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How sustainability achieved gender parity and what it means for women in business

Name: The Stevie® Awards for Women in Business Presents the 6th Annual Women|Future Conference Taking Place Virtually
Start: 2023-08-01 00:00:00
End: 2023-08-02 23:59:59
Location: Virtual Event

Business

Our recent report on chief sustainability officers (CSOs) in the U.S. revealed that women went from holding 28 percent in 2011 of the CSO positions to 54 percent in 2021. That’s a 94 percent increase.

It’s a positive development to see the playing field level for women in sustainability, but what’s driving this trend? And what are the implications for women’s leadership in business more broadly? Before diving into those questions, it’s interesting to look at the trends in gender and leadership in sustainability and business.

The state of women’s leadership in sustainability
When it comes to women’s leadership as CSOs, the biggest jump happened between 2013 and 2014, when the number of women went up by 11 percentage points. There was another significant increase between 2018 and 2021, around the time the #MeToo movement gained momentum. In 2020, when more companies than ever hired their first CSO, female CSOs broke the 50 percent mark to reach their current status.

Outside of sustainability, women in business have not advanced as quickly. In the C-suite, men still far outnumber women. According to a Morningstar report looking at data from 2019, women hold only 12.2 percent of named executive officer roles at companies, up just 2.8 percentage points from 2015. The report authors noted that “this reflects a rate of growth that would only deliver equal representation sometime in the second half of this century.”

So why are women advancing more quickly in sustainability?

3 reasons women in sustainability are moving up
I can surmise three reasons women are advancing faster in sustainability than they are in business more broadly.

1. There’s a robust pipeline of women vying for these roles.
According to the 2020 GreenBiz State of the Profession report, which my firm sponsors, the percentage of women holding any sustainability position has been steadily rising since 2010. Between 2011 and 2020, the percentage of women holding a vice president role grew from 31 percent to 51 percent. The pool of female directors grew by 18 percentage points, from 37 percent to 55 percent. And the percentage of female managers in sustainability roles has gone up the most, from 39 percent to 63 percent. By contrast, the Morningstar authors pointed to the “broken rung” at major corporations, in which “women are systematically passed over being offered their first and crucial career promotion.”

Based on the GreenBiz data and my experience as a recruiter, I believe this is not happening in sustainable business roles, where there’s a deep talent pool of women, starting at the manager level and steadily making their way up the ranks.

2. Women excel in these roles.
As I have written about before, research suggests that women are well-suited to succeed in sustainability roles. A 2018 Business and Sustainable Development Commission report argued that women have the necessary leadership qualities to take on sustainable development, and they have the desire to address social and environmental challenges.

In my work, I have also found the “feminine” traits such as the ability to collaborate, translate complex issues and demonstrate humility help CSOs succeed. CSOs are not in it for the ego boost; they find it more fulfilling to champion others, praise generously and inspire others to support a vision for the future that benefits all.

3. The path to sustainability leadership is inclusive.
Unlike other C-suite positions, there’s no specific set of credentials that CSOs are required to have, so the path to leadership can be more varied. Moreover, sustainability is, by nature, an inclusive field. The job requires engagement with diverse stakeholders, so it makes sense that hiring managers would seek out people with diverse experience and backgrounds. However, while this has led to gender diversity, it has not yet supported racial diversity: Only 16 percent of U.S.-based sustainability professionals today identify as a race other than white.

Is this trend good or bad for women?
I have many anecdotes pointing to executive leadership clarifying their preference for a woman to hold their CSO position. It made me wonder: Is this trend going to create a pathway for female leadership in business? Or are women being pigeonholed in sustainability?

While the Morningstar report authors noted that women in business face a “glass wall” blocking them from career tracks with room for advancement and higher pay, it’s my belief that gender parity in the CSO role is a good thing. With the growing importance of ESG at global companies, the women in the CSO role have great potential to influence the future of business.

Moreover, women have the skills to excel in these roles. Whereas in business generally there’s the “glass cliff” phenomenon — whereby women are promoted into leadership positions during a crisis and then blamed when they fail — my sense is that women’s aptitude with communication, influence and agility will help them succeed in the CSO role.

Click here to read the full article on Green Biz.

300+ Major U.S. Companies Voice Opposition to Anti-Equality Legislation

BusinessLGBTQ

skyscraper lit up at night in LGBT colors

Recently, the Human Rights Campaign (HRC), the nation’s largest lesbian, gay, bisexual, transgender and queer (LGBTQ+) civil rights organization, announced that more than 300 major U.S. companies have spoken out against attacks on the LGBTQ+ community by signing on to HRC’s business statement on anti-LGBTQ+ legislation.

