The number of women-owned and WBE-certified businesses continues to increase each year. Partnering with a woman-owned business allows an organization to achieve better diversity, innovation, and collaboration. Additionally, businesses typically receive better returns on investment, the chance to acquire good PR, and the opportunity to earn tax incentives.
Better Diversity, Innovation and Collaboration
It is extremely important for companies to have a diverse pool of vendors. Women-owned companies can offer different points of view and think and process information differently. Considering the innovation and collaboration women bring to the table, companies can gain higher profits and benefit from the unique perspectives women offer.
Better Return on Investment
When partnering with WBE-certified businesses, companies have the potential to receive a higher return on their investment. According to research done by Hackett Group, by partnering with women owned or WBE- certified businesses, companies can increase their investment by approximately 130 percent. The reasons being, having a diverse team means you acquiring better innovation and collaboration. Recruiting diverse suppliers and contractors who are experts in their fields, compared to in-house staff means lowering your operating and labor cost.
Good PR
Having women be a part of your company provides your business with good PR and helps you build stronger connections with potential clients and customers, and, in the long run, opens the doors for future business opportunities. This also gives companies the upper hand and the advantage to be found when being searched by potential clients and customers. Additionally, women-owned businesses are typically smaller, which means business decisions are made rapidly, and clients’ and customers’ requests are answered within a timely manner.
Tax Incentives
The federal government, along with states and local governments, offers tax incentives to those who have a partnership with not only women-owned but also minority-owned businesses. Companies are given reduced tax liabilities for federal and state grants or loans any time the company uses a WBE-certified enterprise.
According to Open Secrets, the federal government is expected to award minority owned businesses a certain amount of contracts, in order to motivate those businesses to seek out governmental contracts and for organizations to grant those contracts. By doing so, small and underprivileged business owners can create jobs in their communities and ultimately boost the nation’s economy. For instance, also according to Open Secrets, the federal government awarded $25.4 billion in federal contracts to women-owned businesses in 2017.
HOBI is a woman-owned and WBE-certified ITAD company with more than 30 years of experience in the industry. HOBI prioritizes waste management by ensuring products are recycled properly at the final stage. Most companies already have cybersecurity measures in place for their operating assets but what about when those assets reach their end of life? It is extremely important to have those used electronics properly sanitized before they end up at the wrong place and in the wrong hands.
ITAD vendors like HOBI can refurbish and resell your equipment by giving it a new life, which minimizes the toll these toxic products take on the environment. By partnering with a company like HOBI and placing your disposable assets in the hands of trusted vendors, you are avoiding a great deal of fines and penalties. Besides being compliant with the rules and regulations set in place and avoiding punishments, companies are able to receive an extensive amount of benefits for being affiliated with a WBE-certified company.
For more information about our ITAD services call 817-814-2620, or contact HOBI at sales@hobi.com.