Part One: “What is an MWBE”
Post 1 in “MWBE” Series
In today’s marketplace, organizations have a wide variety of options in selecting services and vendors for their particular needs. Businesses can use this diverse market to their advantage, and can start to source services in smarter and more strategic ways. There are a number of reasons why using an MWBE supplier and service provider is a prudent choice for your business.
As a certified MWBE, M3 Placement & Partnership knows the benefits of working with an MWBE firsthand. In a three-part blog series, we have taken the time to explain how choosing an MWBE for your supplier and service provider needs can be beneficial for your organization. Before one can understand the benefits of working with an MWBE, let’s take a minute to review what exactly an MWBE is.
MWBE stands for “Minority and Women-Owned Business Enterprise.” Federal, state, and local governments have made strides to create more opportunities for minority and women owned businesses. These efforts have resulted in a number of programs, including those which provide support to businesses run by minorities and women. Businesses that are at least 51% owned, operated and controlled by women or minorities are eligible to go through a certification process that enables them to become a certified MWBE. Working with an MWBE can be a great choice for a business looking to diversify, obtain government funding, or fulfill government requirements.
Stay-tuned for “Part Two: How Can Your Business Benefit from Working with an MWBE” of our three-part MWBE series!