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WELLS FARGO, NMSDC ANNOUNCE ‘MINORITY BUSINESS LEADERSHIP ACADEMY’S COLLABORATION TO EXPAND CAPABILITIES OF MINORITY SUPPLY EXECUTIVES

In 2019, Wells Fargo and the National Minority Supplier Development Council (NMSDC) will collaborate in three “Minority Business Leadership Academies,” to train minority suppliers on how to expand their capabilities. These Minority Business Leadership Academies will be hosted in Washington, D.C. by the Capitol Region MSDC, Los Angeles by the Southern California MSDC, and Houston by the Houston MSDC.

“Wells Fargo is committed to supplier diversity and developing diverse suppliers across the country. In 2018, Wells Fargo spent $1.36 billion with diverse suppliers. We’ve invested in nine capacity building programs across the country, which will help more than 500 diverse suppliers in the upcoming year,” said Regina Heyward, head of Supplier Diversity for Wells Fargo.

“NMSDC is able to extend its support of minority supplier development through innovative partnerships with our corporate members,” said NMSDC President and CEO Adrienne Trimble. “Minority-owned businesses nationwide employ 6.3 million people and generate annual revenue of more than $1.6 trillion. Wells Fargo consistently demonstrates its strong commitment to our supplier diversity programs that serve NMSDC-certified minority-owned businesses.”

The goals of the Minority Business Leadership Academy are to build the value proposition for each minority business owner; to enhance best practices in business development, organizational capabilities and scalability; to foster greater readiness to meet industry needs; and to increase competitiveness when seeking contracts and opportunities in the global marketplace.

Beginning in the first quarter of 2019, Wells Fargo Supplier Diversity will sponsor three Minority Business Leadership Academies in collaboration with NMSDC. Through a grant from the Wells Fargo Foundation, NMSDC will administer the Minority Business Leadership Academy program and be responsible for selecting three grantees from its regional Minority Supplier Development Councils to run each year-long academy. NMSDC will ensure this program is fully vetted with developed plans of action for each of the funded Minority Business Leadership Academies.

In 2016, Wells Fargo in collaboration with NMSDC’s regional Supplier Diversity Development Councils, piloted the Minority Business Leadership Academy project to help grow certified MBEs. In 2017, more than 80 minority business CEOs graduated from five Minority Business Leadership Academies.

The Minority Business Leadership Academy is a one-year commitment, in one of three regional classes, comprised of 15-20 qualifying applicants. At the end of the 12-month training process, each participant will deliver an end-of-year report that tracks growth and success of the program.

In the Minority Business Leadership Academy’s business development training, attendees will have:

  • Quarterly sessions (half-day in-person training sessions)
  • Bi-monthly group sessions
  • Corporate mentoring
  • 1:1 executive coaching
  • Peer-to-peer mentoring
  • A suite of program action items and timelines (i.e., documented milestones and accomplishments)
  • Tools and resources
  • The opportunity to obtain NMSDC certification

To qualify for consideration, MBEs must represent a mid- to large-size business (with at least $3 million in annual revenues). They must have a track record of high performance, offering quality products and services at market-competitive pricing. Each applicant’s business plan will be considered, to confirm financial solvency and positioning for growth. Preference will be given to current Wells Fargo suppliers and NMSDC-certified MBEs.

 

About NMSDC

The NMSDC advances business opportunities for certified minority business enterprises (MBEs) and connects them to corporate members. One of the country’s leading corporate membership organizations, NMSDC was chartered in 1972 to provide increased procurement and business opportunities for minority businesses of all sizes. The NMSDC network includes a National Office in New York and 23 affiliate regional councils across the country. The network also includes five international partner organizations located in the United Kingdom, Canada, Australia, China and South Africa.

To meet the growing need for supplier diversity, NMSDC matches its more than 12,000 certified minority-owned businesses to our network of more than 1,750 corporate members who wish to purchase their products, services and solutions. NMSDC, a unique and specialized player in the field of minority business enterprise, is proud of its unwavering commitment to advance Asian, Black, Hispanic and Native American suppliers in a globalized corporate supply chain. For more information, visit www.NMSDC.org.

