winning initiative for your company and our economy.
6 Ways You Can Help
- Bid on government contracts.
- Connect with other veterans.
- Mentor other veterans as well as learn from your mentorship and guidance.
- Monitor compliance of contracting opportunities service-disabled and veteran-owned businesses.
- Receive additional education through webinars and certification training.
- Join our Corporate Advisory Board
Call 586-722-1557 or contact VOBRT today for more information about how you can join the ranks of companies that support veteran-owned businesses. Click here to schedule a meeting with our Business Development Executive.