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Diversity and Inclusion Enables Economic Growth

Diversity and Inclusion Enables Economic Growth. Agenda. 1. Current State. 2. Opportunity. 3. Recommendation. 4. Moving Forward. CVS Health : Diverse Business Enterprise.

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Diversity and Inclusion Enables Economic Growth

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  1. Diversity and InclusionEnables Economic Growth

  2. Agenda 1 Current State 2 Opportunity 3 Recommendation 4 Moving Forward

  3. CVS Health : Diverse Business Enterprise Means any business located within the United States of America or US territory and that is at least fifty-one percent (51%) unconditionally owned and operated by a person(s) who is either a citizen or lawful permanent resident of the United States or of a U.S. territory and is recognized by the U.S. Government as a: Minority-Owned Business Enterprise (MBE), Woman-Owned Business Enterprise (WBE), Lesbian, Gay, Bisexual and/or Transgender Owned Business Enterprise (LGBTBE), Small Disadvantaged Business (DBE), Small Business Enterprise (SBE), Veteran-Owned Business (VBE), Service-Disabled Veteran-Owned Business (DVBE), or HUBZone Business. (Generally self identification) CERTIFICATION: The MWVBE owner(s) must possess the power to direct or cause the direction of the management and policies of the firm and shall possess the capability of making day-to-day as well as major decisions on matters of management, policy and the operations of the firm.

  4. 2012 Survey of Business Owners (SBO) and Self-Employed Persons • The Census Bureau’s 2012 SBO data shows that MBE receipts averaged $196,000 in 2012, compared with $650,000 in nonminority-owned businesses • MBE’s nationally total 8,000,000 and employ 7,700,000. • Minority businesses are growing faster than non-minority (39% versus -5%) • Women Owned Businesses make up 33% of all businesses but 89% are sole proprietors • There are 2.4M (9%)Veteran Owned Businesses in the US

  5. Diversity A Driver of Economic Growth Research makes it increasingly clear that companies that support diversity perform better financially

  6. Agenda 1 Current State 2 Opportunity 3 Recommendation 4 Moving Forward

  7. Drive Flagler County Economic Growth Through Broadening Diversity Entrepreneurship Opportunity Promote awareness of the value of MWVBE entrepreneurship to Flagler economic growth Encourage entrepreneurship and increase job opportunities within diversity/minority communities Coordinate efforts between other government organizations to scale and optimize MWVBE businesses Shift the perceptions from “hand-out/hand-up” to economic growth

  8. Connecting the Dots DSC Business (Chamber) FLAGLER COUNTY Sherriff’s Office NGO & P3’s Consti-tutional Officers School District

  9. Agenda 1 Defining Diversity 2 Opportunity 3 Recommendation 4 Moving Forward

  10. The Recommendation Reach consensus that our economy is stronger when it is diverse, inclusive and maximizes innovation and then gather data to establish a current state to spring to continuous improvement Create a community/businesses/government shared vision and action plan for economic growth through Diversity, Inclusion and Innovation Measure against success metric, communicate successes and encourage continuous improvement

  11. Agenda 1 Current State 2 Opportunity 3 Recommendation 4 Moving Forward

  12. How We Should Measure Success

  13. THANK YOU!

  14. Define the problem examples • What percentage of Flagler businesses are MWVBE? • How many jobs are created by MWVBE businesses? What type of job growth? • What is the average top line revenue of MWVBE businesses in Flagler County? • How many new MWVBE businesses were started last year? • How much does the County, School District, Sherriff’s Office and the Cities spend annually with MWVBE and local businesses? • What are the demographics of women, minorities and veterans in Flagler County? • Benchmark to the State and selected counties

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