About Wells Fargo

Wells Fargo & Company (NYSE: WFC) is a diversified, community-based financial services company with $1.9 trillion in assets. Wells Fargo’s vision is to satisfy our customers’ financial needs and help them succeed financially. Founded in 1852 and headquartered in San Francisco, Wells Fargo provides banking, investment and mortgage products and services, as well as consumer and commercial finance, through 7,800 locations, 13,000 ATMs, the internet (wellsfargo.com) and mobile banking, and has offices in 37 countries and territories to support customers who conduct business in the global economy. With approximately 262,000 team members, Wells Fargo serves one in three households in the United States. Wells Fargo & Company was ranked No. 26 on Fortune’s 2018 rankings of America’s largest corporations. News, insights and perspectives from Wells Fargo are also available at Wells Fargo Stories.

Adrienne Trimble FAQ

  1. Tell us more about our new president. With a proven HR background, she is equipped to build and lead our efforts with a strong and effective national staff. As a former corporate Supplier Diversity leader, she understands the corporate drivers for our organization and will bring invaluable insight to help MBEs grow.
  2. When will she assume office? August 1, 2018.
  3. What is Toyota’s role? We appreciate Toyota’s support of NMSDC. Other than their regular work as an NMSDC corporate member, Toyota will not be involved in council business.
  4. Will our new president be based in our New York office? Yes.
  5. Who was involved in the selection process? The Executive Committee and a Search Committee that worked with a certified WBE search firm.
  6. Will the new President be allowed to make decisions (e.g., hiring, programming, etc.)? The new president will assume all roles and responsibilities of president.  She is not in an interim capacity.  She will drive all aspects of the organization, including but not limited to, revamping processes, designing new programming, overseeing all operational functions, selecting and leading a strong national staff, and working with the board and affiliates to create and implement strategy.
  7. What is the board doing to foster an inclusive culture? Our board is committed to NMSDC’s success; as such, we are revamping our governance process to ensure we are representative of various constituents, and actively encouraging new, diverse perspectives to fulfill our mission.
  8. Why wasn’t our interim president selected as a permanent one? Louis Green is an MBE who assumed this role on an interim basis. We are grateful to Louis, his family and employees for their flexibility and help in adding stability to the organization during this time.
  9. Is there a transition period with Louis Green? Louis remains on board to assist Adrienne through October.
  10. Is there a strategy at NMSDC? We continue to strategically approach our goals of serving our corporate members, developing and driving growth for MBEs and effectively communicating our brand and value, while expanding our overall reach and impact. Adrienne will work with our Strategic Planning Committee to finalize the strategy that has been created by a cross-functional group of network leaders.
  11. How can corporate members and MBEs contribute to the success of the organization? First, thank you for your support of this great organization. We ask that you continue to work with our affiliate and national staffs to share your input and drive programming that creates more opportunities to grow and develop MBEs.

 

If you are asked questions that are not listed, we ask that you email Vice-Chair Sid Johnson at sidney.johnson@aptiv.com who can assist in providing a response.

History of Supplier Diversity for Minority Business Development

Empowering Minority Entrepreneurs: NMSDC Survey

Empowering Minority Entrepreneurs: NMSDC Survey

  • NMSDC is conducting this survey of our certified MBEs in collaboration with researchers at Columbia Business School.  We want to learn more about your perspectives as a minority entrepreneur. Share your experience about the barriers and challenges you experience on this short survey. Your feedback matters!
  • The Empowering Minority Entrepreneurs: NMSDC Survey is anonymous and should take about 15 minutes to complete.
  • This survey is to be completed in one sitting – you will not be able to save your responses or start again where you left off on a different device.
  • Please note that you may also complete the survey on your smart phone, tablet device, or computer. Thank you for your contributions.
  • Please click the link below to complete the survey: https://emory.qualtrics.com/SE/?SID=SV_4Mi9RqOil3g9u5v

 

Thank You PAR Participants

Thank You PAR Participants

We thank our national corporate members who have responded to our request to submit their Purchasing Activity Report (PAR).  The response has been unprecedented, but we are still eager to hear from all of our corporate members.

