Women's Business Enterprise National Council Releases Global Business Survey
ATLANTA, June 26 /PRNewswire/—Women’s businesses will need to source goods and services from outside U.S. borders if they want to grow corporate business and avoid losing it, says a top line finding of a Global Business Survey conducted by the Women’s Business Enterprise National Council (WBENC). Although 29 percent of the women’s business enterprises (WBEs) surveyed is already buying overseas, their corporate customers are way ahead of them with 100 percent going abroad and purchasing many of the goods and services that the WBEs are offering at home.
The Global Business Survey of 435 WBEs and 22 major corporations was released today at WBENC’s Women in Business 2008: Power of Progress, the largest conference and business fair of its kind. WBENC is the leading authority on and advocate for WBEs as suppliers to the nation’s top corporations. It is also the leading third-party certifier of businesses owned and operated by women, with WBENC certification accepted by more than 1,000 corporations and government entities.
“The study produces clear evidence that women’s businesses must think creatively about partnering or buying abroad to win corporate contracts,” said Linda Denny, President and CEO of WBENC. Six of the top ten categories of business that the corporations source abroad—IT Services, IT Consulting, Consulting, Manufacturing, Transportation and Staffing—are also in the top ten business categories of women’s businesses surveyed.
To foster global opportunities for U.S.-based WBEs and to promote links between WBEs around the globe, WBENC this morning announced a Memo of Understanding with Quantum Leaps, a nonprofit which is incubating WEConnect International, a corporate-led initiative promoting certification of WBEs based upon WBENC standards.
“The global business world is integrated into our lives, from outsourced accounting services to overseas call centers,” said Joan Kerr, Chair of the WBENC Global Committee and former WBENC Board Chair. “Women’s businesses will be competing against companies in other countries whether they know it or not. This survey underscores the need to think about establishing offices, acquiring subsidiaries or sourcing offshore.”
WBENC has advanced global leadership and skills at its annual conference and is hosting the third International Day to surface strategies for WBE growth abroad.
In addition to the MOU, another such strategy was the recent launch of WEConnect UK, an independent entity in the United Kingdom offering certification to women’s business enterprises. WEConnect UK follows many of the best practices established by WBENC, and is joined by corporate and WBE supporters who are prominent leaders in WBENC.
“Our goal will be to make certification reciprocal—with WBENC certification accepted in the U.K. and WEConnect UK certification accepted in the U.S.,” said Denny. “This alliance also provides a bridge for WBEs here to source goods and services from women’s businesses in the UK.”
Other key Global Business Survey findings:
—Canada is the number one overseas supply source for women’s businesses surveyed, followed by China, the United Kingdom, Mexico and Germany.
—India, which was 6th for women’s businesses, led the pack for corporations, with Canada number two, followed by the U.K., Mexico and China.
—Call Centers/Customer Support was the number one business category outsourced by corporations, perhaps explaining the focus on India.
“Canada was a surprisingly strong source for WBEs. While India is lower on the list for them, considering its dominance in corporate supply chains, they may want to explore opportunities there,” said Kerr.
“The survey produced some fascinating results. Why was India the top country for corporate global sourcing yet only sixth for WBEs? As we gain insights from the data, we are mindful that survey responses are probably changing with fluctuating currency exchange rates, rising fuel costs, and a dynamic global economy,” she added.
Currently WBEs are purchasing from Asia (40 percent); Europe (40 percent) and North and South America (20 percent).
About WBENC: The Women’s Business Enterprise National Council (WBENC) is the leading advocate for, and authority on, women’s business enterprises (WBEs) as suppliers and vendors to the nation’s corporations. Founded in 1997, WBENC is the also nation’s leading third-party certifier of businesses owned and operated by women, with WBENC certification accepted by more than 1,000 corporations, representing America’s most prestigious brands, as well as government entities at the state, local and Federal levels. WBENC brings together 244 major corporate members with its nearly 8,000 certified WBEs to enhance their mutual success at business building events and thought leadership forums throughout the year. Chief among them is the Women in Business 2008: The Power of Progress, the nation’s largest Conference and Business Fair of its kind, taking place this year in Atlanta, June 23-26. WBENC is a 501©(3) nonprofit organization that seeks and accepts donations from corporations, foundations and individuals that support its mission and programs. For more information, please go to www.wbenc.org.
SOURCE Women’s Business Enterprise National Council
