Did You Know?
Access to Capital - Access to Money - Why it Matters
Access to capital research studies how hard or easy it is for someone to get money or resources for their business. The United States has a wide range of funding sources available to businesses. However, getting money for business can be a challenge for any person, let alone a member of a community that has faced discrimination and bias over generations.
For example, many business owners use their homes, other real estate, or personal wealth to start up or grow their business. Communities of color have less wealth built up over generations due to systemic discrimination such as redlining (refusing to loan money to people living in certain areas). In addition, the evidence of bias and discrimination in the loan process still exist.
To build strong businesses and strong communities, diverse small business owners need fair access to capital. To learn more, visit our site for a list of studies on access to capital and minority owned businesses.
More Exciting Governor’s Business Diversity Subcabinet Updates
The Subcabinet is “road testing” several tools developed by action teams tasked with creating easy-to-understand tools, guidance and support to improve the state’s diversity culture and framework. The materials are based on the Attorney General opinion requested by the Subcabinet regarding RCW 49.60.400 (commonly known as I-200), which was received earlier this year. Once finalized, tools to help agencies spend more with certified businesses will be available for state agency contracting and procurement professionals.
In early 2019, the results from a statewide disparity study will be available. The study will include additional clarification and recommendations on what tools state agencies can employ to ensure that contracting practices are fair and nondiscriminatory.
Help with Applications and more is Always Available
We are here to be of service. If you have any questions about OMWBE certification or our website, please use our contact page or call us directly at 360-664-9750 or 866-208-1064. We also offer free telephone interpretation services available in 240 languages and dialects--just let us know. If you are in Olympia and would like assistance in person, visit us!
Once certified - Use the OMWBE Logo
Once your business is state or federally certified with us, use the OMWBE logo to help promote your business. Certified firms use the OMWBE logo on business cards, capabilities statements, websites and more. Visit the logo page to download a copy or email us to request a specific format.