At EventBuilder, we're passionate about creating events that connect communities across the globe. We're equally as committed to building a better future that extends beyond the realm of virtual conferences and flawless webinars. Our core values serve as our compass for fostering a more inclusive and equitable business landscape, starting with our own suppliers.
As a certified Women-Owned Business with an experienced team that's 80% women strong, we know firsthand the immense value diverse perspectives bring to the table. Here's why prioritizing supplier diversity, particularly women-owned businesses (WOBs) in the tech sector, strengthens both the economy and society as a whole.
WOBs are hotbeds of creativity and innovation, enabling companies across all industries to leverage new mindsets and unique perspectives for problem solving and meeting market needs. Studies show women-owned businesses are more likely to invest in research and development, leading to groundbreaking solutions across industries. By supporting WOBs in the tech space, we gain access to a wider pool of talent, ideas and approaches, ultimately propelling technological advancements at a faster pace.
WOBs are a powerful economic force! According to recent research sponsored by Wells Fargo, between 2019 and 2023, women-owned businesses in the U.S. alone contributed $2.7 trillion in revenue, and employed 12.2 million people. By consciously choosing WOBs as partners, we're fueling economic growth and creating a ripple effect of prosperity that benefits everyone. The rising tide of women-owned businesses truly lifts all boats.
Despite growing evidence that companies with more women in leadership roles are more profitable and do better in key areas such as R&D, the tech industry is still grappling with gender parity. While things are slowly improving for women in tech, sadly, women earn only 18% of computer science undergraduate degrees, despite the projection that computer science research jobs are expected to grow 19% by 2026. When we prioritize tech-focused WOBs, we actively contribute to closing the gender gap in leadership positions and blaze a trail for more women to pursue careers in technology. Not only does this approach foster a more diverse workforce, it also also serves as an inspiration for future generations.
We know who's watching!
WOBs are often deeply invested in their communities. Post-pandemic, 52% of women-owned businesses surveyed adopted remote or hybrid work policies, offering their employees more flexibility and reduced commute times for work-life balance, which particularly benefits parents and workers with disabilities - two talented yet vastly underrepresented populations in the workforce. Also, according to the U.S. Chamber and MetLife Small Business Index, 73% of women-owned businesses report donating to local charities, and 70% have donated goods and services to local events. Additionally, they're more likely to reinvest profits locally and prioritize social responsibility initiatives, health and education programs, and sustainable business practices. By supporting WOBs, we contribute to the overall health and well-being of our communities, creating a stronger social fabric for all.
When successful WOBs are given a platform to shine, it sends a powerful message to aspiring female entrepreneurs, demonstrating that success in tech is not just possible for women, but actively encouraged. This fosters a more inclusive environment and paves the way for a more diverse future in technology.
At EventBuilder, we're proud to champion supplier diversity. We believe that by working together, diverse businesses can create a more prosperous, innovative, and equitable future for everyone. As we integrate and process the incredible experience we've had at the WBENC Amplify Conference, we're headed home more dedicated than ever to seeking opportunities to apply our company values: people-first, compassion, and integrity, to furthering supplier diversity throughout the business landscape!