The list of signatories, which has grown by 50% since the beginning of 2022, presents a unified message that anti-equality legislation is also anti-business, underscoring that assaults on LGBTQ+ rights contradict U.S. public opinion and decades of progress in the workforce.

The business letter was launched in 2020. But now, just three months into the year, 2023 is already on track to be a record-setting year of anti-LGBTQ+ attacks at the hands of state legislators throughout the country, with most of them targeting transgender people, particularly transgender youth. So far in 2023, HRC is tracking more than 460 anti-LGBTQ+ bills that have been introduced in statehouses across the country. More than 190 of those bills would specifically restrict the rights of transgender people, the highest number of bills targeting transgender people in a single year to date.

“The LGBTQ+ community is in a state of emergency, and silence is no longer an option. We’re grateful that more than 300 companies are standing up for their LGBTQ+ employees and customers against a backdrop of extremist attacks and disinformation. Together, these businesses are sending a message that being anti-LGBTQ+ is bad for business, and that they do not want their employees or customers to have to choose between living and working in a state where they can provide for their families or a state where they, or their LGBTQ+ children, can live without fear.

We encourage companies to continue working with leaders in their communities to stop anti-LGBTQ+ discrimination, which does nothing but discourage a strong business climate.” – Kelley Robinson, Human Rights Campaign President

Business leaders consistently report that they have difficulty with recruitment, retention, and tourism in states that debate or pass legislation that excludes LGBTQ+ people from full participation in daily life. These policy fights negatively impact businesses operationally and financially, and needlessly put the safety and wellbeing of their team members and their families at risk.

So far in 2023, HRC is tracking more than 460 anti-LGBTQ+ bills that have been introduced in statehouses across the country. More than 190 of those bills would specifically restrict the rights of transgender people, the highest number of bills targeting transgender people in a single year to date.

This year, HRC is tracking:

More than 110 bills that would prevent trans youth from being able to access age-appropriate, medically-necessary, best-practice health care; this year, nine have already become law in Arkansas, Tennessee, Mississippi, South Dakota, Utah, Iowa, Georgia, Kentucky and now West Virginia.
More than 25 bathroom ban bills filed,
More than 110 curriculum censorship bills and 40 anti-drag performance bills.<>

Continue on to read the Business Statement posted on HRC.org.

The Stevie® Awards for Women in Business Presents the 6th Annual Women | Future Conference

Businesswoman-owned

diverse group of women entrepreneurs facing sideways in a line

Hundreds of women professionals will gather virtually at the sixth annual Women|Future Conference from August 1-2, 2023.

The Women|Future Conference is a professional development, learning, and networking event that brings together a community of small business owners, executives, entrepreneurs, and women who are interested in starting a business. Attending the conference is free, but attendees must register in advance to access the virtual platform and sessions.

Women from cities across the United States, Canada, Australia, Asia, and Europe attend the conference year after year to be inspired, build resilience, and share insights into changes that impact their industries, their careers, and their lives.

The 2023 conference agenda features two days of panels, workshops, and breakout sessions hosted by over 30 world-class speakers including CEOs, founders, entrepreneurs, thought leaders, and small business consultants from The Audacious Agency, MENTOR New York, Jennings Social Media & MarTech, and others. The agenda also boasts a handful of speakers from global organizations; Microsoft’s Corporate Vice President – Global Industry Marketing; SAP’s Chief Marketing & Solutions Officer; and the Founder and CEO of Fempire, the #1 global coaching brand for women business owners.

The Women|Future Conference sessions will be interactive, designed for attendees and speakers to share what’s working in their organizations, troubleshoot the challenges they collectively face, and make meaningful connections. Session topics include:

Entrepreneurship: Tips for new business owners to transition smoothly from employee to entrepreneur
Lessons in Branding: Marketing tools and techniques to create a strong brand, and how to remain consistent as the brand grows and trends change
Business Awards: How to write winning business award nominations and leverage those wins to build credibility and boost business reputation
Storytelling: Mastering the art of authentic business storytelling to create brand awareness and connect with a target audience
Small Business Funding: Insights on how to navigate the investment landscape for women and identify the right investors and business opportunities
Networking: Insights on how to build social capital and find a trustworthy network of mentors that lead to career success
Workplace Inclusivity: Candid conversations about the real challenges and strategies used by women to foster more inclusive work cultures, and issues affecting women’s inclusivity in the workplace

The Women|Future Conference Events Manager, Lindsey Brill, remarked on the evolution of the conference since the first event in 2018:

“Six years ago, the Women|Future Conference was created to complement the highly successful Stevie® Awards for Women in Business competition to give high-achieving, career-driven women a place to share ideas and network. The first two conferences before the pandemic were in-person.

