Category: Local Incentives, Business Expansion
AGENCY: National Minority Suppliers Development Council (NMSDC) or Small Business Administration (SBA)
DESCRIPTION: The primary objective of the National Minority Supplier Development Council is to provide a direct link between corporate America and minority-owned businesses. The Minority and Women-Owned Business Vendor-Partner Program facilitates the process of providing goods and services for sale in Wal-Mart, Sam’s Club, and McLane Company stores.
PROGRAMS AND SERVICES:
• Certification of minority business enterprises (Asian, Black, Hispanic and Native American) after screening, interviews and site visits.
• MBISYS®, a national computerized database of more than 15,000 certified minority suppliers.
• Referrals to corporate buyers of minority suppliers capable of providing quality goods and services at competitive prices, and in a timely fashion.
• Working capital loans and access to specialized financing to certified minority businesses which have supplier / vendor relationships with NMSDC national and regional corporate members, through the Business Consortium Fund, as well as longer-term financing through Triad Capital Corporation, the BCFs Specialized Small Business Investment Company (SSBIC), and professional consulting services through BCF Business and Financial Advisory Services, Inc.
• Educational seminars, training and technical assistance for buyers and suppliers to assist in personal and professional growth.
• Advanced Management Education Program, customized executive education, with highly intensive training and technical assistance for CEOs of minority-owned firms.
• Networking opportunities, organized by purchasing categories, at which suppliers speak directly to appropriate purchasing agents.
• Minority and women-owned businesses must be certified to participate by nationally certified agencies such as the National Minority Suppliers Development Council or the Small Business Administration (8A) Program. Certification requires at least 51% minority or female ownership, control or operation.
• Price structure, product competitiveness, deliverability, lead time, packaging/labeling, and quality assurance and testing are considered when selecting new goods and services:
• In addition, the prospective vendor-partner must:
• Be financially sound;
• Be willing to enter into a legal agreement with Wal-Mart;
• Meet insurance requirements; and
• Become a member of the Universal Product Code Council.
• Visit the homepage at http://howtosellyourproducttowalmart.com/walmartlocalvendorprogram.htm.