Are you a minority-owned business looking to grow? If so, you may want to consider getting certified as a diverse supplier. There are many benefits to being a certified diverse supplier that ultimately can help your business be sustainable and provide opportunities for expansion.
In this article, we will discuss the benefits of being a certified diverse supplier and how to find opportunities on Merx.
Why Should I Get Certified?
Increased visibility for your minority-owned business – this is the number 1 benefit of being a certified diverse supplier. Private organizations and government procurement departments are actively looking for diverse suppliers to provide an inclusive economic opportunity.
Being visible to these organizations can eventually help your business be sustainable and grow. When you are in a database of certified diverse suppliers, you can be informed quickly about potential new opportunities from public or private organizations.
Other benefits of being a certified diverse supplier include new supply chain opportunities, creating a stronger reputation for your business, and being a part of the network.
What are the Classifications for Diverse-Owned Businesses?
The general requirement in North America for a business to qualify for its respective certification is to have the business be at least 51% owned and operated by any of the following groups:
- Indigenous-Owned Business
- Women-Owned Business Enterprise (WOBE)
- Disability-Owned Business (DOBE)
- Lesbian, Gay, Bisexual, Transgender, Queer, Two-spirit (LGBTQ2+)-Owned Business
- Visible Minority-Owned Business
- Veteran's Business Enterprise (VBE)/Service-Disabled Veteran's Business Enterprises (SDVBE)
Where Can I Get Certified?
There are plenty of non-profit organizations that help businesses to get certified and connect with the government and the private sector. Below are some of the organizations that can help with certifications:
- Inclusive Workplace and Supply Council of Canada (IWSCC) – helps with veteran-owned and disabled-owned businesses.
- Canada’s LGBT+ Chamber of Commerce (CGLCC) – a government-funded LGBT+ chamber that helps LGBTQ2S+-owned businesses get certified.
- National LGBT Chamber of Commerce (NGLCC) – third-party certifying body for Certified LGBT Business Enterprise® (Certified LGBTBE®) in the US.
- Canadian Aboriginal and Minority Supplier Council (CAMSC)
- National Minority Supplier Development Council Inc (NMSDC)
- WBE Canada – a non-profit organization that helps Canadian women-owned businesses get certified and find private and public opportunities.
We also have an in-depth article on how to prepare the documents usually needed to get certified.
How Can Buyers on Merx See That I Have a Certification?
Our mission at Merx is to provide a platform for participating buyers to allow them to find diverse and qualified suppliers quickly to achieve their supplier diversity goals. Buyers who utilize Merx can search for vendors with certain certifications.
When a vendor registers, Merx gives them the opportunity to select the type of business and the certifications they currently have, including their status and the certification number. This information is then part of the vendor search criteria for participating buyers.
Registered vendors on Merx are given a wider visibility to the participating buyers who seek vendors for their supplier diversity program or as part of their solicitation’s requirements. Buyers can directly invite a diverse supplier to bid on a solicitation or notify potential awards.
How Do I Find Opportunities on Merx?
Finding tenders, RFPs, and other opportunities on Merx is quick and easy. Merx offers various tools and services that can match your business needs. You can select certain provinces or regions to get notified of any new opportunities in those areas. There’s also a flexible option where you can explore tenders and pay-as-you-download documents.
The advanced search tools allow vendors to specifically target the tenders they want to see and set up a notification schedule for newly added opportunities within certain criteria. The notification service is free of charge to all registered vendors.
Having a bidding platform like Merx can help make your business growth strategy effective and efficient. Adding your certification information on Merx can also help you become more visible to thousands of participating buyers on Merx seeking diverse suppliers.
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