“A woman with a voice is, by definition, a strong woman.”
― Melinda Gates
It is women’s history month – a time for us to pause and recognize the contributions of our nation’s women and girls to the growth, development, and financial well-being of our society. The NYNJ MSDC (The Council) understands and appreciates the contributions made by women and girls to the success of our economy. We hear women’s unique voices and endeavor to heed them as we advance diversity and inclusion in supply chain management throughout corporate America.
Women represent more than 50 percent of the U.S. population and account for a significant share of business growth in our country. According to American Express’ 2019 State of Women-Owned Businesses Report, between 2014 and 2019, the number of women-owned businesses climbed 21 percent to a total of nearly 13 million (12,943,400). Employment grew by 8 percent to 9.4 million. Revenue rose 21 percent to $1.9 trillion. While the number of women-owned businesses grew 21 percent from 2014 to 2019, firms owned by women of color grew at double that rate (43%). Numbers for African-American/Black women grew even faster at 50 percent. Native Hawaiian/Pacific Islander (41%), Latina/Hispanic (40%), Asian American (37%), and Native American/Alaska Native (26%) businesses grew more slowly than for women of color in general but faster than overall women-owned companies and all businesses.
Unfortunately, while the number of minority-women business enterprises (MWBEs) outpace overall non-minority, women business enterprises (WBEs), the average revenue of MWBEs keeps declining. In 2019, the average annual revenue for a MWBE dropped 3% from $67,800 in 2018 to $65,800, as compared to the average annual revenue for a non-minority WBEs, which jumped 10% from $198,500 in 2018 to $218,800 in 2019.
The Council works to bridge these gaps. As we embark on a new decade, we do so with clear communication and close collaboration between MBEs, our corporate members and resource partners. Expect 2020 to bring more innovative educational, matchmaking, and networking programs. We encourage all MWBEs to leverage our business development resources and strive to reach their full potential and beyond. Work with our technical assistance team to pinpoint the best ways to improve operational efficiencies, streamline management processes, and ensure your businesses are procurement-ready.
Women and girls are integral to the foundation of this nation’s existence and ongoing excellence. The Council thanks you for your contributions. When one MWBE business succeeds, we all succeed.
CERTIFIED WOMEN OWNED BUSINESSES
In honor of Women’s History Month, the NYNJ MSDC presents a listing of Council-certified, women-owned businesses.