Tuesday, June 4, 2013

Business Diversity in the Community

Business Diversity in the Community

With recent passage of the Transportation Special Purpose Local Option Sales Tax (TSPLOST) in the 13 county region around Augusta it is vitally important that our tax dollars being spent be representative of the community.  Of those 13 counties 7 having a minority population of over 51% (constitutes the majority).  Fifty-Nine percent (59%) of Richmond County’s residents alone are minority which means a significant amount of TAX dollars will come from this community (US Census Bureau Quick Facts 2013).  Over a 10 year period $841 million will be collected and fund projects which will include airports, highways, bridges and public transits.  This increase in construction equates to economic growth and not to mention jobs in the community.  Now you may ask how does this information tie back to business diversity?
    
Business Diversity also known as Supplier Diversity in short is the inclusion of minorities and women in contracting/procurement opportunities.  The purpose of these programs is to provide equal access to opportunities for qualified businesses that might not have been given a chance otherwise.  Business Diversity Programs can be seen in governments most times as a federal, state, or local requirement because of funding received.  Some major corporations also have supplier diversity programs as part of their social responsibility to consumers and recognition of a diverse community.  To answer your question of how this ties back to the community?

If over 51% of your community is minority and contributing major tax dollars to the region it is only fair to take in consideration the needs of the community.  Business Diversity is a mechanism for social responsibility in the community which in essence takes in consideration the community’s needs.  The utilization of minority and woman owned businesses directly impacts those in the community surrounding a particular business.  By diversifying contracting/procurement activity agencies begin to break down barriers to inclusion.  Jobs near that business are created because services have increased which necessitates more people to work.  Products are being bought and produced to keep up with the demand.  The more demand for products and services the more people required which means the more jobs being created in the community.   

How is Business Diversity working in your community?  Let us help!

Patterson-Brown & Associates is in the business of building, bridging, and sustaining relationships between small, minority, and woman owned businesses and connecting them with governmental entities and large corporations. 

Patterson-Brown & Associates is a business diversity consulting firm with specializations in contract compliance and business diversity strategies.  Brenda Brown is Principal & Business Development Director at Patterson-Brown & Associates.  She can be reached at (706) 834-4207 or bbrown@pba-diversity.com and www.pba-diversity.com.

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