We have since remained a virtual conference, as our attendees and speakers appreciate the flexibility of a virtual environment, the ability to tune in from anywhere in the world, and the on-demand features once the event is over.”

Below is a partial list of the 2023 Women|Future Conference sessions:

From Wages to Wealth: Making the Shift from Employee to Entrepreneur
Should I Enter the Stevie Awards? Learn How Leaders Leverage Awards to Boost their Business and build Credibility
Taking the Leap: How to Transfer Your Skills from One Role to the Next
Funding Female Futures: Navigating the Investment Landscape and Bootstrapping Success
Unveiling the Unspoken: Candid Conversation on Workplace Inclusivity Issues for Women in Business
From Idea to Empire – Lessons in Branding
The Must-Have Money-Marketing Marketing Tool…That Few Businesses Have but that Every Single One of Them Needs

To learn more about the Women|Future Conference speakers and view the full agenda, visit www.womenfutureconference.com.

Free Registration

In order to attend the conference and access the virtual event platform, all attendees must register in advance on the registration page.

For partnership, press, and media inquiries, contact Nina@stevieawards.com.

NMSDC: The Certification Every Minority-Owned Business Enterprise Needs

Business

According to national surveys, basic financial literacy in the United States is generally low, and federal surveys reveal gaps among racial groups and ethnicities. Financial literacy and access to capital don’t impact all businesses equally. Unsurprisingly, there are significant disparities across racial and socioeconomic segments. According to the U.S. Small Business Administration less than 10% of all federal contracts went to minority-owned businesses in fiscal year 2020.

If your company wants to connect with America’s top publicly-owned, privately-owned, foreign-owned corporations, and other large purchasing organizations, National Minority Supplier Development Council (NMSDC)’s certification can be a real asset. The organization has an impressive list of corporate members that includes IBM, Microsoft, and Google. The council helps these companies connect with the more than 15,000 minority-owned suppliers in its database. Seventeen states and 25 cities also accept NMSDC certification for programs designed to help minorities win public-sector contracts.

Who is eligible: For-profit enterprises of any size that are in the United States and are owned, operated, and controlled by minority group members who are U.S. citizens. For the purposes of NMSDC’s program, a minority group member is an individual who is a U.S. citizen with at least 25% Asian-Indian, Asian-Pacific, Black, Hispanic, or Native American heritage. Documentation to support the claim is required. Additionally, at least 51% of the business or the company’s stock must be owned by such individuals, and the management and operations must also be controlled by such individuals.

How to apply: Start by contacting one of the NMSDC’s regional councils close to your business. Your council will provide you with a standardized application and request documents to support your minority status claim through a combination of government documentation. You will also need to sign an affidavit or declaration, provide current financial statements, submit tax returns, a bank signature card and more. Unlike most minority-owned certification programs, the organization will make a virtual office visit to your company to verify the information on your application.

The process of obtaining, coordinating, and submitting all the requirements can be time-consuming, however, the good news is that once you have completed the work for your initial certification, the subsequent renewals are typically much more streamlined.

Business Benefits of Certification

Access to capital and capacity building: Certification is a door opener and potentially give minority business enterprises (MBEs) an edge over non-certified MBEs with whom you are competing for contracts. The great news is that the largest U.S. corporations purchase more than $100 billion in products, services and solutions supplied by MBEs. NMSDC facilitates business connections between corporate members and MBEs through Check—Mate ^®, which sets the foundation for future partnering and business opportunities. Furthermore, NMSDC has created capital access opportunities for MBEs throughout the life cycle of its partnership with the Business Consortium Fund, the Growth Initiative Program, Corporate Plus® Membership Program, and Capital Managers’ Program.

Unique networking opportunities: Networking is key to the success of any minority business enterprise. By getting NMSDC certification, you’ll join a network of powerful, influential leaders who are eager to share their wisdom and expertise. MBEs have exposure to over 15,000 other MBEs, through the MBE2MBE Search Tool, to engage in business opportunities and the ability to form partnering relationships, strategic alliances or joint ventures for success. Most importantly, NMSDC holds the largest U.S. conference focused on minority business development, where MBEs connect with hundreds of prospective buyers, government agencies, and procurement professionals.

Stand out from competitors: MBEs have to deal with a lot of competition, and it can be tough to cut through the clutter and noise. A minority owned business certification provides unique opportunities as many corporations seek out diverse-owned businesses to spend their money. Once you are certified, spread the word on all your marketing vehicles, including your website, brochures, email newsletters, social media channels and anywhere else you can. NMSDC certification helps communicate your minority business status, not only to prospective clients but also to vendors and the broader business community. It communicates that diversity is a core value of your enterprise, making you a more attractive business partner through values alignment.

