A Glimpse At Veteran-Owned Businesses Each year, veteran-owned businesses generate more than $1 trillion in sales in the U.S. economy. From construction to healthcare to professional services companies, more than 5.5 million Americans work for these businesses. When veteran-owned companies support fellow veteran-owned promo businesses in required-spend programs, they create a powerful bond of camaraderie and support within the veteran community. By sourcing promo items from these companies, it also highlights the values of service and loyalty. Small Businesses And LGBTQ+ Support A report from the U.S. Chamber of Commerce shows that most small business owners (86%) believe it’s important to provide an inclusive culture and to take direct action to ensure inclusion, whether that’s working with LGBTQ+ owned companies or donating to organizations that support this community. About 2 in 3 small businesses say companies should share their beliefs on social issues like LGBTQ+ rights, with 72% saying they’re OK losing customers as a result of supporting the LGBTQ+ community. By purchasing promo from LGBTQ+ led companies, brands can show their allyship and send a powerful message of support. The Resilient Rise Of Women-Owned Businesses The U.S. is home to more than 14 million women-owned businesses. From 2019 to 2023, women-owned companies added 1.4 million jobs and nearly $580 billion to the economy. These businesses can further their impact through promo. Supporting women-owned promo companies in required-spend programs fulfills procurement goals and creates a ripple effect of empowerment. By sourcing promotional items from fellow women entrepreneurs, women business owners can amplify their impact, strengthen their network and foster a sense of shared success. | Must Read employees say they prefer to work for and support businesses that care about the same issues as they do. Companies that don’t live up to expectations risk losing support, with 76% of consumers saying they will discontinue relations with companies that treat employees, communities and the environment poorly. Required-spend programs give companies a chance to walk the talk when it comes to ESG practices. These programs aren’t just about meeting spending goals – they’re about making a positive impact across the board. Whether businesses choose Americanmade promos or work with women-owned promo businesses, they can align their brand with their values. Each promo becomes a storytelling tool to communicate their commitment to ESG principles. Keep reading for some ideas on how to use promo to not only meet required-spend goals but create a meaningful difference. PPAI • JULY 2024 • 53
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