Today's Date: February 23, 2024
West Virginia Virtual Academy Now Enrolling for the 2024-2025 School Year for Grades K Through 12   •   The Wiggles Launch Wiggle and Learn Brand New YouTube Series for Toddlers   •   Itron and The Mobility House to Address Grid Constraints with First-of-its-Kind EV Fleet Electrification Program   •   Straight Talk Wireless Tax Breaks Event Offers Great Deals and Stress Relief This Tax Season   •   Author Ro Smith Announces Debut of her Highly Anticipated Fantasy Adventure 'Journey of a Lost Oxa'   •   Docebo Reports Fourth Quarter and Fiscal Year 2023 Results   •   Personal Growth Expert Offers Practical Strategies For Moving Forward After Rejection   •   SeABank enhances management and governance capacity to promote sustainable development   •   NW Natural Holdings Reports Fourth Quarter and Full Year 2023 Results   •   Vir Biotechnology to Participate in Upcoming Investor Healthcare Conferences   •   Big Blue Marble Academy Encourages Outdoor Winter Play, Highlighting Benefits and Activity Ideas for Healthy Development   •   Zuniga Health partners with Generous Benefits to offer Pay-Per-Need health benefits to small and medium-sized businesses in Texa   •   CiDRA Minerals Processing Inc. Showcases Revolutionary Technology at MINEXCHANGE 2024 SME Annual Conference & Expo   •   Gravitrex Wins National Institute on Aging Startup Challenge   •   Flow Studio Takes Another Step Forward with CES 2024 Win   •   Butterfly Network to Participate at the TD Cowen 44th Annual Health Care Conference on March 5, 2024   •   The Graphic Novel, "Black Justice: The Awakening," Sheds Light on the Concept of Privilege Using a Superhero Story   •   Florida’s Nonprofit State Association and Association of Grantmakers Elevate Florida’s Nonprofit and Philanthropic C   •   Pierre Fabre Laboratories, committed to combating rare pediatric diseases via innovative therapies   •   Establishment Labs Announces Participation in Two Upcoming Investment Conferences
Bookmark and Share

Report Shows Power Of Gay-Owned Firms

SAN FRANCISCO  — A breakthrough survey of over 1,400 LGBT business decision-makers was recently conducted by Community Marketing, Inc. (CMI), an LGBT market research and communications firm based in San Francisco. The report highlights significant opportunities for LGBT-owned firms to grow their business, as well as for large corporations to more easily source LGBT-owned suppliers. The study also showed that the National Gay & Lesbian Chamber of Commerce (NGLCC), and local LGBT chambers of commerce have successfully nurtured the growth of LGBT-related business-to-business commerce.

“Sourcing LGBT suppliers used to be like finding a needle in a haystack,” said Irwin Drucker, Program Director, LGBT Supplier Diversity, IBM. “There is no way a large corporation could include LGBT in their supplier diversity program without NGLCC.”

The vast majority (72%) of respondents overall don’t realize major corporations look to buy from LGBT-owned companies, indicating a sizable business development opportunity. By contrast, respondents who are NGLCC members are nearly three times more likely than nonmembers (70% vs 24%) to know that major companies buy from certified LGBT-owned firms, underscoring one of the most beneficial aspects of membership in NGLCC and local LGBT chambers of commerce.

“Through our involvement in the NGLCC, we’ve been able to connect with LGBT business decision makers, thus growing exponentially in the past several years: quadrupling from two to eight employees and at least doubling our revenue,” said Alan “Chip” Green, Jr., Managing Partner of gay-owned Green Ink Marketing Communications. “We are now a more robust global supplier.”

Business-related commerce among LGBT-owned companies and LGBT-friendly corporations had never been studied prior to this research. “LGBT marketing is almost entirely consumer-focused,” said Thomas Roth, President of Community Marketing, Inc. (CMI). “This study indicates a viable opportunity in the ‘LGBT B2B’ segment that is often ignored.” CMI conducted this first-of-its-kind online survey of over 1,400 U.S.-based respondents in partnership with NGLCC. The study was supported by Hyatt Hotels, Chubb Group of Insurance Companies and Wells Fargo Bank. The goal of the study was to quantify and qualify the purchasing habits, motivations, and behaviors of LGBT-owned companies and LGBT-friendly corporations, and determine opportunities for increasing LGBT-related B2B commerce.

Respondents were drawn from a “business owner/manager” segment of CMI’s proprietary research panel of 50,000 LGBT consumers, NGLCC national members, and affiliated LGBT chambers of commerce members.


About NGLCC
The NGLCC
is the business advocate and direct link between LGBT business owners, corporations, and government. The NGLCC represents the interests of more than 1.4 million LGBT-owned businesses in the United States and is the umbrella organization for 61 state, local, and international LGBT chambers of commerce and business organizations.

About NGLCC’s National Business and Leadership Conference 
Out for Business! will be a three-day event, taking place from November 18 to 20 in Washington, DC, including the presentation of this groundbreaking survey, a series of exciting business symposia, engaging keynote speakers, thoughtful panel discussions, and fun special events designed to educate and connect attendees.


STORY TAGS: GENERAL , BLACKS , AFRICAN AMERICAN , LATINO , HISPANIC , MINORITIES , CIVIL RIGHTS , DISCRIMINATION , RACISM , DIVERSITY , RACIAL EQUALITY , BIAS , EQUALITY



Back to top
| Back to home page
Video

White House Live Stream
LIVE VIDEO EVERY SATURDAY
alsharpton Rev. Al Sharpton
9 to 11 am EST
jjackson Rev. Jesse Jackson
10 to noon CST


Video

LIVE BROADCASTS
Sounds Make the News ®
WAOK-Urban
Atlanta - WAOK-Urban
KPFA-Progressive
Berkley / San Francisco - KPFA-Progressive
WVON-Urban
Chicago - WVON-Urban
KJLH - Urban
Los Angeles - KJLH - Urban
WKDM-Mandarin Chinese
New York - WKDM-Mandarin Chinese
WADO-Spanish
New York - WADO-Spanish
WBAI - Progressive
New York - WBAI - Progressive
WOL-Urban
Washington - WOL-Urban

Listen to United Natiosns News