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The Big Idea…
The Global Supplier Diversity Conference (GSDC) provides the strategic framework to help women and underrepresented business owners identify and prepare to secure VC funding and corporate contracts, while connecting founders and business owners to those opportunities. The full-day conference is designed to boost spending with minority- and women-owned businesses, launch new vendor partnerships and increase the number of successful underrepresented small business suppliers.
ADDRESSING SUPPLIER DIVERSITY
The history of supplier diversity in the United States is rooted in the civil rights movement of the 1950s and 1960s and driven by legislative mandates. The current spotlight on economic and racial inequality in the United States draws much attention to the impact of supplier diversity programs.
The U.S. Small Business Administration estimates there were 8 million minority-owned companies in the United States as of 2018. Supplier diversity programs represent an opportunity for corporations to collaborate with minority-owned companies, create economic opportunity, and enhance their businesses. Corporations have experienced the benefits of unlocking the power of diversity to deliver innovation and capture new markets — and there is more work to be done.
95% of top U.S Corporations have a supplier diversity spending goal
80% of U.S Corporations mention supplier diversity in their annual reports
Among the 2019 Top Companies for Supplier Diversity
18.65% of Total Procurement was spent on Tier 1 Diverse Suppliers
3.85% of Total Procurement was spent on Tier 2 Diverse Suppliers
Source: 2019 DiversityInc