Certifications and Other Tactics to Help Small Firms Leverage, Differentiate, and Win!

Abstract

Small businesses, especially minority-owned small businesses, are well placed to lead the United States in economic growth in the coming years. The combination of a growing minority population and the number of government-sponsored small business assistance programs makes this a great time to be a minority-owned small business. In fact, companies can do quite well for themselves if they are poised to take advantage of the increased spending power of minority communities and the prevalence of supplier diversity programs.

As of 2007, there were around six million minority-owned firms in the United States. The truth is that the minority population is large, both in terms of size and business influence. Supplier diversity programs and the accompanying government programs designed to assist disadvantaged businesses represent a strategic business opportunity for minority-owned businesses. Getting certified in one or more of these programs is the first step, but following through by delivering great value is what keeps your business in the game in the long term.