Must Read | Boosting Business And Brand Image Why do companies support supplier diversity? According to the 2023 State of Supplier Diversity Report, it’s not just because they want to “live their values.” • 81% say they support supplier diversity because it aligns with their corporate culture. • 66% say it improves supply chain competitiveness. • 53% say it enhances brand image. Integrating promo into required-spend programs can amplify these benefits. When companies source promo from diverse suppliers, they not only fulfill their spending obligations but showcase their commitment to diversity. A Snapshot On Small Businesses Almost all businesses in the United States are small businesses, and nearly half of all Americans work for a small business. These businesses are also diverse, with 22% owned by women, more than 21% owned by immigrants and 21% owned by minorities. Finding people to join their teams is a challenge, though. Almost half of small business owners (40%) report having trouble filling open positions. One way to attract qualified workers is to use promo from women-owned or minority-owned businesses. Logoed items like pens and tote bags are useful at job fairs and networking events, and they showcase a company’s commitment to equity. New Businesses Are Booming A record-breaking 5.5 million new business applications were filed in 2023, according to the U.S. Chamber of Commerce, with most filed in the retail trade and professional services industries. Black entrepreneurship has doubled since 2023, with Latinx entrepreneurship also on the rise. These new businesses can source their promo from companies that align with their values. Whether it’s from a minority-owned business, veteran-owned business or some other designation, each purchase promotes diversity and social responsibility. Campaign Collateral The Redwood National Park Candle is ethically sourced and produced in the U.S. It burns for more than 80 hours and provides an earthy scent of oakmoss, sage and citrus. A percentage of sales goes toward environmental nonprofits. PCNA / PPAI 113079, Platinum / pcna.com Use the Universe Premium Microfiber Cloth as a giveaway at tradeshows or conferences. This dual-layer, plush cleaning cloth is made in the U.S. and features a full-color logo. Logomark / PPAI 110898, Platinum / logomark.com 54 • JULY 2024 • PPAI
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