NMSDC and WEConnect International Unite for MWBE Empowerment

NMSDC and WEConnect International Unite for MWBE Empowerment

At the WEConnect Asia Pacific Regional Conference, the National Minority Supplier Development Council (NMSDC) and WEConnect International signed a strategic partnership aimed at increasing connections between Minority and Women-Owned Business Enterprises (MWBEs) and international corporate buyers. This collaboration represents a significant step toward fostering economic growth and building sustainable relationships.

Objectives of the Partnership

The main objective of this partnership is to enhance NMSDC’s efforts to connect historically underserved communities with major corporate purchasing entities. This initiative seeks to bridge the racial wealth gap by bolstering economic partnerships that are beneficial to all parties involved.

Advocacy for Economic Interests

The partnership will advocate for the collective economic interests of both organizations. By working together, WEConnect International and NMSDC will promote governmental policies that support business and economic growth.

Engagement and Outreach

Both organizations will actively engage their diverse memberships, opening doors for minority and women-owned businesses with public and private companies. The goal is to empower these businesses to expand and create new intergenerational wealth within their communities.

Creating Opportunities through Collaboration

NMSDC and WEConnect International will facilitate various joint initiatives such as events, seminars, workshops, and discussions. These activities are designed to create commerce-driven opportunities that enhance business growth and development.

Promotion of MWBEs

They will also focus on promoting WMBEs (Women-Owned Minority Businesses) and corporate partners on both domestic and international fronts. Their innovative approaches will enable advances in the global marketplace, showcasing member businesses that are making strides in their respective industries.

Sharing Best Practices

By sharing best practices and knowledge, both organizations aim to advance their collective missions. This collaboration will serve to support each organization's strategic goals and help them learn from one another’s experiences.

Leadership Perspectives

NMSDC CEO and President, Ying McGuire, highlighted the importance of this partnership, especially in light of the challenges facing Black women business owners. She emphasized that leveraging the global economy can significantly accelerate the development of MWBEs in their network.

Elizabeth A. Vazquez, CEO and co-founder of WEConnect International, expressed optimism about the partnership's potential to empower minority and women-owned businesses worldwide. Both leaders recognize the necessity to break down existing barriers for these enterprises.

International Business Opportunities

This partnership is also part of a broader international delegation effort by NMSDC aimed at expanding business opportunities for both their MBEs and corporate partners across Australia and New Zealand. Those interested in learning more about this important initiative can reach out to NMSDC Global Link Program lead, Marc Winston.

About NMSDC

Founded in 1972, NMSDC has been a driving force in supporting communities of color that have historically been excluded from business opportunities. It aims to correct unequal access to wealth-building activities by fostering upward mobility through entrepreneurship.

About WEConnect International

WEConnect International is dedicated to helping women-owned businesses thrive in the global marketplace. They focus on providing identification, education, registration, and certification to women-owned enterprises, thereby forging connections with member buyers who are committed to inclusive sourcing and supplier development.

Frequently Asked Questions

1. What is the purpose of the NMSDC and WEConnect International partnership?

The partnership aims to enhance connections between MWBEs and corporate buyers, promoting economic growth and addressing disparities faced by minority business owners.

2. How will this partnership benefit minority-owned businesses?

The partnership will provide advocacy, engagement opportunities, and shared resources to empower minority-owned businesses and create intergenerational wealth.

3. What type of events will be organized under this partnership?

The partnership will facilitate joint events, seminars, workshops, and discussions focused on commerce-driven activities to enhance business growth.

4. Who can benefit from the initiatives of NMSDC and WEConnect International?

Both organizations aim to assist WMBEs and corporate partners, enhancing their opportunities in domestic and international markets.

5. How can one get involved with NMSDC's initiatives?

Interested individuals can contact NMSDC Global Link Program lead, Marc Winston, to learn more about upcoming activities and opportunities within the partnership.

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