“Part Two: How Can Your Organization Benefit from Using an MWBE?”
Part 2 of Three-Part “MWBE” Blog Series
In Part I, we discussed the definition of an MWBE and the certification process involved. As an MWBE, M3 has seen firsthand the added value for clients who utilize our staffing services to meet government mandated requirements. In Part II, we will examine how your organization could benefit from working with an MWBE certified business.
Federal, state, and local governments have increased their focus on supporting minority and women owned businesses. Government agencies encourage businesses that have taken the time to acquire the MWBE certification, and provide a number of incentives to organizations that choose to work with MWBE companies.
Organizations that are interested in receiving government funding are typically required to utilize the services of an MWBE. Once an organization has received federal, state, or local funding, they may need to retain certified MWBE vendors for supplies and services. Beginning in January 2015, in an effort to increase utilization of MWBEs, Governor Cuomo increased New York State MWBE contracting participation to 30%. Businesses that take advantage of the opportunity to work with MWBEs have an increased likelihood of acquiring future government funding.
Government mandated requirements are not the only reason why an organization might choose to work with an MWBE. Government agencies provide a number of tax incentives to companies that source MWBEs for service and vendor needs.
The benefits of working with an MWBE certified business are constantly growing, as government agencies work to encourage opportunities for minority and women owned businesses. M3 is proud of our MWBE certification, and our next post will explain how we can provide optimal solutions for your organization’s unique needs. Stay tuned for the final installment, “Part Three: Why Use M3 for Your MWBE Needs,” of our three-part MWBE series.