PAR allows NMSDC to aggregate annual minority business purchasing data from our corporate members to form a powerful benchmarking tool. Utilizing this instrument allows us to monitor our efforts to ensure contracting parity for our certified suppliers as well as to recognize the collective results achieved by our corporate members.

To achieve our goal of effectively disseminating accurate information to our membership, we still need full cooperation from our network.  If you have not had a chance to complete and return your 2014 purchasing report, please contact:

Felicia Fleming (212) 944-2430 x 131

Felicia.Fleming@NMSDC.org

Download (PDF, 190KB)

NMSDC IMPACT 2015

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On March 3 and 4, NMSDC launched IMPACT 2015, a two-day event hosted by Time Warner Inc. featuring knowledge sharing, networking, updates on exciting new initiatives and a focus on our NMSDC certified women business owners. IMPACT 2015 was a  highly-interactive event for national corporate members, MBEs and women-of-color entrepreneurs.  It brought together experts including Dr. Katherine W. Phillips, Senior Vice Dean at Columbia University, Erika V. Hall, PhD, Assistant Professor of Organization and Management at Emory University, CPOs, supplier diversity professionals and business owners to discuss the challenges and opportunities facing minority businesses.

The panels, presentations and discussions were complemented by a survey for the minority women business owners. We will continue to explore these topics as well as collect essential data as IMPACT 2015 events will be held throughout the country in 2015 and beyond to 2016.

1-Clint Grimes

Clint Grimes
Time Warner Inc.
NMSDC IMPACT 2015 Sponsor

02-Ellen-Blau

Ellen Blau (left)
Blau Office Furniture, Inc.

Raghu M. Nandan (right)
Soltrix Technology Solutions, Inc.

03-Joy-Wong

Joy Wong (left)
New York Life Insurance Company

Keith Hines (right)
PricewaterhouseCoopers LLP

4-Ben Jungreis

Ben Jungreis
Colgate-Palmolive Company

5-Leslie McFarland

Leslie McFarland (left)
21st Century Expo Group

Jere C. Eaton (center)
Printibilities, LLC

Ellen Blau (right)
Blau Office Furniture, Inc.

6-Attendees

Attendees at NMSDC Empowering Minority Women Suppliers Focus Group

7-Reggie Layton

(From left)
Reginald Layton – Johnson Controls, Inc.

Elisabete Miranda – CQ Fluency

Ranjini Poddar – Artech Information Systems, Inc.

Armentha “Mike” Cruise – The Aspen Group, Inc.

Beverly A. Jennings – Johnson & Johnson

Dr. Katherine W. Phillips – Columbia University

8-Ellen Blau

Ellen Blau
Blau Office Furniture, Inc.

9-Dr. Katherine Phillips

Dr. Katherine W. Phillips (left)
Columbia University

Erika V. Hall PhD(right)
Emory University

10-Adam Walker

(From left)
Adam Walker – Summit Container Corporation

George Ehrgott – Communications Test Design, Inc.

Janice Acevedo – Al Mar Housekeepers, Inc.

Fred Lona – Hilton Worldwide

SBA Lending Spurs Growth in Connecticut

SBA Lending Spurs Growth in Connecticut

SBA executive says the agency’s lending gains in Connecticut prove that small firms are spearheading growth in the area.

Amid the bellwethers pointing to Connecticut’s improving economy, Seth A. Goodall, the Small Business Administration’s top regional boss, says the SBA’s sponsored-lending gains in this state the past year are profound proof that small firms’ are spearheading that growth.

In the fiscal year just ended on Sept. 30, SBA guaranteed 536 loans to new and existing Connecticut businesses, up 7 percent from 502 in fiscal 2013, Goodall said. Although the $181.2 million in fiscal 2014 lending was flat vs. the $182.6 million a year earlier, it’s who is borrowing that stands out, Goodall said.  Click here for the full article.