Diversity Buzz – Supplier News
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Diversity Buzz of the week from Supplierty News

 

This Week’s Top News 

by Jaymie White

SBA looks to connect with and support veteran entrepreneurs
According to the latest Small Business Administration (SBA) report, “veteran-owned small businesses contribute approximately $1.4 trillion to the nation’s total sales/receipts per year.” Linda McMahon, the head of the SBA, is currently looking to increase this number on her nation wide tour to meet with small businesses from all 50 states. The purpose of her tour is to raise awareness for small businesses in America and educate business owners on SBA offerings.  Read More

Walmart promotes diversity in politics with $2 million grant
Walmart recently announced that it will use $2 million to support minority students pursing internships in politics. The grant, which was announced earlier this month, will be given to the Congressional Black Caucus (CBC) Foundation and the Congressional Hispanic Caucus (CHC) Institute to be used to recruit and support diversity in government. This recent commitment is a continuation of previous financial commitments which has led to Walmart giving more than $6 million to both organizations over the past few years.  Read More

 

This Week’s Most Viewed Content 
A look at Viacom’s Supplier Diversity Program
I am sure many people are familiar with Viacom, one of the largest media companies in the world. Viacom is a stable of entertainment with content that can be seen in more than 180 countries, heard in dozens of languages, and reaches more than 4 billion subscribers. While the brand of the company is well known, what is not is its recent push to connect with more diverse suppliers to deliver its content across platforms.  This procurement strategy has helped Viacom connect with “approximately 1,100” vendors that have either self identified as diverse or “fit into the rubric to be certified by one of these organizations.”  Read More

 

Government
Congress looks to make it easier for small businesses to offer 401(k)s
Two recent Pew Charitable Trusts surveys found that smaller companies are less likely to offer retirement plans to their employments. “At companies with five to 24 employees, 56 percent had no access to a retirement plan. At companies with 25 to 99 workers, nearly a quarter had no access.” The big issue causing this lack of offering resulted in the costs of starting a plan and the work employees would have to undertake to set a plan up.  Read MoreGlobal
New Canadian Report suggests 10 strategies to increase diversity in the Federal Government supply base
A new report entitled “Benchmarking SMEs as Suppliers to the Government of Canada: Inclusion, Innovation, and International Trade”, has released 10 strategies for improving diversity in the Federal Government contracting process. The report was conducted by Professor Barbara Oscar “and a research team at the University of Ottawa’s Tefler School of Management, in collaboration with Public Services and Procurement Canada.” Read More

Lending
More lending options are coming to small business thanks to Square ebay Partnership
One of the biggest issues small businesses face is the need to access working capital. While many small businesses may have large amounts of accounts receivables, having a robust cash flow is important for growing businesses looking to expand. Square Capital, the lending arm for payment processing company Square, has partnered with eBay to offer lending options for small businesses. “Starting in the third quarter, merchants on the site can apply for a loan as small as $500 and up to $100,000 to help with everything from payroll and inventory to equipment and marketing.” Read More

Small Business
For small business, checks are still an option
As the digital payment era ramps up, small and mid sized businesses (SMB) are still utilizing checks to make purchases and payments, as are their retail customers. According to Biz2Credit, “SMBs issued an average of 406 checks per year compared to retail customers, who write around 50 checks per year.” Read More

Insights
Small businesses are growing with Facebook in the United States (Aug-Sep 2017): See how small businesses are growing on Facebook

Diversity Buzz

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