What is supplier diversity?
Supplier diversity is a business strategy that seeks to provide inclusive purchasing practices by engaging small and diverse businesses, including but not limited to those owned by ethnic minorities, women, veterans, people with disabilities and members of the LGBTQ+ community.
The benefits of supplier diversity
Supplier diversity is vital for driving innovation, expanding into new markets and fostering a more equitable business climate. It’s also a meaningful tool for economic growth and job creation—especially in often-overlooked communities.
Companies with large supply chains wield a powerful tool for good. Since 2019, JPMorganChase has been a proud member of the Billion Dollar Roundtable (BDR). We work alongside the most prominent companies in the U.S. to narrow gaps in wealth, health, technology and sustainability.
Our suppliers are only the first step along the supply chain; as those businesses buy goods and services from their own small and diverse suppliers, the stimulus gets amplified across the economy.
Below, small and diverse suppliers—and businesses interested in working with them—can find additional content to inform and inspire their pursuit of mutually beneficial partnerships.
Supplier diversity certification
Supplier diversity is a key driver of economic growth and business success. Learn how becoming a certified small or diverse supplier can unlock new opportunities, enhance your business reputation and provide a strategic advantage in the marketplace.
Companies look to these third-party certification organizations across the U.S. to verify that businesses meet the small or diverse criteria in revenue ownership, operations and control:
- National Minority Supplier Development Council (NMSDC)
- Women’s Business Enterprise National Council (WBENC)
- National LGBT Chamber of Commerce (NGLCC)
- National Veteran Business Development Council (NVBDC)
- Small Business Enterprise (SBE)
“It’s a marathon, not a sprint. You’re not going to get an overnight success solely by virtue of being a small or diverse business. But over time, you’ll have the potential to win contracts and build and grow your business.”
— Frederick Royall III, Managing Director and National Head of Diverse Businesses, JPMorganChase Commercial Banking
Scaling your business for growth
These resources provide tips small and diverse suppliers can use to grow their networks and scale their business.
JPMorgan Chase Bank, N.A. Member FDIC. Visit jpmorgan.com/commercial-banking/legal-disclaimer for disclosures and disclaimers related to this content.