If you’re a minority business owner, don’t wait longer and pursue the certification that will unlock new opportunities to grow and scale your business. For more information, visit https://nmsdc.org.

Elena Reygadas, named world’s best female chef, cooks in rhythm with nature

BusinessLifestyle

Elena Reygadas smiling with a green floral background

By Albinson Linares and Valeria León, Noticias Telemundo

Elena Reygadas’ days start early, which explains why she laughs remembering that everything was “dark” when she found out she’d been named best female chef in the world in the The World’s 50 Best Restaurants 2023 awards.

“I did not expect it and it has been a very nice surprise; it is very exciting to obtain recognition like this. I want to share it with my entire team; there are many of us in the kitchen and it is always a collective act,” Reygadas, 46, said in an interview with Noticias Telemundo at Rosetta, her first and signature restaurant, which she opened in 2010 in an old mansion in the Roma neighborhood of Mexico City.

Over a decade later, the world-renowned restaurant is where Reygadas has dedicated herself to reconfiguring the vast culinary wealth of her country, menu by menu.

“The menu is based on the timeline and the ingredients that nature gives us. Right now, for example, we have a dish with Manila mango that only lasts a little while. We are also using a lot of muscatel plum, which is a moment and when it’s over, it’s over,” said Reygadas, who was named Latin America’s best female chef in the 2014 awards. “It makes us sad because we became very attached to the ingredients, but that also allows us to continue our creativity and move into a new moment.”

On Wednesday morning, before Rosetta opened to the public, the aromas of Mexican herbs and vegetables such as hoja santa, romeritos and avocados mingled with powerful hints of spices and, of course, chiles, which are at the heart of many of Reygadas’ signature dishes.

hearty bowl of Tomatillo soup
A dish at Rosetta has green tomatoes, eggplant, molasses and Ocosingo cheese.

When asked the secret of Rosetta’s success, she credits that emphasis on “biodiversity.”

“It’s a factor that also has its challenges, because sometimes people who visit us are already in love with a dish but, when they arrive, it is gone and they don’t like that,” Reygadas said. “So changing the menu to respect nature’s times is also a challenge at the diners’ level.”

Vegetables play a leading role in many of Reygadas’ signature dishes, such as beetroot tartare al pastor, smoked cheese tortelloni with hoja santa — a Mexican herb — and the famous kale with pistachio pipián, or mole sauce, and romeritos (wild herbs) tacos.

“I am convinced that the vegetable side of the kitchen and the ingredients of Mexico are wonderful; they are exceptional flavors and there are many to explore. That is why we are increasingly focusing more on the vegetable,” she said.

Read the complete article originally posted on Telemundo here.

Beyoncé to donate $2 million to students and small business owners during Renaissance tour

AdvocacyBusinessEntertainment

By Randi Richardson, today.com

Beyoncé’s Renaissance World Tour is doubling as a philanthropic tour. Her charity foundation, BeyGood, announced on April 20 that it is donating $2 million to entrepreneurs and students while the most-Grammy-winning artist tours the country for her latest album “Renaissance.”

Half of the donation will go to entrepreneurs. The day before Beyoncé’s scheduled concert in a city, BeyGOOD will host luncheons for entrepreneurs who have the chance to win a grant from the 100 allocated for each networking event. BeyGOOD plans to support a thousand small businesses with a total donation of $1 million.

The foundation said it is prioritizing organizations that support or serve marginalized and under-resourced communities. Applications to apply for a spot are now open.

The other half of the funds will establish the Renaissance Scholarship Fund. BeyGood will give $1 million to colleges and universities in 10 cities across the country with each institution receiving $100,000. The institution will then select student recipients.

“We are keenly aware of the barriers to access, opportunity, and resources that disproportionately impact BIPOC communities,” McGregor said. “Our work is rooted in the belief that education, pathways for employment and support of entrepreneurship are vehicles that help drive sustainable outcomes.”

Beyoncé founded BeyGood in 2013 during her Mrs. Carter Show World Tour. Since then, the charitable initiative has donated to educational efforts, disaster relief, food, water and housing security, mental health resources and career development in the US and abroad.

“I am hugely proud of the work we have done over a decade at BeyGOOD, here in the US and around the world,” Beyoncé said in a statemetn. “From scholarships to the water crisis in Burundi, to helping families during Hurricane Harvey in my hometown, Houston, it has been beyond fulfilling to be of service.

