Earlier this year we applied for and were certified as a WBE. What on earth is that you may ask!? A WBE (Women’s Business Enterprise) is an independent business concern that is at least 51% owned and controlled by one or more women. This certification is being offered by WEConnect Europe, a not-for-profit organisation following in the footsteps of WeConnect International who runs similar programmes in Canada, USA, China and India.

For large corporations and the public sector, the matter of diversity has reached the point of policy requirements and reporting. Hence, many organisations are now interested to access suppliers with such a pedigree. It is interesting to note that in the U.K. there are over a million women, who run businesses generating around £130 billion turnover. Yet despite that, women-owned businesses are seriously under-represented in large corporate and public sector procurement contracts.

WEConnect Europe estimates that they comprise less than 1% of all domestic and international suppliers to corporations and governments. The result: big business misses out on value and innovation, women’s businesses don’t grow, and national productivity and GDP suffer.

WeConnect Europe has therefore now signed up many corporate members for whom a diversity policy has translated into a desire to access women owned suppliers. These include Accenture, Alcatel-Lucent, AT&T, Boeing, Cisco, Citi, DLA Piper, Ernst & Young, Hewlett Packard, IBM, Intel, Manpower, Marriott, Mastercard, MDB, Motorola, PG&E, Pfizer, Verizon and Wal-Mart. These are all high profile organizations and their leadership role in this area may stimulate similar interest in other businesses.

A conference for WeConnect Europe members and other interested parties of corporates and suppliers is being planned for the 7th October and is being hosted by HSBC, who hold that ‘Diversity is a source of opportunity’. It would seem right therefore to brand this growth in the supply pool available to the procurement professionals as ‘supply opportunity’.

A supplier base that reflects the growing diversity of European businesses in particular and the population in general makes good business sense. Women are involved in 85% of purchasing decisions, and can, through their choices, bring innovative and quality products and services to the marketplace.

WBE organisations are aligned not to ask for any privileges, other than the opportunities to prove they bring innovative solutions to your business problems and have goods and services that are competitive on price and quality.

For more information on WEConnect Europe or for the conference go to www.weconnecteurope.org or contact Sue Lawton on sl@weconnecteurope.org

Penny Sophocleous©

Chief Executive, Corporate Alchemy