GBEF, NMSDC partner to empower historically underserved entrepreneurs, business owners and business leaders
Black Economic Forum (GBEF) and the National
Minority Supplier Development Council (NMSDC) announced a
partnership to support entrepreneurs, business owners, and business leaders
with increased access to opportunities, information, networks, capital,
training, and technical assistance.
This partnership will work
alongside GBEF’s Academy for Advancing Excellence to
engage entrepreneurs and business leaders committed to taking action that
drives equity and equality. Key priorities of this collaboration will be
amplifying resources available to minority women-owned business enterprises
(MWBEs) and breaking down barriers within corporate supplier diversity spaces
and supplier and business diversity programs.
women entrepreneurs and business leaders face barriers to success due to their
identity, particularly in an increasingly volatile political environment,” said
Alphonso David, president and CEO of the Global Black Economic Forum. “The
Global Black Economic Forum is committed to developing partnerships that will
drive support to minority women-owned business enterprises and we are thrilled
to work alongside an institution like NMSDC.”
MWBEs are one of
the most critical contributors to the nation’s economy yet, minority-owned
businesses are much less likely than their majority counterparts to get
contracts consistent with their availability and expertise and loans to support
and grow their businesses. This dynamic creates the need for strategic
partnerships to provide additional resources to bring equality and equity to this
partnership is important because the Global Black Economic Forum and by
extension the Academy for Advancing Excellence are committed to empowering
entrepreneurs across the globe. Working with organizations like NMSDC and
aligning these resources with leaders means that we can take a big step toward
equality and equity,” said Aaliyah Haqq, chief operating officer for the
Academy for Advancing Excellence.
“While NMSDC has
made progress towards our goal of increasing annual revenue for NMSDC-certified
MWBEs to $1 trillion, we know that we still have a long way to go. Especially
for our MWBEs from the Black community, who, while making up 45% of total
certified MWBEs, only account for 13% of our overall revenue. Together with
other catalysts for change like GBEF, I truly believe we can address this
disparity and build long-lasting generational wealth for not only Black women
but all the minority communities we serve,” said Ying McGuire, NMSDC CEO and
the partnership include:
Resources and support for MWBEs focused on growth and navigating
corporate supplier diversity pillars.
Working with corporations to break down the barriers in corporate
supplier and business diversity programs through education and training.
Advocating for processes and policies that support sustainable growth for
Innovative leadership development programming that will guide MWBEs on
how to obtain sponsorship and advocacy from their clients.
Delivering practical programs that expand MWBEs’ understanding of how to
access capital to scale a business.
Featured case studies and research to illuminate best practices from
entrepreneurs who have achieved a breakthrough.
of GBEF and NMSDC will kick off the new partnership with a signing ceremony on
August 23 at JPMorgan Chase’s regional headquarters (875 15th St NW Floor 10)
in Washington D.C. at 4:30 pm EDT.