“Now, as a foundation, we will continue the work of engaging partners through innovative programs to impact even more people,” she continued.

Help Has Arrived: The Best Funding Resources for Women-Owned Business

Business

Whether you’re looking to start a business for the first time or need additional funding for your current work, there are several places to turn to make sure your business is on the financial track to success.

Here are some of the best funding opportunities you should utilize today:

Become a Women-Owned Certified Business

Becoming an official certified woman-owned business is one of the greatest things you can do for your business. Not only will you have access to special scholarships and funding programs, but a certification could open the door to potential partnerships and contracts with big-name companies that can increase your revenue. Certifications also provide opportunities for networking, training, mentoring, counseling and many other resources that can help grow your business. You may even qualify for other business certifications (minority-owned, disability-owned, veteran-owned, LGBTQ+-owned, etc.) that would grant you even more opportunities for growth and success. Look into organizations such as WBENC, NMSDC, NGLCC and Disability:IN to see if you qualify.

The 8(a) Business Development Program

The 8(a) program can be a valuable tool for experienced socially and economically disadvantaged small business owners, who have already been in business for at least two years or more, and are interested in expanding their footprint in the federal marketplace.

Certified firms in the 8(a) program can:

Efficiently compete and receive set-aside and sole-source contracts.
Receive one-on-one business development assistance for their nine-year term from dedicated business opportunity specialists focused on helping firms grow and accomplish their business objectives.
Pursue opportunities for mentorship from experienced and technically capable firms through the Small Business Administration (SBA) Mentor-Protégé program.
Connect with procurement and compliance experts who understand regulations in the context of business growth, finance and government contracting.
Pursue joint ventures with established businesses to increase capacity.
Qualify to receive federal surplus property on a priority basis.
Receive free training from SBA’s 7(j) Management and Technical Assistance program.

The 8(a) certification qualifies your business as eligible to compete for the program’s sole-source and competitive set-aside contracts. The government authorizes sole-source contracts to 8(a) participants for up to $7 million for acquisitions assigned manufacturing North American Industry Classification System (NAICS) codes and $4.5 million for all other acquisitions.

The Women’s Business Center

Women’s Business Centers (WBCs) are a part of a national network of entrepreneurship centers throughout the United States and its territories that are designed to assist women in starting and growing small businesses. WBCs seek to “level the playing field” for women entrepreneurs, who still face unique obstacles in the business world. Run by the SBA, the WBC provides resources in business training, counseling, federal contracts and access to credit and capital. There are multiple offices in just about every state across the country. Visit sba.gov to find your local WBC.

Women-Owned Small Businesses (WOSB) Federal Contracting program

To help provide a level playing field for women business owners, the government limits competition for certain contracts to businesses that participate in the WOSB Federal Contracting program. This program is specifically designed to fund WOSBs that are surveyed as underrepresented.

There are a total of 759 businesses that fall under this category, and include industries such as:

Material specific production
Food specific production
Food specific farming
Energy specific production
Clothing specific production
Certain construction industries

If you are accepted into the WOSB Federal Contracting program, your business will be eligible to compete for the 5% of federal contracts that are set aside for these businesses. To learn more and to become certified, visit wosb.certify.sba.gov.

Grants.gov

One of the most important resources you can utilize for your business funding needs is Grants.gov. The website showcases hundreds of grants that are available for entrepreneurs and how you can apply for them. Each grant lists detailed instructions on their specific eligibility requirements, application process and funding amounts. You can also filter your search to look for grants specifically for women-owned businesses.

To search through this database, you must register for a Grants.gov Workspace account that will allow for you or other members of your team to begin filling out applications.

Non-Federal Grants

Federal resources aren’t the only way to receive grants. There are many corporations, programs and organizations that give out business grants of differing sizes every year specifically to support women-owned businesses.

Some of the grants you may want to consider include:

Eileen Fisher Women-Owned Business Grant
Amber Grant
Cartier Women’s Initiative Award
The Women of Color Grant Program
The Halstead Grant

For a more comprehensive list of non-federal grants, visit GrantsforWomen.org.

Sources: Small Business Administration, Forbes, Grants.gov

Thanks To Help From Tabitha Brown, This Black-Owned Business’ Sales Went From $200 In A Week To Over $23K

BusinessEntertainment

Tabitha Brown and husband wearing matching sweatshirts smiling

Ngozi Nwanji, AfroTech

The power of an influential social media platform has transformed this couple’s business.

Earlier in March, Tabitha Brown and her husband, Chance Brown, posted an episode of their YouTube series, “Fridays with Tab and Chance.” In the video, the two were wearing a sweater set from Brand Avenue — a marriage lifestyle apparel brand.

