When you choose to work with a woman-owned small business, you are making a conscious decision to support the advancement of women in the workplace. While women-owned small businesses are on the rise, they still represent only 20% of all organizations that employ people in the United States. At Applied Development, we strongly believe that working with an economically disadvantaged women-owned small business creates opportunities that you can’t find within other organizations. Keep reading to learn why it’s advantageous for businesses to support disadvantaged women-owned small businesses.
We all want to save money come tax time. Did you know that working with a woman-owned or economically-disadvantaged company can help you qualify for tax breaks? Many states are willing to offer tax breaks or incentives to organizations that work with women-owned or economically disadvantaged businesses, or both. While tax incentives vary from state to state, there are incentives available on a federal level that you should consult a tax professional about.
New Customers or Audiences
Partnering with economically disadvantaged or women-owned businesses has been proven to be good for business. Not only is it advantageous to bring in a diverse group of suppliers, but you can also reach new audiences and customers through a diverse supplier network.
Support Local Economic Growth
When you work with a women-owned small business or an economically disadvantaged business, you are supporting economic growth on a local level. Hiring vendors or suppliers who are diverse or disadvantaged is an investment in the economy on a local level.
Working with a disadvantaged business shows that you are willing to take a chance on something you believe in. That message sets an example for your employees and your customers that you are the kind of organization that welcomes innovation. Innovation drives change and can make a difference within the community you serve. It’s what sets a mediocre company apart from an exceptional one.
Express Your Organization’s Values
Working with an economically disadvantaged women-owned business highlights your organization’s values. Your decision communicates to the public, your customers, and your employees that you value the diversity women bring to the workplace. Your initiative to be more inclusive within your business can help spark innovation and inspire a diverse clientele base to work with your organization.
Work with Applied Development
Applied Development is a women-owned small business. Co-founder and CEO Kimberly Citizen has dedicated most of her career to serving the federal government. She founded Applied Development to champion the rights of people of all abilities to work and communicate effectively through sign language interpretation, reader services, advocacy, and outreach.
If working with an economically disadvantaged women-owned small business is a priority for your organization, then Applied Development is here to help. We will work with you and your organization to help connect you with more women-owned or economically disadvantaged businesses. Give us a call today at 410.571.4016 or reach out online for more information.