10 Takeaways from the 2023 WBENC National Conference!

This year was Symba ’s first time attending the WBENC National Conference, and it was truly an inspiring event, with over 5,000 women entrepreneurs and corporate leaders excited to connect and support each other. With a diverse range of speakers, educational programming, and networking opportunities, Nikita Gupta and I learned from experts in the field, discovered innovative best practices, and celebrated the incredible accomplishments of women-owned businesses.?

Here are 10 takeaways from the conference:

1.Women-owned businesses are critical to our economy. According to a study by American Express , women-owned businesses in the US generated over $1.9 trillion in revenue and employed over 9.4 million people in 2020.

“WBEs are critical to driving new sources of revenue, identifying innovation and growth opportunities and contributing to important environmental and social governance goals and initiatives,” said WBENC President and CEO Eason, Pamela (Prince-Eason) in a recent press release .

2. Supporting women-owned businesses is a key business objective for many companies. For example, 沃尔玛 has set a goal of spending $350 billion over the next decade with diverse suppliers.?

& here's what these's CEOs have to say:

"We're continually building on our approach to inclusion and diversity for our people, in the way we do business and in the communities in which we operate." - Emma Walmsley , CEO 荷商葛蘭素史克藥廠

3. The WBENC certification is a valuable tool for women-owned businesses, providing them with access to new opportunities and resources to help them succeed. In fact, according to WBENC, women-owned businesses that are certified through their program are more likely to win contracts and secure new business opportunities. Check out the extensive list of partners here !

4. Corporate leaders are recognizing the value of working with women-owned businesses.

"Our world-class community of diverse suppliers plays an integral role in helping us reshape health care in America, making it simpler, more convenient, and more personalized. Their expertise and unique perspective on our business ensure we deliver products and services that meet our customers’ needs. When we invest in these suppliers, we help create jobs and provide equal opportunities for businesses that represent the diversity of our colleagues, customers and the communities we serve." - Karen S. Lynch , President and CEO, CVS Health

According to WBENC, more than 1,000 corporations in the US have committed to spending over $1 billion each year with women-owned businesses. 可口可乐公司 featured below!

5. Collaboration is key to success in business. Through productive Meet & Greets and other networking opportunities, we were able to connect with other women entrepreneurs and corporate leaders to explore potential partnerships and collaborations.

Our team had the amazing opportunity to connect with supplier diversity leaders at Dennis Thurston and William D. at Southern California Edison (SCE) Edison, Aflac , Travis Spencer and LaTara Brown at the 福特 , Debbie Grossman at 施耐德电气 , Fannie Mae , Donovan Casanave at 壳牌 , 希尔顿全球酒店集团 , 雪佛龙 and Ashwini Haldankar & Robyn Best at 强生公司 at these Meet & Greet events and expo!

6. Get laser focused on the industry you serve and market your case studies effectively. During Industry Day, we learned how innovation is essential for staying competitive in today's fast-paced business world in sectors like energy and insurance. We learned about the latest trends in these industries and got best practices for staying innovative through dynamic educational programming.

7. Always be ready to pitch and tell your story! The Collegiate Accelerator pitch competition was a great opportunity for up-and-coming women entrepreneurs to showcase their ideas and receive valuable feedback from experienced judges.

8. Women entrepreneurs should never be afraid to ask for help. Many companies host mentorship programs for diverse businesses. Mentorship and support from other women entrepreneurs and corporate leaders can be invaluable in helping women-owned businesses grow and thrive. Just as an example, check out Chase’s Curated Coaching for Entrepreneurs program !

9. Celebrating the accomplishments of women-owned businesses is important. The conference included a variety of celebrations and fun activities to recognize the achievements of women entrepreneurs. The startup journey takes a ton of hard work, and it’s important to celebrate wins! Shout out to the 2023 WBE Stars who were recognized live at the conference.

10. The future is bright for women-owned businesses. With a growing network of support, increased access to resources and opportunities, and a commitment to diversity and inclusion, women entrepreneurs are poised for continued success. In fact, according to the National Association of Women Business Owners, women-owned businesses are growing at a rate of 58% compared to the national average of 12%.

The 2023 WBENC National Conference was a fantastic opportunity for women entrepreneurs and corporate leaders to come together to connect, learn, and celebrate the incredible accomplishments of women-owned businesses. We look forward to seeing the continued growth and success of women entrepreneurs in the years to come!