Within a short period of time, the Black-owned business’ revenue started booming.

Co-founded and launched in 2014 by Marc and Ima Carnelus, the two shared that prior to being featured on Brown’s channel their business had been struggling for six months. From March 3 to March 9, the brand only made around $200 for the week.

“We even considered shutting the business down altogether,” Marc openly shared in an Instagram post. “This is our main source of income and it’s been super tough.”

Ima added, “We have been praying in the midst of all that for a breakthrough, for a sign to keep going, a miracle. We’ve had people really rallying around us, supporting us, praying for us, helping us financially because we still got bills to pay. And God answered our prayers.”

A week after their flatline in sales, their business blew up overnight from the Browns’ video posting.

From March 10 to March 16, the entrepreneurs made over $23,000 — and the sales are still going up.

“This is the Tabitha effect,” Marc emphasized.

“I love this so much and it’s just another reason I can’t wait to bring back Very Good Mondays!!! So happy for you guys @brandaveclothing,” Tabitha Brown shared on Instagram. “Keep believing and keep trusting God, he got you!!!!”

Back in 2020, she started the Very Good Mondays series to feature and support small businesses.

The video that sparked Brand Avenue’s sales isn’t the first time Brown has shown love to Brand Avenue.

View Tabita Brown’s exclusive cover story in Professional WOMAN’s Magazine!

Ying McGuire Immigrated to the United States with one suitcase and $1000 to pursue the American Dream and Inject $1 Trillion into the Economy

BusinessStorieswoman-owned

As CEO and President of the National Minority Supplier Development Council (NMSDC), Ying McGuire leads efforts to advance business opportunities for more than 15,000 certified minority business enterprises (MBEs) connecting them to over 1,500 corporate members generating over $400 billion in annual revenue – more than 28% of all minority business revenue in the U.S.

NMSDC’s first Asian American Pacific Islander (AAPI) CEO and president brings over two successful decades of leadership experience across both the for-profit and nonprofit sectors and has an aspirational goal of achieving $1 trillion in NMSDC-certified MBE annual revenue generation.

NMSDC CEO and president, Ying McGuire has an awe-inspiring story of her own. Arriving to the United States from China with one suitcase and $1,000 to pursue her American dream, Ying did not have an easy path. McGuire immigrated from China during a tumultuous period in that country’s history.

“In the wake of the Tiananmen Square incident in 1989, I packed my life into one suitcase with $1,000 and came to the United States to pursue my American dream,” she recalled. “Being a new immigrant with little English, no money and no support system, I overcame mountains of obstacles, learned to get things done with limited resources and built up my resilience.”

She built a successful career as a corporate leader at Dell Technologies, driving the strategy and execution that nearly quintupled Dell’s diversity spend from $640 million to $3 billion within three years. After the murder of George Floyd in 2020, Ying felt compelled to be part of the growing social economic justice movement. She transitioned out of her tech role and became the first Asian American Pacific Islander CEO and president of NMSDC, with goals of accelerating MBEs and helping close the racial and economic wealth gap in communities of color.

Ying believes that the fastest path to achieving NMSDC’s $1 trillion plan requires a catalyst event to garner amplification and support the goal from prominent corporate C-level leaders, policymakers, high growth MBEs, thought leaders, and media. Therefore, NMSDC is hosting the second annual Minority Business Economic Forum on May 8-10, in Miami. This by invitation only event is focused on tapping into the top leaders of corporate America, the Administration, local governments, thought leaders, and academic leaders to come together and recalibrate the MBE narrative as an integral part of the American economy.

ABOUT YING MCGUIRE

Hometown: Jiangyin, a city near Shanghai, China
Hobbies: Yoga, travel, cooking, interior design
Favorite leadership quote: “Do not just lead by words; lead by example.” — Her father

To learn more about NMSDC, visit nmsdc.org.

WBEs Share Why More Women Should Get Business Certified

Business

If you’re looking to become a women-certified business enterprise (WBE), you may have a lot of questions about the process or if it’s even worth it to go through the application process?

To help you decide, the Black EOE Journal (BEOEJ) sat down with two amazing women-certified business owners — Angela Randolph, founder and CEO of Stellar Ledgers LLC and Dr. Pamela Ellis, MBA, PhD, founder of Compass College Advisory — from the Women’s Business Enterprise National Council (WBENC) who spoke about the benefits and advantages of getting certified.

Angela Randolph, founder & CEO, Stellar Ledgers LLC:

BEOEJ: What is Stellar Ledgers and how did you get started?

