IDO – Receives National (WBENC) Certification

IDO – Receives National (WBENC) Certification

By: Jill Mendoza Indianapolis, Indiana – September 22, 2014 – IDO Incorporated is proud to announce that we have received our national certification as a Women’s Business Enterprise by the Women’s Business Enterprise Council – Great Lakes, a regional certifying partner of the Women’s Business Enterprise National Council (WBENC). WBENC’s national standard of certification implemented by the Women’s Business Enterprise Council – Great Lakes, is a meticulous process including an in-depth review of the business and site inspection. The certification process is designed to confirm the business is owned, operated and controlled by a woman or women. About Women Owned Business According to a recent report “The 2014 State of Women-Owned Businesses”, “Most businesses in the U.S. economy—now and in years gone by—are small. Fully 82% of all firms, including 91% of women-owned firms, have no employees other than the business owner, and just 4% of all firms and 2% of women-owned firms have 10 or more employees—including less than 1% of each having 500 or more employees. However, as we know larger firms—though small in number—account for the lion’s share of jobs. In terms of revenue generation, fully 75% of all firms, including 89% of women-owned firms, generate less than $100,000 in annual revenues as of 2014, while just 9% of all firms and 4% of women-owned firms generate more than $500,000 in revenues annually—including 5% and 2%, respectively, topping the million-dollar revenue mark. However, as with employment, the relatively small number of high-revenue firms account for most of the nation’s business sales. The 2% of women-owned firms with 10 or more employees accounts for 74% of all of the jobs provided by women owned firms, while economy-wide, the 4% of firms with 10 or more workers supplies 90% of all jobs in the private sector, non-farm workforce. For that reason, it is important to track the growth in the number of women-owned firms, not only over time and in total, but across the employment size spectrum—to see how women-owned firms are faring as they grow. So while more and more women are starting businesses—at rates 1½ times the national average, the real issue at hand is not getting more women to start a business, but rather providing support to women who are already in business to enable them to grow their enterprises to the next level. That is the key issue and most important challenge for the enablers of women’s enterprise development to address. A good place to start may well be among firms with five to nine employees and those aiming at, but just shy of, the million-dollar mark”. Learn where growth leads and where it lags in The 2014 State of Women-Owned Businesses Report. About WBENC The Women’s Business Enterprise National Council is the nation’s largest third party certifier of businesses owned and operated by women in the United States. WBENC currently oversees the certification of over 2000 Certified WBENC Business in the US. There are approximately 200 WBENC Certified Businesses in Indiana. Additional, WBENC is a resource for the more than 700 US companies and government agencies that rely on WBENC’s certification as an integral part of their supplier diversity programs.

Comments are closed.