Business Ownership

Here’s what’s of most value to you and what the report enables you to analyse:

Legal Requirements on Diversity and Inclusion Legal requirements related to diversity and inclusion can vary by region and industry. You need to ensure that your supply chain adheres to these regulations, which may include requirements for minority-owned businesses, gender diversity, and support for underrepresented groups.

Supplier Diversity Goals Many organisations set their own supplier diversity goals to promote inclusivity and social responsibility. These goals may align with broader corporate social responsibility (CSR) initiatives.

Government Contracts and Regulations In some regions, government contracts may require a certain percentage of subcontracting to be allocated to minority-owned or women-owned businesses. You need to ensure compliance when bidding for public projects.

Reputation and Social Responsibility Buyers increasingly prioritise doing business with socially responsible and diverse suppliers to enhance their reputation and meet stakeholder expectations.

What the Report Enables You to Analyse:

Diversity Ownership Metrics: The report provides a clear overview of supplier ownership characteristics, including ex-members of the armed forces, women, BAME individuals, LGBT individuals, and individuals with disabilities. You can assess the diversity within your supply chain, which is valuable for both legal compliance and social responsibility.

Compliance with Legal Requirements: You can use the report to assess whether your suppliers meet legal requirements related to diversity and inclusion, such as compliance with minority-owned business certification or gender diversity mandates.

Progress Toward Supplier Diversity Goals: The report allows you to track and analyse progress toward your own supplier diversity goals. You can identify areas where improvements are needed and take corrective action.

Reputation Management: By selecting suppliers who align with diversity and inclusion objectives, you can enhance your reputation as organisations committed to social responsibility and inclusivity.

Risk Mitigation: Identifying non-compliant suppliers or those with limited diversity can help you mitigate legal and reputational risks associated with non-compliance with diversity and inclusion regulations.

In summary, the report empowers you to assess, monitor, and manage your supply chain in a way that ensures compliance with legal requirements while also promoting diversity, inclusion, and social responsibility. You can use the data-driven insights to make informed decisions, track progress towards your diversity goals, and ensure that your supply chain aligns with your values and legal obligations.