Supplier Development Program
The Supplier Development program is intended to connect Black, Indigenous and People of Color (BIPOC) – owned businesses to contract opportunities, provide relevant business development trainings, and support access to capital. The program will be delivered by the Evansville Regional Economic Partnership (E-REP) and supported by the Southwest Indiana Small Business Development Center (SBDC), University of Southern Indiana, University of Evansville, and the Evansville Black Chamber of Commerce annually with two goals in mind:
1. Diversifying regional supply chain’s
2. Developing capable and relevant BIPOC-owned businesses
If you’re a BIPOC-owned business,
please apply and the team will
assess your application for the
services that fit your business best.
It’s in the data…
- In their first year, 1% of Black-owned businesses obtained loans
they applied for compared to 7% of white owned businesses.
- On average, big banks approve around 60% of loans applied for by
white small-business owners, 50% by Latinx small-business owners,
and 29% by Black small-business owners.
- Although minorities make up 32% of the population, minority business
ownership is only 18%.
- Minority-owned businesses employ 1 out of 10 Americans, and in total,
they generate over $1.3 trillion in sales every year.
DO YOU QUALIFY:
- Are at least 51% BIPOC-owned
- Have annual revenues of $200k or more
- Have a scalable business model that has the potential to operate nationally
- Are in good standing with all applicable taxing entities
- Demonstrate elements of traction and scalability along with the productive use of:
- Additional capital
- Market opportunities
- Specialized Management Education (focused on contract readiness)
- Program Outcomes:
- # of Businesses Enrolled
- # of Businesses Matched with Procurement Opportunities
- # of Businesses Capitalized
- Total Capitalization in $’s
- Contracts Awarded in Total $’s
- Regional Economic Impact
- Supply Chain Diversification
- BIPOC Business Growth
Contract opportunities from these Anchor Companies may be available to Supplier Development Program participants.