In an increasingly diverse and competitive business landscape, certification as a veteran, woman, Indigenous, or Black-owned business can connect a merchant with new and unique opportunities.
Certification often opens the doors to networking opportunities and mentorship programs specifically designed for businesses who have sought out these certifications. These networks can provide invaluable support, guidance, and access to potential collaborators or investors. Business owners and leaders can connect with like-minded individuals who understand the unique challenges and opportunities faced by businesses in these categories.
Early funding is a key to growing a business and some lending institutions offer financing options for businesses led by a veteran, woman, Indigenous or Black entrepreneur. In Michigan, Huntington Bank has created Huntington’s Lift Local Businesses program that supports minority-, woman-, and veteran-owned small businesses throughout the business life cycle — from start-up to expansion. The program offers loans, business planning support, free financial entrepreneurial courses, and other services to help small business owners achieve their goals.
Michigan women entrepreneurs can also apply for a MicroLoan through Michigan Women Forward. The loans range from $2,500 to $50,000 and can be used for start-up and continuing business expenses for business owners unable to get a loan from a traditional lender.
Certification can also enhance a business’ reputation and brand image. Being certified as a veteran, woman, Indigenous , or Black-owned business can be a valuable marketing tool that resonates with socially conscious consumers. It can also help differentiate a business in a crowded marketplace, leading to increased customer loyalty and trust.
Certification often comes with access to educational and training programs tailored to the unique needs of businesses in these categories. These programs can help entrepreneurs and business owners acquire essential skills and knowledge to navigate challenges and seize opportunities in their respective industries.
Certified businesses are often listed in directories and databases that procurement officers, government agencies, and corporate partners use to identify potential suppliers. This increased visibility can lead to more business opportunities and partnerships, helping grow and expand their customer base.
Being certified can also lead to increased support from local communities and advocacy groups. Certified businesses are seen as contributors to economic empowerment and diversity, and they often receive backing from organizations and community leaders that promote their success.
Certification as a veteran, woman, Indigenous, or Black-owned business can be a game-changer for entrepreneurs and small business owners. It opens doors to corporate partnerships, access to capital, networking opportunities, and much more.
Resources
Indigenous or Native American-Owned
MSHDA Application for Minority-Owned (MBE) and Women-Owned (WBE)
Huntington Bank’s Lift Local Business Program
Michigan Women Forward Application
