Category "Diversity Supplier"

As an entrepreneur, growing your company successfully is likely your number one priority. You likely took strategic risks and made sacrifices to establish your business, so why risk your business by neglecting to establish a solid legal foundation? Keeping your business protected is vital to ensure future success and uninterrupted growth.

Let us discuss some business-related legal formalities you need to take care of in the early stages of your business:

1. Choosing the right business structure. The legal structure of your business has major tax and personal liability implications. Whether it will be a sole proprietorship, Limited Liability Company (LLC) or a Corporation. The legal structure of your company decides how much tax your business will incur, the number of documents you must file, the liability you are personally responsible for, as well as whether or not you can raise capital.

In choosing the right legal structure for your company, you need to be aware of local, state and federal laws.

Two professionals looking at a computer screen

Two professionals looking at a computer screen

2. Defining the roles and responsibilities of shareholders and co-founders. The responsibilities of co-founders and shareholders need to be well defined early in the articles of association and founders agreement prior to starting your business operations. Defining these roles and duties makes sure everyone knows their position in the company, how much they will earn in salary, how much equity they have in the business and what could be the consequences if they underperform.

By clearly defining everything related to shareholders and co-founders early on, your team has clear guidelines on how to settle disagreements between founders and shareholders, should they arise.

3. Protecting intellectual property and trade secrets. Intellectual property includes marketing material, products, logos, website, business plan, branding, trademarks, patents, etc. A founders’ agreement protects the intellectual property of a business by legally registering them in the name of the company.

This is an ongoing process as new ideas and products should also be registered under the company. The rights to sell intellectual property should remain with the company, and your founders’ agreement will clearly state who in the company has the right to sell it.

4. Protecting the employer/employee relationship. An employee is bound to perform his duties in a company in return for certain facilities and remuneration. US law gives certain rights to the employee and the employer that they can practice when the need arises. However, the mutual employment agreement covers a few factors like selection and engagement of employee, salary paid to the employee, dismissal powers, employee’s conduct, etc.

people working on laptops at a table

There are many other circumstances that your company needs protection from, such as discrimination or harassment claims and immigration audits. Ensuring legal protection for the company makes sure you run your business functions and operations smoothly.

How the Council for Supply Diversity Helps You

Your Council Services Include Free Access to Our Small Business General Legal Counsel Services. Obtain general legal information on the most common legal issues that affect small business operations. Access to our local general counsel is provided on a scheduled basis through the Council for Supplier Diversity office.

General Counsel will provide you with FREE general information on issues that do not require litigation or appearance before a court or administrative body. In the event your legal matter requires more than general information on legal issues such as litigation involving the filing of court documents, litigation response or answer to any litigation matter, we can provide you with contact information of diverse attorneys who may be able to handle your legal matter at a discounted rate.

Matters we cover are :

  • Labor Laws and Regulations
  • Copyright, Patents and Trademarks
  • Worker’s Compensation
  • Insurance Coverage Issues
  • Contract Negotiation
  • Landlord-Tenant
  • Leasing
  • Buying and Selling a Business
  • Business Entity Structure
  • Debt Collection
  • Employee Handbook Preparation
  • Lawsuits and Liability
  • And More…

Visit our website, email, or call us to schedule an appointment.

As an entrepreneur you know running a full-time business requires 100% attention, dedication and efficiency. High levels of efficiency can be difficult to achieve while working from home or virtually. While we’re starting to establish a new normal with social distancing requirements, post-pandemic, remember the motivational benefits of working in an office. Your office space becomes the centre of all business-related activities where employees can collaborate in real time and create an atmosphere of creativity, productivity, and success.

There’s been a debate in the business community about whether having a dedicated office space or working from home is most effective. Statistics say a combination of both is best, showing working remotely once a week may increase productivity, but working in an office space increases efficiency and productivity in the long run. Another solution is to have a virtual office that can be used on a part-time basis to provide you with the best of both worlds.

Here are 3 reasons why having an office space for your business is important:

1. Effective collaboration and efficient communication.

We are incredibly social beings, and even while “social distancing” the need to physically see and interact with others still exist and these interactions are valuable. One of the most important factors for the success of any business is the performance of its employees and whether they are able to perform as a team or not. Having an office space promotes smooth collaboration and communication among employees. It makes them quicker, efficient and productive in their work as compared to people who work remotely. Easy communication and collaboration leads to improved brainstorming sessions and better problem-solving techniques. This goes a long way in raising the motivation level of employees and making them more efficient and productive.

