In this challenging time, it is with great pleasure we can share some good news. EnvirOx is now registered as a Women Enterprise Business (WEB) under the Illinois Business Enterprise Program (BEP). This adds to our ever-growing list of certifications:
- Commonwealth of Massachusetts
- MA SDO (Massachusetts Supplier Diversity Office)
- Women's Business Development Center - Midwest
As a reminder, EnvirOx is also certified by the Women's Business Enterprise National Council (WBENC). They're the largest third-party certifier of women-owned businesses.
What does that mean for you?
If you're looking for diverse suppliers, this certification is a huge benefit. We'll now appear on the State's Directory as a certified vendor with the Business Enterprise Program in the specialty area(s) of:
NIGP 19200: CLEANING COMPOSITIONS, DETERGENTS, SOLVENTS, AND STRIPPERS - PREPACKAGED
BEP assists businesses owned by minorities, women, and people with disabilities gain access to the State of Illinois procurement process.
It Helps Your Bottom Line
The main benefit is that it helps your supplier diversity. The basic idea is to strengthen a company’s supplier base by making sure it’s pulling from a diverse number of sources. The reason why more and more forward-thinking companies of all kinds have embraced this strategy is that studies have shown having a more diverse supply base helps the bottom line. In fact, the estimate is that for every $1 million spent operating a diversity supplier program, there’s a return on investment of $3.6 million.1 This is achieved by providing knowledge and inroads into new domestic markets, solidifying a flexible and reliable supply chain as demographics continue to shift, and providing a robust base for contract bids.2 That’s a fantastic number that highlights a practical reason every company should be interested in supplier diversity.
Tax Credits & Incentives
Another great benefit is that the federal government provides tax breaks for companies who use minority and women-owned businesses as suppliers. In addition, there’s a tax incentive that reduces tax liabilities for companies that use these same diverse suppliers for projects that are funded with state or federal grants and loans. Some states also have similar tax incentives.3 Be sure to consult with your tax professional about what incentives might be available to you if you use certified women-owned suppliers like EnvirOx.