Women Business Owners Find Strategic Solutions to Enhance Corporate Purchasing and Diversity

Women Business Owners Find Strategic Solutions to Enhance Corporate Purchasing and Diversity

The good news: A new study revealed that women's business enterprises are earning a significant percentage of their revenues from Fortune 1000 corporations, but only capture an average of 4% of the billions spent annually on outside goods and services.

Women are successfully selling to big corporations, but many challenges continue to loom large?including learning about opportunities, reduction in the number of opportunities due to the bundling of smaller contracts into fewer large contracts, and the increasing need for corporate cost-cutting. To counter corporate realities, nearly half of women surveyed have entered into joint ventures or strategic alliances to bid for corporate opportunities.

Those that have been successful in obtaining corporate contracts have formed relationships
inside the corporations as well. Nearly all rated relationships with decision makers as a key success factor in doing business with large corporations, citing relationships with purchasing personnel, end users, and other suppliers as key touchpoints.

The study, Access to Markets: Perspectives from Large Corporations and Women's Business Enterprises, was conducted by the Center for Women's Business Research and commissioned by the Women's Business Enterprise National Council (WBENC), Women Entrepreneurs' Connection at FleetBoston Financial and the Ewing Marion Kauffman Foundation. To read the complete summary, go www.womensbusinessresearch.com.

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