The National Minority Supplier Development Council (NMSDC) and The BOW Collective (BOW), signed a strategic partnership alliance agreement on April 16th aimed at increasing the economic opportunities for Black Women-Owned Businesses.
The goal of this MOU is to collaborate through events, data collaboration and corporate relationships focused on industries that facilitate businesses with capacity to be a corporate supplier. Specifically, with more than 20+ industries represented in BOW, such as IT products and services; human capital, marketing, healthcare consulting, logistics, construction management, events management and more, BOW and NMSDC will curate opportunities that will bring BOW Collective members and NMSDC corporate partners together.
Moreover, BOW Enterprises, as a prime contractor, has an extensive internal supplier management process and by Q2 of 2025 will have revenues exceeding $25M annually. NMSDC’s corporate partners can also contract with BOW Enterprises (BE) as a prime through procurement vehicles, like Master Service Agreements and deploy a larger volume of contracts to BE who has more capacity to perform.
According to the memorandum of understanding signed by both organizations, NMSDC and BOW Collective agreed to engage in the following activities:
- ADVOCATE for common economic interests of BOW Collective and NMSDC members that will allow for the two organizations to address and promote governmental policies related to business and economic growth.
- COLLABORATE by forming a strategic partnership to promote MBEs and Corporate partners both domestically and internationally by fostering innovative approaches to address business growth in the global marketplace as a united front.
- GROW NMSDC certified MBEs and BOW Collective members to create and grow intergenerational wealth in the underserved communities.
- FACILITATE joint events, programs, seminars, workshops, meetings, and discussions to create opportunities for commerce-driven activity.
- ENGAGE the diverse memberships of both organizations, while opening doors with both public and private companies and governmental institutions for both members.
- SHARE best practices, knowledge, and experiences necessary to advance each organization’s mission, vision, purpose, and motto to help achieve this strategic relationship’s goals and objectives amongst respective members, clients, program participants, key stakeholders and other strategic partners affiliated with this coalition.
“Through events, data sharing, and shared networks, we aim to cultivate collaboration that drives revenue growth for black women-owned businesses,” said NMSDC’s Senior Director for Global Partnerships & Business Services, Jetheda Hernandez. “We want to curate opportunities that will bring BOW Members and NMSDC corporate partners together.”
“When business owners focus on delivering innovation and excellence to their customers, we all win,” said Nic Cober, Partner, Cober Johnson & Romney, PLLC. “However, when organizations like NMSDC and The BOW Collective unite to inject new strategies and solutions into the economy, America wins. More jobs, more revenue, and more economic wins will be the result of the landmark MOU. Let’s get to work.”
This agreement is a part of NMSDC’s continued effort to build a strong network of advocates for the communities it serves as it accelerates minority business enterprise (MBE) growth on its march to $1 trillion in annual revenue for NMSDC-certified MBEs.
About BOW
The BOW Collective is an organization of more than 300 of the Nation’s top small business owners, in 26 states with more than 23 industries and who generate more 1.6B in annual revenues. These Black women owners work together to strengthen the capacity of their businesses via capital, contracts and by building a trusted community. Since 2022, not only has the organization grown by more than 500%, nearly 40% of member businesses have grown their revenues by more than 20%. Learn more at www.thebowcollective.org.