2. Increased competitive advantage.

Having an office space gives an advantage over your competitors in many ways:

  • Better brainstorming sessions
  • Easy collaboration
  • Better communication
  • Better solutions to problems
  • Improves employees’ performance
  • Better project success rate
  • Improved customer retention rate
  • Successful client meetings

All these factors are interconnected and one leads to the other. These are a few reasons why having an office space gives companies increased advantage over their competitors who work remotely.

Companies like Facebook, Google and Microsoft have creative and energizing workspaces. Their workspaces, in combination with their reputation, attracts the best talent in their industries and the environment keeps company morale at an all time high. Working in a dedicated and organized office encourages everyone to work productively to achieve company goals. A physical space for your organization adds a much larger value as compared to the ones being run remotely.

3. Adds value to your business.

A creative and attractive office space communicates the status of your company, and there are reasons for awarding business who intentionally create a creative and inspiring work space. Spaces that are created around collaboration and professionalism encourage a positive work culture and productivity among your team.

Companies like Facebook, Google and Microsoft have creative and energizing workspaces. Their workspaces, in combination with their reputation, attracts the best talent in their industries and the environment keeps company morale at an all time high. Working in a dedicated and organized office encourages everyone to work productively to achieve company goals. A physical space for your organization adds a much larger value as compared to the ones being run remotely. 

Man looking at tablet

The Council for Supplier Diversity Has Office Space Available

Council for Supplier Diversity has virtual office space plans and modern office spaces available with additional office services to support your business, such as:

  • Quality office furniture
  • Telephone service with local & domestic long distance included
  • High-speed internet
  • 6 hours use of conference and meeting rooms
  • Phone answering and reception services
  • Mail services
  • Janitorial services
  • Utilities
  • 24-hour access to facility
  • Elevator access
  • Use of kitchen and break room
  • Clerical support available (at additional cost)
  • Warm, supportive and professional environment

If you are interested or to find out more about our office services, please visit our website or call (858) 537-2281.

Meeting customers where they are is an important strategy for any growing business and a marketing channel often overlooked is vendor portals. Vendor portals are an important early investment for small businesses, and these uncertain times create an opportunity for you to assess your vendor portal strategy.

 

A few benefits include:

  • Increased visibility with buyers. If your company is not listed in their portal when they are ready to hire a supplier, your business will be overlooked.
  • An opportunity to build relationships with buyers and secure new contracts.

Are you new to vendor portals or looking for additional information? Read on to learn how to take advantage of opportunities down the line, and during hard times like these.

business woman sitting on a couch holding a coffee

What are vendor portals?

Vendor Portals are platforms that allow large corporations to connect and collaborate with suppliers online. These systems are commonly required for any company that works with multiple suppliers as it is the primary way businesses and their suppliers securely track orders and communicate. (source) It is also a way for companies to vet suppliers and determine how legitimate their companies are.

How is a vendor portal used?

Companies like Union Bank, SDG&E, Sony, Cox Communications, and many others search vendor portals first to find companies like yours to supply the products and services they need. This is an important way to ensure you don’t miss opportunities when they arise. If you’re not listed and updated in these portals, buyers will not include you when soliciting requests for proposals, information or qualifications.

After a profile is created for your company, you’ll be able to upload additional information such as certificates, service-level agreements and other important documentation, increasing your chance of being chosen as a supplier. (source)

Where do I find vendor portals?

Vendor portals are found in the supplier or vendor sections of most corporate websites. Many have specific supplier diversity components for diverse business enterprises.

Listing your business in a vendor portal typically does not require a fee to get started. It’s also important to keep the information in your profile up to date so companies have the most relevant details about your products or services.

Need help setting up or managing your vendor portal profile?

As a diverse business enterprise owner, we know how valuable your time is. More than likely, you’re pouring everything into your company’s success. The Council for Supplier Diversity, and their team of experts, have a service to submit your company’s information to vendor portals on your behalf.

After your information is submitted through the portal, it may take time before a company reaches out to connect with you about opportunities available. In the meantime, the Council for Supplier Diversity will also keep your businesses’ information updated.

To learn more about our Corporate Vendor Portal Services, visit our website: http://councilforsupplierdiversity.org/.

About the Council for Supplier Diversity

The Council for Supplier Diversity, established in 1999, is a nonprofit organization. The Council for Supplier Diversity represents the corporate outreach to the Diverse Supplier community. It is our purpose to facilitate business opportunities and market share growth for minority, woman, underserved veterans, and service-disabled verteran owned businesses through interaction with our corporate members.

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Council for Supplier Diversity
Shane R Cummiskey, Marketing Director
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