Let’s cut right to the chase: The United States is the global leader in supplier diversity. 

Before we deep-dive into this topic, here are a few questions you need to ask yourself with respect to your company’s supplier diversity initiatives: 

There are new requirements coming to the Federal Procurement Program for Women-Owned Small Business (WOSB). The WOSB program recognizes Women-Owned Small Business and Economically Disadvantaged Women-Owned Small Business (EDWOSB) companies. It is administered by the SBA and the guidelines are incorporated in the Federal Acquisition Regulations (FAR). Starting in October 2020, the SBA will require valid certification to be recognized in the program and be eligible for set aside or sole source contracts (Tier 1).

Since May is the month that we honor mothers and women in general, we want to take a moment to also recognize the tremendous benefits that women bring to the U.S. economy and small business world. The recipe to be a successful entrepreneur and a mom are much the same.  They both require black belt status in:  tenacity, decisiveness, encouragement, perseverance, financial management, strategic planning, and of course PATIENCE.