According to a breakthrough survey of commerce and business trends among LGBT-owned businesses and LGBT-friendly corporations, membership with the NGLCC and local LGBT chambers leads to increased business opportunities.
The survey, which examined 1,400 LGBT-owned businesses and LGBT-friendly corporations for their purchasing habits, motivations and behaviors, found that respondents who are NGLCC members are almost three times more likely than non-members to know that major corporations buy products and services from certified LGBT-owned businesses.
This finding suggests that one of the most beneficial aspects of membership with the NGLCC and local chambers, knowing that large companies seek out LGBT business to diversify their supply chains, has helped to cultivate these types of business connections.
"Sourcing LGBT suppliers used to be like finding a needle in a haystack," said Irwin Drucker, program director for LGBT supplier diversity at IBM. "There is no way a large corporation could include LGBT in their supplier diversity program without NGLCC."
However, 72 percent of respondents overall were not aware that large corporations look to buy from LGBT-owned businesses, suggesting significant business development opportunities.
"What we've found is that those that know about LGBT supplier diversity know a lot and are very active," said Victoria Fulkerson, vice president of corporate relations and supplier diversity at the NGLCC. "What the survey shows is that there is an incredible opportunity to educate a large segment of the LGBT business community, and we intend to seize this opportunity."
Historically, studies on LGBT marketing have been more consumer-focused. But this survey, conducted by Community Marketing, Inc., a San Francisco-based LGBT market research and communications firm, was the first one to focus on business-related commerce among LGBT-owned and LGBT-friendly companies, underscoring the importance of LGBT chambers of commerce such as the NGLCC and its local affiliates.
"The NGLCC is the direct connection between LGBT-owned businesses and large corporations, and this study just underscores the ways in which a membership with the NGLCC and its local affiliate chambers can help these businesses grow," said NGLCC president and co-founder, Justin Nelson.
Complete results of the survey will be presented at the 2010 NGLCC National Business & Leadership Conference Nov. 18-20 in Washington, D.C.
For more information about the conference or to register, click here.
