93% of Veteran Owned Business respondents also identified with another #SupplierDiversity category. #VeteranOwnedBusiness
VBEs often also fall into other supplier diversity buckets.
An impressive 93 percent of VBE respondents also identified with another supplier diversity category, and 59 percent chose three or more categories. The most common additional category was minority business enterprises at 56 percent, followed by small businesses at 48 percent, service-disabled veteran businesses at 41 percent, and women-owned businesses at 30 percent.
As consumers, VBEs are strong believers in supplier diversity.
We brought back this thought-provoking question for our 2018 survey:
As a consumer, does an organization with a supplier diversity program influence whether or not you will buy from them?
The results we received to this question for veteran-owned businesses created an interesting split. When computing respondents who chose either a slight or a strong influence, VBEs came in at 62 percent, which was significantly lower than MBEs (76 percent), WBEs (73 percent), and LGBTQ businesses (90 percent), as well as the overall response of 72 percent. However, when separating out just VBEs that claimed a strong influence, the number was 43 percent, ahead of MBEs (39 percent), WBEs (31 percent), and all participants (36 percent). These results suggest that the philosophy of supplier diversity seems to be an all-or-nothing proposition with veteran businesses, but no matter the viewpoint, the opportunity supplier diversity affords to organizations cannot be ignored.
Which statistic in this report surprised you most?