Angela Randolph (AR): Stellar Ledgers® (SL) is a virtual financial advisory firm that partners with clients as their business grows, offering an exceptional and value-added experience. SL offers bookkeeping, CFO/ controller, financial coaching and consulting services to business owners across the United States. The outsourced financial service we provide helps businesses improve cash flow and maximize profits as they prepare for growth and expansion. We provide the timely, accurate financial data and advice required for growth and scalability in the business. We also help prepare businesses for funding or investment opportunities.

I started the business in 2017 on the side while working full-time bootstrapping to fund operations. I am really passionate about helping fellow women entrepreneurs gain financial freedom, security and build wealth leveraging their businesses.

Dr. Pamela Ellis, MBA, PhD, founder of Compass College Advisory

BEOEJ: What is Compass College Advisory and how did it get started?

Dr. Pamela Ellis (PE): Some parents saw the success of my children and how they participated in educational programs after school and during the summers. When they asked me to help them with their children, that’s when my business started. At first, I helped those parents find the right summer programs, then the right high school, then the right colleges. I based my program off my dissertation research on high school to college transition (what supports students with navigating high school then thriving in college and completing).

Largely through word-of-mouth referrals, my business grew across the country. I met with families virtually who were in other states and opened a small office in Dayton, Ohio for locals. Our center is named Compass College Advisory.

Twelve years later, I am still partnering with parents to help their teen find the right colleges and get scholarships. The results of our work are that 95 percent of our clients have been admitted to their top-choice colleges and the average scholarship is $75,000.

BEOEJ: How did you learn about small business certifications for women and minorities? Why did you decide to pursue certification and which ones have you received?

AR: I first learned about certifications through my local Small Business Development Center (SBDC) Procurement Technical Assistance Center (PTAC) Advisor with University of Houston. I decided to pursue these certifications with plans to do business with the government, corporations and other certified businesses expanding my reach and adding multiple revenue streams to Stellar Ledgers. I am an MBE with Houston Minority Supplier Diversity Council (NMSDC), City of Houston, Metro, and a WBE through WBEA (WBENC), City of Houston, WOSB with the Small Business Administration and HUB with the State of Texas.

PE: My mom, who sharecropped and only had an opportunity to finish eighth grade, wanted me to stay home after high school. She reluctantly agreed to let me go to a college that she had never heard of. When we took the Greyhound from Memphis, Tennessee to Palo Alto, California, she gave me $70 to cover my expenses for the first year. I thought that was good money until I went to the bookstore the very next day and my books for the first quarter were $350.

I knew my mom couldn’t afford to send me anymore money. I immediately found a job and ended up working 30 hours per week during the school year and up to 100 hours per week in the summers. I had known since high school that I wanted to attend business school, so I decided to apply right after undergraduate to The Tuck School of Business at Dartmouth College. Tuck had recently started a professional development program for Black entrepreneurs. I was selected to work in that summer program before, during and after graduating from Tuck. During that experience, I learned about minority and women certifications.

When I started my business many years later, I attended every program I could find. Many of those programs were offered by the Small Business Development Center, SCORE, SBA Urban League and numerous others. The certification organizations would present during those programs and that’s how I then started to learn more about why I also should be certified.

I have received WBENC, MSDC, plus the respective state certifications and decided to do so in order to network, grow my business and develop strategic partner relationships.

BEOEJ: What were your trials and tribulations on the road to certification? How has certification helped your business?

AR: I didn’t have any issues at all with certification. I have an audit background so my records were in top shape and that made submission seamless. The certifications definitely add business credibility and more exposure to contract opportunities, development programs and fellow certified businesses who I can potentially collaborate with or who can become clients.

PE: Wearing too many hats was my biggest trial on the road to certification. Because I answered the phones, handled client delivery, tracked by books, etc., it was hard to keep up and prioritize my time. Since becoming certified, I’ve been able to participate in courses through WBENC that have helped me sharpen my hiring and delegation skills.

The certifications have opened opportunities for me to “be in the room” and gain contracts. With the certifications, my company has steadily grown over the years. Likewise, I’ve been able to participate in their professional and leadership development programs that have helped me with strategic planning, marketing and hiring. The investment has been worth every penny.

BEOEJ: What perks have you embraced from being certified, for example, have you used any of the mentors, peer-to-peer resources, financial advice, attended conferences or conventions, etc.?

