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From the Top: 2016 Goals & Objectives Part II

Last week I highlighted some of our 2016 objectives that focused on breaking the cycle of poverty in Memphis by creating quality jobs and growing our middle class. The Greater Memphis Chamber along with other stakeholders in the business community is also embarking on a comprehensive effort to increase Minority & Women-Owned Business receipts in our region.
Some of these stakeholders include:
  • The Black Business Association
  • Memphis Office of Resources & Enterprise
  • National Association of Women Business Owners
  • Mid-South Minority Business Council
  • Economic Development Growth Engine
We all know the importance of this issue. Currently, local businesses owned by minorities make up only one percent of total annual receipts while African Americans make up over 63 percent of the Memphis population. This discrepancy must be addressed, and it starts with awareness and complete buy-in from the business community.

To show how serious the Chamber is about finding solutions to this issue, we have established several objectives for this year. Our success for 2016 is determined by how far we can move the needle on this initiative. These objectives include:
1. Work with other stakeholders to establish and implement a Universal Certification Program.
We know these small businesses do not have the time or resources to navigate the complicated process of applying for the many certifications that are both available and necessary to do business with different companies and organizations across our region. We want to create a simple, user-friendly program that makes it easy to do business with our MWBEs.
2. Work with EDGE to approve and implement an overall plan to address disparity.
This plan must include the development of a comprehensive platform for MWBEs. In mid-March we met with the EDGE board and laid out our plan for supplier diversity. In the coming weeks I’ll share this plan in greater detail.
3. Increase the number of certified Minority & Women-Owned Businesses by 10 percent in 2016.
This is the true measurement for our success. And I know that with the right team and the right tools in place, we can make a significant difference and truly create economic growth for all in Memphis.
Next week, I’ll outline exactly what I mean by the right team and the right tools as I start to share the Supplier Diversity Collaborative Plan we presented to the EDGE board and are now in the process of implementing – starting with the crucial role of the private sector.
Phil Trenary
President & CEO
Greater Memphis Chamber

Posted: 5/18/2016 9:23:38 AM | with 0 comments
Filed under: &, CEO, Chamber, Diversity, Goals, Greater, Memphis, Objectives, Phil, President, Trenary

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