In the competitive business landscape, certifications can make an enterprise stand out among competitors, and there’s one certification in particular that provides supplier diversity, Fortune 500 procurement benefits, tax incentives, and creates a unique ITAD partnership. The Women’s Business Enterprise National Council (WBENC) is a national non-profit organization committed to helping women-owned businesses thrive. ITAD is growing, and the playing field is becoming increasingly more competitive as the industry evolves. This article serves as a practical guide to WBENC, covering what it is and how a WBE certification, combined with technical certifications, opens procurement doors and creates a unique ITAD partnership.
What is a WBENC Certification?
Founded in 1997, WBENC developed a nationwide standard for women-owned business certification and has since grown to become a leading authority on advancing economic opportunities, providing resources and tools to help women-owned, small, and medium-sized businesses thrive. A WBE certification identifies and validates that a business is at least 51 percent owned, controlled, operated, and managed by a woman or women, and is a world-class certification standard accepted by thousands of corporations.
To receive a WBE certification, applicants must verify that they are at least 51 percent woman-owned, compile required documentation, including general business, owner eligibility, financial, personnel, and governance information, and complete the application form.
Holding a WBE certification comes with numerous benefits, including access to supplier diversity and procurement executives, opportunities to pursue business with other WBENC-certified WBEs, access to networking events, programs, and other business tools, and eligibility for regional and national awards and recognition.
Leverage a WBENC Certification for Supplier Diversity Compliance
A major focus in the business world is diversity, and partnering with a WBE-certified vendor supports supplier diversity compliance and offers a chance to support a woman-owned business. Major corporations and government entities have established supplier diversity programs that mandate a certain percentage of spend with diverse suppliers, such as WBE-certified enterprises. Corporations such as Apple, Google, and Amazon are actively diversifying their supply chains to meet these industry standards and achieve ESG goals. A diverse partnership opens the door to formal and informal opportunities with other WBE-certified businesses, corporate, and government members, and to attending exclusive events such as WBENC.
Fortune 500 Procurement Benefits
Supplier diversity also provides procurement opportunities. Many companies are pursuing Social ESG initiatives, and one way to do so is to work with diverse suppliers. A WBE certification helps identify businesses as women-owned and enhances competitive advantages by increasing visibility and networking opportunities for those seeking diverse suppliers.
WBE-certified businesses are provided access to current lists of supplier diversity and procurement contacts for WBENC Corporate and Government members who join WBENC specifically to support women-owned businesses. This provides businesses with exclusive bidding opportunities and access to federal and state set-aside contracts, specialized training, mentorship programs, and executive education, and expands the possibility for large-scale growth of companies seeking like-minded partnerships.
Using a minority-owned business as a service supplier also creates new opportunities for revenue growth and opens the door to many federal and state tax incentives.
Tax/Regulatory Incentives
Business isn’t the only benefit to a WBE certification. The U.S. Federal Government has a goal of awarding at least 5 percent of all federal contracting dollars to Women-Owned Small Businesses (WOSBs) annually, and certain NAIC codes are set aside for these companies, thereby restricting competition to certified businesses. Additionally, some non-diverse prime contractors require certified WBE subcontractors to meet regulatory, legal, or contractual requirements.
Tax breaks are often provided to enterprises that use women-owned businesses as suppliers. The federal government also offers a second tax incentive that may reduce certain liabilities for companies that use diverse suppliers providing services to a state- or federal-grant-funded project. Certain states also offer tax incentives to businesses that contract with women-owned suppliers of goods and services.
ESG Benefits of a WBE Certification
Having a diverse workforce is an important factor to consider when partnering with other businesses as part of social ESG criteria. Social ESG focuses on how a company manages relationships with its employees, suppliers, customers, and communities, and addresses social impacts such as diversity, labor standards, workplace health and safety, community engagement, and more.
In the ITAD space, social criteria play a significant role in business development as other enterprises seek diverse suppliers. For women-owned businesses, a WBE certification is beneficial for revenue growth, tax incentives, and collaboration with other WBE-certified companies. As industry requirements continue to evolve, partnering with a WBE-certified ITAD vendor adds diversity to business practices and helps achieve ESG goals.
Choose a WBE Certified Provider for a Unique ITAD Partnership
As a proud WBE-certified ITAD enterprise, HOBI provides a range of beneficial services beyond its core ITAD offerings. Our WBE certification expands our access to supplier diversity programs, provides transparency and credibility as a validated woman-owned business, exclusive networking and support, and federal tax and regulatory incentives. This provides a competitive advantage by positioning HOBI as a highly sought-after entity, increasing visibility among those looking to diversify their supplier base, and enabling access to exclusive databases, programs, and opportunities.
HOBI co-founder and CEO Cathy Hill is a founding member of the company’s board and has overseen its growth since its inception. In addition to our WBE certification, HOBI is R2v3, RIOS, ISO 14001, and NAID certified, making us uniquely qualified to handle a wide range of end-of-use services, including certified data erasure and data center solutions. With more than 30 years of industry experience and service offerings ranging from data security and asset remarketing to reverse logistics, HOBI is a one-stop solution for all ITAD needs and the perfect partner to help your enterprise meet supplier diversity standards.
Contact HOBI today at 877-814-2620 or sales@hobi.com to submit an RFP.