Randolph: Yes, there are so many benefits to being a certified business. I’ve successfully completed business development and leadership training sponsored by the Houston Minority Supplier Development Council (HMSDC) that was invaluable, I am currently a member of cohort 41 of Leadership Houston sponsored by WBEA and so many other mentoring programs I’ve had the privilege to participate in. I’ve also led training workshops for fellow certified businesses in accounting and tax. I’ve attended conferences and conventions for both HMSDC and WBEA, both with great speakers and opportunities to network with others.

Ellis: I’ve attended conferences and special courses for continued learning and utilized the peer-to peer resources. During COVID-19, WBENC offered an amazing program called WEThrive, which gave me an opportunity to work on my business, rather than in my business, during a critical transition for us all. I received encouragement from the other participants to keep dreaming and implementing.

BEOEJ: If you could offer one piece of advice for women business owners thinking about certification, what would you say?

AR: I would definitely encourage women business owners to get certified. It can really open so many doors of development, support and opportunity. Start now by organizing your financials, tax records and business entity documentation so the process can go more smoothly.

PE: The paperwork may feel overwhelming. To get it done, block out a three-hour appointment with yourself to focus on gathering the documents, put on some energizing, feel-good music and get it done. The hardest part is getting started. Once you do so, it’s not so bad. Plan ahead for the notary. Keep digital copies of all the documents you upload. Mark your calendar for nine months away to renew, so that your certification remains current. It’s all worth it. You’ve got this!

To read more from from Black EOE Journal and other diversity-focused publications visit, diversitycomm.net

Licenses and Permits: Everything You Need to Know

Business

Most small businesses need a combination of licenses and permits from both federal and state agencies. The requirements — and fees — vary based on your business activities, location and government rules.

Here are the basics of what you need to know:

Federal Licenses and Permits

You’ll need to get a federal license or permit if your business activities are regulated by a federal agency. If your business deals with the transport, production, sales or dealings of any of the following products, you will have to obtain a specific permit from a specific federal agency. This includes business activities such as:

Agriculture: Business practices that deal with the import or transport animals, animal products, biologics, biotechnology or plants across state line
- Issuing Agency: U.S. Department of Agriculture
Alcoholic Beverages: Business practices that deal with the manufacture, wholesale, import and/or sales of alcoholic beverages at a retail location
- Issuing Agency: Alcohol and Tobacco Tax and Trade Bureau, Local Alcohol Beverage Control Board
Aviation: Business practices involving the operation of aircraft, transportation of goods or people via air or aircraft maintenance
- Issuing Agency: Federal Aviation Administration
Commercial Fisheries: For businesses engaged in commercial fishing of any kind
- Issuing Agency: National Oceanic and Atmospheric Administration Fisheries Service
Fish and Wildlife: For businesses engaged in any wildlife related activity, including the import or export of wildlife and derivative products
- Issuing Agency: U.S. Fish and Wildlife Service
Maritime Transportation: For businesses providing ocean transportation or facilitate the shipment of cargo by sea
- Issuing Agency: Federal Maritime Commission
Mining and Drilling: For businesses engaged in drilling for natural gas, oil or other mineral resources on federal lands
- Issuing Agency: Bureau of Safety and Environmental Enforcement
Nuclear Energy: For businesses producing commercial nuclear energy, is a fuel cycle facility or is involved in distribution and disposal of nuclear materials
- Issuing Agency: U.S. Nuclear Regulatory Commission
Radio and Television Broadcasting: For businesses dealing in broadcasting information by radio, television, wire, satellite or cable
- Issuing Agency: Federal Communications Commission
Transportation and Logistics: For businesses operating oversize or overweight vehicles.
- Issuing Agency: Permits are issued by your state government and can be reached through the U.S. Department of Transportation.

In-State Licenses and Permits

The licenses and permits you need from the state, county or city will depend on your business activities and business location. Your business license fees will also vary.

States tend to regulate a broader range of activities than the federal government. For example, business activities that are commonly regulated locally include auctions, construction, dry cleaning, farming, plumbing, restaurants, retail and vending machines.

Some licenses and permits expire after a set period of time. Keep close track of when you need to renew them — it’s often easier to renew than it is to apply for a new one.

What You’ll Need

Depending on the licensing you need, your license qualifications will differ. However, just about every license and/or permit requires that you have the following documentation:

Your business description or business plan that includes:
- Employee numbers
- Annual sales
- Job description
- Contact information for the business owner
- Other pertinent business information
Government ID, including your Social Security Number or Federal Employment Identification Number
Fees (varies by state)
LLC registration, for businesses structured as one. Having your LLC is not the same as having your business license, although they often compliment one another.

For more information on what you need for your specific business license, visit sba.gov/business-guide/launch-your-business/apply-licenses-permits#section-header-0.

Sources: Small Business Administration, Collective.com

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