The onus is on both the corporate sector and individuals (peers, family, friends, etc.) to ensure minority-owned and woman-owned businesses succeed.
provided the economic ripple effects of supplier diversity. When companies hire diverse suppliers, they, in turn, hire employees and purchase goods and services with revenue that remains in the community. The additional hiring to meet this increased demand means that more people have income that they will use to purchase goods and services for their households and families. A chain reaction and ripple effect of indirect and induced spending occurs.
The net effect is that the federal, state, and local taxes generated by this cycle of higher wages and increased sales can provide additional economic benefits to the diverse communities where they are being generated, presuming officials are held accountable for the beneficial spending of those tax dollars.in the United States and Canada.
“Sometimes, I think it’s easier to believe that you’re on your own rather than knowing that there are lots of people in your community who are ready to help. So we need to encourage people helping, and encourage women to ask for and accept help, too,” she adds.“Encouragement to begin a new business and raise the statistics of women in entrepreneurship should be supported by governmental bodies and organizations, but also by communities,” said Doyle.
“Baby showers are what we do for women when they’re starting a new phase of their lives,” Doyle says. “Family and friends come together to celebrate, and they bring mom the things she needs to make the transition into motherhood easier. But starting a business isn’t that different from preparing for a baby. So how great would it be if we could do this for new business owners, too?”
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