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Sunday, April 9, 2017

Walmart Planning to Do More Business With Women Entrepreneurs

Women-owned businesses that have contracts with Walmart
Retail giant Walmart is taking another big step forward to include more women-owned businesses in its sourcing, and this time they are being joined by 8 other major corporations -- all Fortune 500 companies. Although Walmart has been sourcing from women-owned businesses (WOBs) for several years, this recent initiative is bigger than ever.

Walmart's plan

Walmart created its own plan to source over $20 billion from WOBs in 2011-2016 as part of a five-year Global WEE Initiative, adding more than 1,500 WOB suppliers. This time, they are being joined by Campbell Soup, Coca-Cola, ExxonMobil, General Mills, Johnson & Johnson, Mondel─ôz, PepsiCo, and Procter & Gamble. The results over the next five years will most likely significantly increase the amount of business being done with women entrepreneurs.

During the next five years, the results of this huge initiative will be tracked by The Women’s Business Enterprise National Council (WBENC), the largest third-party certifier of businesses owned, controlled, and operated by women in the U.S. All of the companies participating in the new program agree that this initiative is important not only to women-owned businesses but also to economies as the amount of women-owned businesses continues to increase across the country.

A rigorous process, but worth it!

To qualify as a WOB approved to do business with the likes of Walmart and the other Fortune 500 companies requires rigorous preparation. Others who have already been through the process, like Ariela Balk, CEO of lingerie company Ariela & Associates, are willing to work with other women entrepreneurs to help them through the process. Is it worth it? Absolutely, says Balk, "it's exciting to be a part of this and help other women-owned businesses grow."

Learn more about Walmart's plan by visiting www.walmart.com/women
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