Southport, CT, Dec 15, 2005/ DiversityBusiness.com / Lockheed Martin was today declared as the Top Corporation for Multicultural Business Opportunities of 2005 by over 500,000 diversity business owners. The honor extends to another forty-nine major corporations and is collectively called the
Div50. The 6th annual list was produced by DiversityBusiness.com, the nation's leading multicultural B2B online portal. The voting business owners based their decisions on such factors as the volume, consistency and quality of business opportunities granted to women and minority-owned companies. Other large companies at the top of the list are Office Max, BellSouth, Bank of America, Dell, Toyota and Wal-Mart.
Top Honors for Top Corporations
While other awards and “top” lists crown companies for overall economic growth, returns to shareholders and similar metrics, the
Div50 is an indicator of which organizations provide the best and the most business for diversity-owned companies. In a marketplace that is increasingly as sensitive to diversity as it is to revenues, recognizing the top buyers of multicultural products and services is becoming a natural part of the new socioeconomic food chain. “Those organizations that buy the most products and services, most consistently, from diversity businesses, and that sustain the most mutually beneficial business relationships with their multicultural suppliers, should be recognized not only by the suppliers but also by the general public,” said Kenton Clarke, CEO of DiversityBusiness.com.
The Business Power of Diversity
As minorities gain more buying power and their lifestyles become more affluent, multicultural markets are growing in economic muscle. This in turn attracts more corporations, as they compete for market share in minority communities. The
Div50 list has become, by virtue of association, a consumer guide of sorts for women and minority consumers. “As a diversity business owner, I appreciate the business we receive from corporate buyers; and in turn, when I buy products and services, either as a company or as a private individual, I am much more likely to buy from the same companies that are supporting my business, or that I know are supporting businesses like mine,” said Sush Tripati, owner of IT-Source headquartered in Southbury, CT.
The list is circulated to over 1,000 organizations that distribute it to their members and associates; it thus reaches millions of consumers every year. In 6 short years, it has become a highly valued metric of corporate excellence in the diversity space.
The Div50 is a listing of the top 50 corporate and organizational buyers of diversity products and services throughout the country. It represents the voices of over 500,000 diversity-owned (women, Blacks, Hispanics, Asians, Native Indian and other minority groups) businesses in the U.S., in sectors such as technology, manufacturing, food service and professional services. The
Div50 is produced annually by DiversityBusiness.com, the nation's leading multicultural B2B Internet portal that links large organizational buyers to multicultural product and service suppliers.
Over 500,000 women and minority owned businesses had the opportunity to vote in the 2005 online election. The winning companies will be honored at a special awards ceremony at DiversityBusiness.com’s 6th Annual Multicultural Business Conference, taking place March 29 – March 31, 2006 at the MGM Mirage in Las Vegas.
A complete list of the winners is available at:
Launched in 1999, DiversityBusiness.com with over 30,000 members is the largest organization of diversity-owned businesses throughout the United States that provide goods and services to Fortune 1000 companies, government agencies and colleges and universities. The site has gained national recognition and has won numerous awards for its content and design. It is a membership-based exchange platform that facilitates contacts and communication, streamlines business processes and provides vital business news and information.
Director of Communications