Top Benefits to Working with a WBE Certified Business
The Women’s Business Enterprise National Council (WBENC) certification is the most widely recognized and respected national certification for women-owned businesses in the United States. OpenArc is proud to be a certified Women’s Business Enterprise (WBE) and Woman-Owned Small Business (WOSB) through the WBENC, actively helping other WBENC-affiliated companies realize their vision by placing the right people for the job and creating great software.
The WBENC certification is nationally recognized by federal, state, and local US government entities in addition to major corporations. This certification helps companies like OpenArc achieve supplier diversity business status, giving them a unique opportunity to pass these benefits along to clients.
Beyond that, partnering with a certified Women’s Business Enterprise and Woman-Owned Small Business offers benefits from tax incentives to diversified revenue opportunities. When choosing your next vendor partner, consider these top benefits of working with a certified WBE and WOSB.
- Tax Incentives
- Working with a WBENC-certified company can open the door to tax incentives for your business. The federal government provides tax incentives to companies that conduct business with women- and minority-owned businesses. Tax liabilities are also reduced for projects that are funded with government grants or loans if the supplier is a women-owned business.
- Faster Turnaround Times
- Often, diverse, women-owned companies are SMBs. Being a small business, it’s much easier for OpenArc to pivot and adapt quickly, which enables us to move faster and provide quicker turnaround times than our competitors. That means we can respond quickly and meet our clients’ needs with ease.
- New Revenue Opportunities
- Research from the Hackett Group states that working with a WBENC-certified business can increase profitability and create new revenue opportunities to the tune of a 130% return on investment. Working with a diverse supplier base also contributes to lower operating costs overall and decreased buying operations expenses.
- Varied Procurement Channels for Goods & Services
- Partnering with a WBENC-certified business like OpenArc gives you access to new channels to obtain goods and services, allowing more variety and enabling you to choose the best-fit option for your company. More WBENC-certified partnerships also mean more relationship-building opportunities—including supplier alliances.