The One Percent Plus initiative is an acknowledgment of the economic gap between the utilization of Minority Business Enterprises and Non-Minority Business Enterprises and purposefully strives to drive intentional efforts to close the utilization gap. We believe strongly that minority business inclusion matters for our total economy.
Commitment to inclusion impacts our total economy — the creation of jobs, a stronger tax base, a more vibrant community. Numbers matter!
Together As One – We Can Be The Difference.
Vistra Corp., which recently hosted its 2024 Vistra Supply Chain Diversity Nexus Awards Recognition Luncheon is committed to the One Percent Plus initiative.
The past few years have brought a global pandemic, extreme weather events, unprecedented supply chain disruptions, and geopolitical challenges. Through these challenges, Vistra has both grown its business and remained committed to identifying, engaging, utilizing, and developing diverse and small suppliers. In fact, Vistra successfully increased its spend with Small Businesses by more than 24% and Diverse Businesses by 25.5% in 2023.
Milton Quinn
Alpha and Omega Industries
The most critical aspect of our One Percent Plus initiative collaboration is the impact we can make within our community. The success stories of Buying Entity Members and DFW MSDC certified Minority Business Enterprises (MBEs) serve as the foundation for this positive direction undertaken by the Council.
We are pleased to feature Milton Quinn of Alpha and Omega Industries, who recently participated in the View From the Top Discussion with Minority Business Owners at the ACCESS 2024 Luncheon. Following the event, we asked Milton to share more about his perspective and provide insights on his journey.
READ MORE about what Milton Quinn had to say.
One Percent Highlights
MBE SUCCESS STORIES
The One Percent Plus initiative is an acknowledgment of the economic gap between the utilization of Minority Business Enterprises and Non-Minority Business Enterprises and purposefully strives to drive intentional efforts to close the utilization gap. While One Percent Plus was created to increase utilization of MBEs, it substantiates the broader rationale of the need for thriving diverse communities and workplaces. Given today’s climate and attacks on race conscious programs, the One Percent Plus initiative is needed now more than ever. We need you and your voice – join the movement!
DFW MSDC first introduced the One Percent Plus initiative following the release of the 2021 Economic Impact Report. We believe strongly that minority business inclusion matters for our total economy. The 2023 Report shows what commitment to inclusion can do to our economy, the bottom line and creation of jobs. Numbers matter.
Key take-aways:
- The Economic Impact in 2023 totaled $9.5 Billion in Revenues with 1,129 Certified MBEs, compared to $7.45 Billion in Revenues with 1,059 Certified MBEs in 2021.
- Supplier diversity and minority business inclusion is more important than ever.
- Five of the Top 10 Priorities for Procurement include: Improve Spend Cost Reduction, Act as a Strategic Advisor to the Business, Pursue Procurement Digital Transformation and Modernize the Landscape, and Improve Procurement Agility.
- By 2045, more than half of the US population is expected to be “diverse”. This has topline revenue implications for all businesses.
Join Our Movement
Close the Economic Gap
Send us your success stories in your efforts with the One Percent Plus initiative. We'd like to feature you in upcoming eblast and on the website.
Tell how you are:
- Increasing your overall spend with certified MBEs by One Percent Plus annually
- Increasing the number of MBEs you utilize by One Percent Plus annually
Everyone Can Make a Difference!
Why One Percent Plus?
We are driving a new wave of emphasis on minority business economic equity. We are leveraging our voice and our collective talents to champion minority business inclusion throughout our businesses and community because it helps our TOTAL economy and well-being.
Dallas Fort Worth Minority Supplier Development Council introduced the One Percent Plus Initiative to support deliberate interventions to close the economic gap for Minority Business Enterprises (MBEs), which is estimated at 333 years with the current level of spend. According to a recent MMSDC/ supplier io Economic Impact study, increasing spend with MBE’s by at least One Percent Plus year over year would shrink the economic gap closure timeframe for communities of color to 15 years.
Closing the economic gap would mean an $8 trillion increase in our national GDP and provide 9 million more jobs for all people in our nation.
The Council recognizes that an effective, innovative, and progressive supply chain diversity initiative not only enhances the economic development of our community, but drives cost savings, innovation, market penetration and profitability. The goal is to close the economic gap for communities of color by securing sustainable minority business enterprise engagement.
The One Percent Plus goal is the floor and not the ceiling. We believe this initiative will benefit all participating entities by creating competitive advantages and drive bottom line profitability.
HOW YOU CAN ENGAGE
Board of Directors
- Influence the actions of your Supply Chain
- Set target KPIs for the Supply Chain Professionals and Supplier Diversity Professionals
- Engage your entire organization in intentional utilization of certified minority-owned businesses
Supplier Diversity Professionals
- Identify the criteria for bid opportunities and inclusion
- Ensure Supply Chain Professionals include at least 2 diverse suppliers for every opportunity (minority inclusion)
- Arrange debrief on the why, if contract/bid is lost
Minority Business Enterprises (MBEs)
- Do more business with other MBEs!
- Ensure you can access the DFW MSDC Membership Portal
- Have a winning Capabilities Statement
- Do your homework on where your solutions best fit
- Stay engaged. Show up and Follow Up.
Supply Chain Professionals
- Be intentional in driving minority inclusion
- Be timely — communicate opportunities by sending information to your Supplier Diversity Professionals, The Council, and your own database
- Be Specific — Provide insights and criteria with clear expectations
- Be inclusive — Include at least 2 diverse suppliers on every opportunity (minority included)
- Set and track target KPIs
- Arrange a debrief with MBEs that lose a bid award.
- Stay Engaged — Educate yourself and your team by attending the Council’s Quarterly Supply Chain Luncheons
Frequently Asked Questions (FAQs)
Why One Percent?
A. Based on the Economic Study, closing the equity gap will result in increased Gross Domestic Product (GDP) by 8 trillion dollars, adding an additional 2.6 trillion dollars in consumer spending, and an additional 9 million jobs by 2050.
Has this been done before?
A. While the One Percent Plus Initiative is new, we have executed similar effective strategies. In 1999, we introduced securing 2 million by 2002 as a MBE revenue
goal. We reached the goal in 2001 because of intentional buying by corporations and MBEs. We know friendly competition works and we also know how important
it is to close the gap.
How can I make a difference?
You can make a difference by taking the making a commitment to the three actions.
- First, increase overall spend with certified MBEs by One Percent Plus annually.
- Secondly, increase the number of MBEs engaged by One Percent Plus annually.
- And thirdly, report your aggregate results annually.
We are happy to provide support and will share best practices to help you along the way. Make the commitment, develop a plan, and use the Council as a resource.
Who does the commitment a benefit?
The One Percent Plus Pledge benefits everybody – the economy, the region, buying entities, and minority business enterprises alike. Your commitment demonstrates a desire to close the equity gap. It’s the resounding response for actions that will make a
difference.
Do I have to be a large corporation to make join the initiative?
No, the initiative includes all sized businesses. In fact, we encourage everyone including minority-owned business to take join the initiative. Even your personal buying habits can make a difference. We must all do our part to close the equity gap. Collectively we all make the difference.
How do you measure success?
A. Success of the initiative will include an increase in revenue and number of MBEs engaged. The aggregate data requested will help us track our progress and tell the story.
How often is progress/success measured?
A. We plan to provide semi-annual updates highlighting best practices and successes. We feel strongly that the process will yield insights, innovation and inspiration.
How can I join the movement?
Start making more purchasing decisions that utilize minority-owned businesses. Be intentional in your efforts.