NMSDC Responds to U.S. Department of Commerce’s RFI Regarding Business Diversity Principles

Photo of the U.S. Department of Commerce Office.

Today, NMSDC submitted comments to the U.S. Department of Commerce’s (DOC) Request for Information regarding the Business Diversity Principles (BDP). On Nov. 29, 2023, the DOC published a notice entitled “Request for Information (RFI) on Business Diversity Principles” in the Federal Register. This RFI invited comments from the public on the draft Business Diversity Principles (BDP), which describe best practices related to diversity, equity, inclusion, and accessibility (DEIA) in the private sector, and on the impact of DEIA initiatives. DOC sought input to inform the content of the BDP, share success stories and best practices related to Business Diversity, and comment on the impact of DEIA initiatives.

An excerpt from NMSDC’s comments is below:

The National Minority Supplier Development Council respectfully submits the following comments in response to the Department of Commerce’s Request For Information (RFI) regarding the Business Diversity Principles (BDP). NMSDC values the opportunity to submit feedback on the BDPs and looks forward to continued partnership and engagement with the Department on this issue.

For over 50 years, NMSDC has been the leading organization in promoting minority business advancement. NMSDC is a national organization with 23 regional councils and has advocated access to the American dream for minority business enterprises (MBEs). NMSDC success is historic and unmatched. Over 16,000 MBEs have been connected to more than 1,700 corporations, resulting in over $482 billion in economic output annually.

We believe deeply that diverse business practices are critical if we are going to continue to be competitive and successful as a nation. This administration’s commitment to racial equity is a noble one, and towards that end, and hearing directly from minority leaders in the business sector is key to achieving those goals. We are grateful for the opportunity to engage in this way and support in achieving equity for all.

To what extent are each of the Business Diversity Principles aligned with your organization’s current practices? Which of the Principles represent the greatest growth opportunity for your organization or private sector organizations overall?

The NMSDC network includes 16,000 NMSDC-certified MBEs and nearly 1,700 corporate members (representing over 95% of all Fortune companies) committed to strengthening diversity, equity, and inclusion (DEI) in their business practices and contracting and procurement. NMSDC’s network accounts for $136.4 billion in total wages earned and sustains 1.75 million jobs. NMSDC is the nation’s largest, most impactful, and successful nonprofit advocacy organization for MBEs, proving growth for MBEs is growth for all.

For NMSDC or similar organizations, a significant growth opportunity might lie in expanding digital platforms for greater access and visibility of minority suppliers, enhancing training and development programs, and advocating for policy changes that favor minority business inclusion.

NMSDC works with companies to provide insight into the gap areas within their supply chains that might provide opportunities for MBEs to win contracts related to the IIJA, IRA, CHIPS & BEAD, and other government programs. These companies include Amazon, IBM, Intel, Microsoft, as well as other members of the Billion Dollar Round Table. Procurement leaders from these companies have indicated their supplier needs and how NMSDC can help them meet internal DEI goals within their supply chain as well as DEI mandates issued by the federal government.

You can read a copy of the full comments here.

Related News

Receive NMSDC Communications

Don’t miss any opportunities to grow, develop, and connect your business to the NMSDC Network of opportunities. Sign up today!