Negocios Now

www.negociosnow.com Febrero 2020 19 NegociosNow NegociosNow By David Steinkraus S upplier diversity will get a big boost in April at the annual Chicago Business Opportunity Fair. "The concept of supplier diversity as we know it came out of this organization," said Phillip Barreda, interim presi- dent of the Chicago Minority Supplier Development Cou- ncil Inc. The fair was formed by corporate and communi- ty leaders in 1969 to provi- de hope in reaction to the civil disturbance at the 1968 Democratic National Conven- tion in Chicago. Even after more than 50 years, minority business enterprises (MBEs) still face rules that inhibit their suc- cess, Barreda said. For exam- ple, many municipalities limit MBEs to contracts of less than $40 million. That prevents MBEs from growing or being able to eventually compete with multi-billion-dollar com- panies, he said. So the oppor- tunity fair is all about building scale, which could mean for- ming partnerships with other MBEs as a quick way to build capacity, Barreda said. "You'd be surprised at how well this can work. Large busi- nesses do it all the time," he said. Chicago Business Opportunity Fair Navy Pier When: April 9 Time: 9:00 am For more information on the fair, visit: http://www.chicagomsdc.org BUSINESS FAIR DRIVES SUPPLIER DIVERSITY Foto cortesía Corporate representatives and vendors come together at Chicago Business Opportunity Fair to be held at Navy Pier in Chicago. Foto cortesía Mark Hand, (left) from Federal Reserve Bank of Chicago, and Phillip Barreda, VP of CMSDC. What, when, where The 53rd Chicago Business Opportunity Fair will be held on April 8 and 9 at Navy Pier in Chicago. The event opens at 8:30 a.m. on April 8. This is a day of workshops on topics such as expanding contracting opportunities and increasing business competency. This is also a day for one- on-one meetings with corpo- rations. The approximately 50 corporations participating will select about 200 potential suppliers for 15-minute talks about the corporations' needs in the next six to 18 months. A formal gala ends the day. The trade fair is on Thurs- day, and if a supplier wasn't selected for a one-on-one session, they have an oppor- tunity to talk with company representatives at the fair. Corporate strategy Corporations are starting to work with MBEs as part of an overall strategy instead of as a set of discrete transactions, says Mark Hands, current chair of the development council's board and manager of the supplier diversity program at the Federal Reserve Bank of Chicago. Most important, he said, is that corporations are increa- singly interested in creating community impacts. Diversi- ty will do this, Hands said, because when MBEs are suc- cessful, there is an economic effect on their communities. Corporations are also now interested in having larger and fewer suppliers, he said. "Sometimes that's a direct conflict with what we want to do," he said. Corporations also expect those suppliers to do more. So the task, again, is building capacity in MBEs so they can successfully compete to pro- vide services, he said. The fair is also an opportu- nity for the minority business community to connect with the development council. This is the only Chicago organiza- tion that certifies companies as minority business enter- prises for the private sector, Barreda said, and the certifica- tion is good across the country. It's also a good time for the council to listen to people and ask what their needs are, Hands said. Presenting Diamond Platinum Benefactor

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