Owning a business is no small feat in and of itself; obtaining Woman-Owned Business Enterprise (WBE) certification is difficult to boot, but deeply rewarding and broadly beneficial.
At NAx2 Creative, I’m honored to be a certified woman-owned business, but many are unaware just how many incentives are associated with working with a business that has secured this certification.
Massachusetts and many other states offer specific benefits to businesses that partner with WBE certified companies, but the true worth of working with such an organization extends far beyond official incentives.
Not only does supporting a woman-owned business foster a sense of progress, it opens up avenues for new supply channels, paving the way for more advanced offerings of goods and services that would otherwise be inaccessible.
Because WBE certified businesses are often smaller, they generally rely upon heightened creativity and novelty to keep their companies afloat. This translates to more original offerings for clients, and more innovative solutions.
Studies have found that companies who put women in positions of power or partner with women-owned businesses enjoy profit margins that are higher than those of businesses who choose the alternative.
In a time when many businesses operate on razor-thin margins, any extra profit is a welcome addition to a company’s bottom line, and partnering with a WBE certified business can help make that happen.
To further promote the practice of partnering with women-owned businesses, the federal government offers tax incentives to companies that partner with them. Of course, this incentive only applies to businesses that have obtained certification.
Additionally, projects funded with government grants or loans will incur less liability if the supplier is a woman-owned business. All of this can potentially translate to big savings when a partnership is struck with a WBE certified company.
Hefty as these benefits may be, they are only a small sampling of the advantages one can expect from working with a woman-owned business like NAx2 Creative. From expressing a progressive ethos to prioritizing high-quality work, the true worth of working with a WBE certified company is practically boundless.