Negocios Now

www.negociosnow.com 16 Octubre 2020 NegociosNow NegociosNow By Arianna Hermosillo E ven in the midst of a pan- demic, civil unrest and an election year, the Chicago Minority Supplier Development Council (MSDC) has a job to do. "We are so necessary right now," says J. Vincent Williams, its new President and CEO. In part that's because someo- ne needs to ensure that major companies and government entities act on the business case for hiring companies owned by people of color, but also in part because of the pandemic's impact on these businesses. From February to April of 2020, 41% of Black-owned small busi- nesses, 32% of Latinx-owned small businesses and 26% of Asian-owned small businesses stopped operating compared to only 17% of white small busi- nesses.1 In light of this, Williams wants to send a clear message to cor- porate decision makers: "If you're not doing business right now with a minority owned business you are missing out." Challenging Senior Leaders to Diversify The push for diversifying cor- porate and government supply chains is not a new practice. It gained traction in response to the inequality that the Civil Rights Movement of the 50s and 60s brought to light.2 The Chicago MSDC was started in 1968.3 While that period helped introduce supplier diversity in the U.S. it would take time for businesses to understand the business case for it. Research and studies have since proven that including underrepresen- ted suppliers in the supply chain has many business benefits including making supply cha- ins more agile2, meeting ethical consumer expectations, increa- sing sales, reaching diverse cus- tomers and driving innovation.4 Because of this year's pande- mic, businesses across the board have had to get creative with their supply chains. Williams sees the unprecedented dis- ruption as an opportunity for senior leadership at major com- panies to take heed and pursue minority-owned businesses. He says the decision needs to come from CEOs. "You have the con- trol to say, 'We're not diversified enough. Change it.'" Pivoting during a Pandemic Without the ability to hold in- person meetings and make con- nections face-to-face, advoca- ting for supplier diversity looks different these days. To continue serving its nearly 1,000 certified Black-, Latinx-, Native Ameri- can- and Asian-owned busi- nesses the ChicagoMSDC has moved programming online. Its 53rd annual Chicago Business Opportunity Fair and 2020 U.S. Diaspora Investment and Trade Deal Event to connect the Afri- can Diaspora and Africa were both held virtually. The ChicagoMSDC is also offering digital matchmaking so its Minority Business Enter- prises (MBEs) can connect with a company's buyers and procurement officers. MBEs choose who they want to learn more about and can set up their own private virtual mee- tings. Planning for 2021 Looking ahead to 2021, Williams says that techno- logy is definitely part of the ChicagoMSDC's strategic plan- ning. Other goals include: Rating system: A rating sys- tem is in the works to grade businesses and develop those that need more attention and support. Community presence: He wants to create a presence out- side of downtown with satellite offices in several Chicago neigh- borhoods and even the suburbs, too. Filling gaps. Williams wants to identify industries that the ChicagoMSDC has low numbers in. "I have the opportunity to take and cultivate smaller busi- nesses so that we have a larger representation in that industry," he says. Collaboration: William envisions an ecosystem in which minority-owned businesses are also working and supporting one another, too, in addition to gaining access to larger corpo- rations. Bilingual services: Making the certification application and the ChicagoMSDC's webinars and courses available in Spanish is also on the new agenda. Building a Legacy Williams's passion for advo- cating for businesses is rooted in his past. His family owned a rollerink in the Roseland neigh- borhood called Rollerena in the late 1970s. He fondly remembers it, but also recalls that his family did not want to be known as a black-owned business because they feared that suppliers and vendors would deny them pro- ducts and services. Now Williams is dedicated to helping businesses proudly identify as Black-owned and hopes his legacy is that he ensu- red that minority businesses were heard, valued and appre- ciated. To learn more about the ChicagoMSDC visit chicagomsdc.org. "Y ou have the control to say, 'We're not diversified enough. Change it.'" New Leadership for the Supplier Diversity Cause The newly appointed President and CEO for the Chicago Minority Supplier Development Council is seeing the organization through unprecedented times. Foto cortesía J. Vincent Williams, new President and Chief Executive Officer of Chicago Minority Supplier Development Council

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