Growing a small LGBTQ business is no easy task. But there are simple ways to help your company succeed, and one way is to register as an LGBTQ certified business. By registering your business with the NGLCC, you can reap several benefits and improve your chances of success.
What is the NGLCC?
Before getting started, you should know a little about the NGLCC and what they do. The organization verifies and certifies LGBT-owned businesses. If you want to be a Certified LGBT Business Enterprise®, you need to go through the organization.
In addition to giving you the title of a certified LGBTQ business, the organization gives you access to corporate partners. You have the potential to connect with more than 300 representatives and suppliers, and can get face time with them at networking events.
When companies want to connect with LGBTQ businesses, they turn to the NGLCC’s database. If certified, your business becomes part of that database. Your status also gives you access to scholarship programs, leadership trainings, and mentoring opportunities.
Specific Benefits of Registering as an LGBTQ Business
Not all certifications are effective at helping your business. However, certifying with the NGLCC comes with several benefits:
Advantage Over Competitors
Being an LGBTQ business owner comes with a long list of challenges. However, registering your business gives you one advantage that other business owners don’t have – access to the tools, resources, and connections offered by the NGLCC. Even if a business is owned by an LGBT individual, they don’t have this competitive advantage unless they register.
Opportunity for Partnership
In an effort to comply with diversity requirements, corporations often look for businesses owned by certain demographics. And a company claiming to be LGBTQ owned isn’t enough – there needs to be proof of the claim. When you get certified by the NGLCC, you meet the diversity requirements.
There are corporations throughout the country looking for partners, but finding them is difficult. When you show up on the database of LGBTQ businesses, other companies and organizations can find and connect with you. Partnering with them can open new doors and expand your business without any expense.
Increase Your Longevity
Although becoming an entrepreneur is easier than ever, keeping your business going is a struggle. About 20% of new businesses fail within the first two years, and 45% of them fail within the first five years. No matter what industry you’re in, there are obstacles threatening your success.
If you register as an LGBTQ business, you’re not alone. You can find a mentor to guide you through the tough times or get your name out to the local community.
Find Your Audience
Members of the LBGTQ community spend hours researching companies that are inclusive. If you don’t make it evident that your business is LGBTQ owned, you will have a harder time finding your audience. Your target audience can find you on the database and be sure their money is going to
Overall, being an LGBTQ business alone isn’t enough. There are plenty of resources available to you, and the NGLCC certification is one such resource. It doesn’t require much effort and can have a significant payout.
Cutting costs on merchant services and passing savings on to customers is another way to save money. To learn more about how you can do that, contact us at Rhino.LGBT.