Workplace culture espouses the importance of employee diversity. The same lesson can be applied to supplier diversity. Minority businesses are defined as those operated by African-Americans, Alaskan Natives, American Indians, Asian-Americans, Hispanics or women. Minorities operate more than 8 million businesses in the U.S., and they are the fastest-growing group in the U.S. Demographics. Partnering with a diverse supplier base helps your company reflect and meet the needs of your increasingly diverse clients.
Here are FIVE reasons to establish a diverse supplier base: