WHERE ARE SMALL AND MINORITY-OWNED BUSINESSES THRIVING IN GEORGIA?
The best source of funding for small business owners is their customers. Across the State, entrepreneurs are finding creative ways to get in front of buyers for their products and services. Including, adding Fortune 500 firms to their customer list.
SPENDING WITH DIVERSE COMPANIES IS ON THE RISE
The world's largest corporations have been increasing their spending with diverse companies. According to JP Morgan, diverse supplier spending with the Billion Dollar Roundtable grew more than 150% over the past decade. The focus on partnering with diverse and small businesses opens up opportunities globally but often starts locally.
"Diverse companies tend to hire in the local communities where they operate. Their success creates wealth in communities and helps support the overall economy, which is a good thing for everyone," says Jill Davis, Vice President and Marketing Manager, Global Supplier Diversity at JPMorgan Chase.
In Georgia, we are home to nineteen Fortune 500 companies. For diverse companies, this means many opportunities to partner for various products and services. Most of these companies have programs and processes in place to assist small businesses who are seeking to partner with their organization.
Vickie Irwin, General Manager of Supplier Sustainability & Equity at Southern Company, collaborates with corporate leaders, business unit purchasing influencers, diverse business advocacy organizations, and entrepreneurs to build relationships that support the development and growth of small and diverse businesses. Vickie shared what a typical process may look like for a diverse firm that wants to partner with Southern Company.
She also shared with us the importance for small businesses to obtain certifications and build relationships with the firms where their business can provide viable solutions.
When a company is ready to partner, supplier-diversity programs offer support by getting the small business on-boarded correctly and supporting them through the procurement process.
Is your startup ready to grow? Browse statewide resources focused on minority-owned and small business success.
- Network and build relationships
- Learn new skills or find a mentor
- Find funders that understand diverse and small firms
- Keep an eye on our News and Events page for upcoming events and opportunities