Two annual studies from the city, the FY2014 Annual Disparity Study and the FY2013 Annual Participation Report, were recently released and focused on the utilization of Minority, Women and Disabled Owned Business Enterprises (M/W/DBEs). There is a ton of information to be analyzed in these two documents– here’s a few highlights:
1. Women represent more than 30 percent of Philly business owners
There’s still lots of room to grow in this area
2. 2012 was a good year for contracts awarded to African Americans, but has declined in the past few years.
Contract dollars towards white women has increased the last two years
3. Contracts awarded to M/W/DSBE in Philly have increased but are still less than half of the national average
We can do better.
4. Goldman Sachs 10,000 Small Businesses first cohort was a diverse set of entrepreneurs
Earlier this year, we reported that the Goldman Sachs 10,000 Small Business was paying off in Philly.
Drilling down a little further in to the Office of Economic Opportunity’s 2013 Annual Report, their M/W/DSBE rates are also doing well, with approximately half of the 5 cohorts that completed the program represented by minority and women‐owned businesses. The five cohorts of 10,000 Small Business Scholars have noted the dramatic impact of the program on their operations – increased number of employees, additional financing secured, and an expanded customer base
From our Partners
5. Philly’s outreach to M/W/DSBE firms has been recognized nationally
The Insight Center for Community Economic Development in Oakland, California studied 20 large cities and 20 large counties to examine M/WBE inclusion through race neutral and race conscious measures. Philadelphia was recognized as having the most successful supplier diversity program among the 40 organizations studied, including OEO’s monthly “Doing Business in the City Program” to expand the capacity to perform on public and private sector work.
6. Professional services have shown continued increase in M/W/DSBE participation in their contracts
Let’s get all of these on the upswing.
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