Women-owned business operations are on the rise, especially in the technology sector. Since 1997, the number of women-owned businesses has increased by approximately 60%, and they account for more than 8 million companies in the US alone.
Working with women-led certified companies has many benefits. Many enterprise-level corporations like T-Mobile, Amazon, Facebook, and Starbucks prioritize partnerships with women-owned businesses.
TMC is one such company with a different organizational culture that focuses on hiring more women in leadership positions. It also strives to promote women-in-tech careers through workshops and scholarships to inspire young women, especially from minority groups, to take that route.
What is a Certified Women-Owned Business?
While the first impression of a women-owned business is a business owned and managed by a woman, the definition is wide. Many ways exist to become a certified women-owned business.
There are also various ways to earn such a certification, but the largest certificate for women-owned companies in the US comes from The Women’s Business Enterprise National Council (WBENC). More than 1,000 corporations accept the certification.
For a business to qualify for WBENC certification, it must have at least 51% ownership, control, and management by a woman or a group of women. One or more women must have limitless control of the operations and be fully engaged in the daily operations. They also must demonstrate a proportionate investment in expertise or capital.
Reasons to Partner with a Women-Owned Business
Partnering with certified women-owned businesses, especially in technology, provides the following benefits:
Communication and Collaboration
Evidence suggests that women in leadership positions are better at communicating, forging professional relationships, and collaborating. While this shouldn’t make people form preconceptions about male or female employees, it’s an excellent indicator that women in several leadership positions can ultimately facilitate a communicative and healthy company culture.
Research shows that companies founded on female leadership perform better financially. If your concern is the bottom line, having female founders or board members is a viable solution. WBENC-certified businesses also have the advantage of accessing supplier diversity and procurement executives. That’s possible with multiple US corporations and local, state, and federal government entities that accept the certification.
Female business leaders have a higher probability of hiring employees from diverse backgrounds. With that kind of diversity comes unique and varied perspectives, inclusivity, innovation, and leadership. Diversity promotes creativity.
Another reason to partner with women-owned businesses is to enjoy tax benefits. The federal government is keen on offering tax incentives to those that partner with minority and women-owned companies. Women-owned companies are also as successful as men-owned entities in job creation, revenue growth, and sustainability.
Higher Retention Rates
Companies that hire female employees from under-represented groups portray a sense of security and contentment to outsiders, especially if they have a diverse and varied management team. Such businesses attract a wider range of job seekers and are likely to retain existing employees, achieving greater efficiency and company growth.
Partnering with a Women-Owned Business for Technology Solutions
The corporate world is daunting, with endless decisions to uphold relationships with stakeholders and bring in money through the door. When looking for a partner or vendor for technology solutions, it helps to consider partnering with a women-owned business.
Technology Management Concepts (TMC) is a women-owned company that enables organizations to rethink their business processes and technology. They allow their employees to achieve more while enhancing the customer experience in an ever-changing global economy.
Given TMC’s corporate culture, it made it to the Inc. 2022 Best Workplaces List and the Inc. 5000 (in 2016 & 2017) list of the fastest-growing private companies in America.
If you’re looking for business applications or infrastructure based on Microsoft’s Dynamic platform, look no further than TMC. Contact us today to schedule a consultation on this and more intuitive business solutions.