One of the key acknowledgments of our supplier diversity programs is that there is a pool of suppliers out there full of untapped potential because they do not have access to the same opportunities that their majority-owned counterparts do. Five decades of work toward equality and equity for United States-based diverse suppliers is paying off, allowing us to focus on an even bigger picture: global supplier diversity and the enormous potential of diverse suppliers outside the U.S.

Let’s cut right to the chase: The United States is the global leader in supplier diversity. 

Successful businesses are built on good relationships with clients and vendors. For diverse-owned businesses, building and maintaining relationships with corporate partners should be a top priority. Firms committed to supplier diversity and inclusive supply chains are a boon for diverse suppliers that are up against systemic barriers and outright discrimination.

For the third year, we at CVM, a supplier.io company, conducted our survey of supplier diversity professionals and diverse suppliers. This first-of-its-kind survey gives insight into what supplier diversity professionals experience within their own programs, as well as how diverse suppliers navigate the supplier diversity environment.

We know that small businesses are a vital component of our economy. According to the U.S. Small Business Administration (SBA), there are nearly 30 million small businesses in the United States and they collectively employ 47.8 percent of the U.S. workforce.