The Greater Memphis Chamber has a new goal to have a total of 600 new contracts for Minority and Women-Owned Enterprises (MWBE) and Locally Owned Small Businesses (LOSB) by the end of 2017, as announced today.
Aimed to directly address the low number of receipts MWBE businesses receive in the county, the goal is also meant to encourage local purchasing and the growth of local, small, minority and women-owned businesses.
President and CEO of Greater Memphis Chamber, Phil Trenary says that this year the growing of MWBESs and LOSBs have been a priority to the organization and because of that it is important that the success of those businesses be incorporated into the goals and objectives of the Chamber.
“The Chamber wants to ensure that it is easy and accessible for any business to succeed in Memphis," Trenary said. "It is vital to the Chamber that there be new opportunities for MWBEs and LOSBs so they have the same advantages as other businesses and this goal to grow the number of contracts will have a direct impact on their bottom line.”
This goal comes at the same time as other Chamber initiatives meant to help MWBEs and LOSBs take place, such as the Ascend Memphis Business Development Program which pairs MWBE/LOSB businesses with larger companies for a mutually beneficial partnership.
Additionally, later this year the Chamber plans to launch a web portal where businesses can find available contract opportunities and connect with MWBE and LOSB companies for those contracts.