Partnering with a Women-owned Business – Two Great Benefits
Originally published on April 23, 2020. Updated on March 21, 2025.
Meetings & Incentives Worldwide (M&IW) is honored to be a trusted certified Women’s Business Enterprise (WBE) by the WBDC-Chicago, a regional certifying partner of the Women’s Business Enterprise National Council (WBENC) for more than ten years. Owned and led by sisters Tina Madden, CEO, and Jean Johnson, Chief People Officer, M&IW is committed to a diverse work environment that backs its words with accountable actions.
“We first received our WBE certification in 2013, and the value of this certification continues to prove itself not only for M&IW but also for our current and future customers committed to supplier diversity programs,” said Jean.
Supplier diversity programs encourage partnering with organizations that are at least 51% owned or operated by a traditionally underrepresented or underserved group, including women. The 2024 State of Supplier Diversity Report showed that investments in and executive support of such programs continue to grow. 56% of supplier diversity leaders report to the CEO or board of executives, which is twice as many as in 2021. In addition, nearly half of leaders use their supplier diversity program to win new business, and more than a quarter plan to implement their program globally by 2026. Learn more about implementing and assessing a supplier diversity program here.
Top Two Benefits of a Supplier Diversity Program
While there are many benefits of working with women-owned businesses and other diverse suppliers, there are three that stand out as being the most impactful to a business’ bottom line.
1. Increased Procurement Channels
Diverse suppliers have deep relationships with other vendors that may provide additional savings across your business. The strength of these relationships and their commitment to quality and innovation often leads to a tangible increase in savings and resources for obtaining goods and services.
2. Greater Revenue and Economic Impact
Supplier diversity programs offer an impactful and marketable way to differentiate yourself from your competitors to shareholders, employees, and consumers, which may increase business opportunities. Diversity-leading organizations know they need leaders who both understand and reflect the needs of their customers. Women-owned businesses are also one of the fastest growing sectors of our economy. Showcasing your company’s commitment to doing business in diverse markets increases economic growth in many communities.
The Importance of Supplier Diversity
We live in a deeply connected and global world. It should come as no surprise that more diverse companies are achieving better performance. Additionally, as a certified WBE, we are dedicated to a supplier diversity strategy that seeks out and utilizes women- and minority-owned suppliers internally and within our customers’ events.
To help further our education and create connections that can benefit our customers, we attend the annual WBENC National Conference. Mae Ibe, CMP, Customer Success Director and Conference & Tradeshow Specialist, represented M&IW at the 2024 conference.
“In addition to learning more about best practices and keeping up with the industry trends, this conference is especially valuable because of the opportunity to network with corporations that are focused on working with diverse suppliers,” said Mae. “The connections made not only advance a diverse supply chain but also expand business horizons for women-owned businesses like M&IW.”
One example of the powerful connections made at the WBENC National Conference is M&IW’s ongoing partnership with BMO Bank. In addition to supporting BMO’s incentive travel programs, our relationship revolves around supporting supplier diversity. Learn more here.
Partner with M&IW
If you’re interested in adding M&IW to your list of diverse suppliers, contact us to explore how we can elevate your meetings, events, and incentives. Already an M&IW customer but need proof of our women-owned status? Contact your Customer Success Manager.