The Role of Women & Minority Business Enterprises in the Manufacturing and Construction Industries
The globalized world includes many women and minority business enterprises, and their numbers are continually increasing day by day. In the U.S manufacturing and construction industries, many contractual projects require Women Business Enterprise (WBE), Minority Business Enterprise (MBE), and Disadvantaged Business Enterprise (DBE) participation. The participation goals vary from one state to another, but the majority of states greatly value the role of women and minority business enterprises.
For many manufacturing and construction companies, acquiring the services of the WBE and MBE in order to meet the minimum participation criteria becomes a daunting task. The large-scale manufacturing and construction companies are on the lookout for an enterprise that not only fulfills the project contract requirements but also provides them with a proficient range of business services. Having a WBE certified business on board has numerous benefits and will provide the all-important edge required to win over contracts of major projects.
Benefits of Working with Women Business Enterprise
Both manufacturing and construction companies will greatly benefit from acquiring the services of an independent merchant service, such as EPNA, who excels in delivering high-end electronic processing services. The integration of electronic processing services will provide customers and consumer s with the latest technology in payment processing options.
The services provided by Electronic Processing of North America, LLC (EPNA) are merely half of the total benefits that companies will enjoy with an association with such a merchant processing company. EPNA takes pride in being the only WBE certified business in the electronic payment processing space in Cook County and The City of Chicago and can help companies in satisfying the project goals associated with WBE and MBE participation.
For small and large-scale businesses, working with Women Business Enterprise will help them earn the credentials, respect, and reverence of the business society. This integration will elucidate their business aims and strategies to the widespread business market of the region and will ultimately help them broaden their business reach.
A healthy business connection with WBE or MBE serves as an act of promotion geared towards helping minority and women business enterprises solidify their overall business stature. This promotional acts goes along well with business tycoons and magnates of the region and will ultimately assist the construction business in the pursuit of professional career success.
WBE & MBE Participation Goals of Different States
The Division of Minority & Women-Owned Business Development in New York works for the promotion & cultivation of the vigorous business relationship between companies and WBE/MBE. The majority of the states have established well-defined participation goals while others may not have defined WBE/MBE participation goals but do work for promoting and increasing such businesses participation.
In the state of North Carolina, the Office of Historically Underutilized Businesses is responsible for overseeing MBE and WBE programs. On all the construction projects, the participation goal stands at a verifiable 10% and the program also requires the services of local agencies to set project goals for the incoming state funds.
Massachusetts also shares a similar approach having a WBE/MBE participation goal of combined 10.4% for all the construction contracts. In terms of design contracts, this percentage increases to a combined total of 17.9%. They also share a similar approach with North Carolina for local agencies acquiring the state funds for projects related to construction.
In Virginia, the Small, Women-owned Minority-owned Businesses Program (SWaM) had established 42% participation goals. Although some agencies working independently within the state do have separation participation goals for WBE and MBE participation.
In the city of Orlando, the goals for MBE and WBE participation are 18% and 6% respectively. While in the city of Tallahassee, the goals are based on the service types. Several states do also have independent programs such as Mentor-Protégé Program designed and developed to support women, veterans, and minorities working in the business industry.
Understanding WBE & MBE Goals
For local contractors working in the manufacturing and construction industries of today and tomorrow, there exists a dire need for acquiring in-depth knowledge of the participation goals associated with such business enterprises. Being equipped with the substantial knowledge of rules and regulations of Federal, State, or Local Agencies can help the contractors in winning over project bids.
The need for adopting the services of WBE & MBE is substantial. Yet, locating such businesses can be a complex affair. Certified by the City of Chicago and Cook County, EPNA can help manufacturing and construction businesses satisfy their respective goals of participation being followed in different states of the U.S.A.
For more information, please feel free to email EPNA at [email protected].
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