Q. Why should I care about Supplier Diversity and what does it mean to my company’s bottom line?

A.  If your company or your customers are involved in the following industries:  government, auto, aerospace, consumer goods, transportation, defense, energy, food processing and others, you may be required to have a percentage of your company’s outsourcing with Minority Business Enterprises (MBE).  Corporations have realized that minorities are "buying groups" and by the year 2049, 51% of the U.S. will be comprised of "people of color".  If corporations want to increase revenues, they need to support MBE's and create jobs in minority communities.

Q. What is a Minority Business Enterprise “MBE”?

A.  The National Minority Supplier Development Council (NMSDC) and the Small Business Administration have recognized the following as ethnic minorities:  African Americans, Native American Indians, Asian-Indian Americans, Asian-Pacific Americans and (non-European) Hispanics. Principals must be U.S. citizens and the ethnic minority shall own, operate and manage no less than 51% of the firm and pass all the rules, regulations and audit requirements as established by the certifying council before becoming a certified MBE.

Q. Who certifies a MBE?

A.  The two most recognized agencies are the National Minority Supplier Development Council (NMSDC) www.nmsdc.org which is the oldest and most respected and the U.S. Small Business Administration (SBA) www.sba.gov.  The NMSDC authorizes Regional Councils either by State or Region, with 39 councils throughout the United States, Puerto Rico and Canada.

RCA is certified with the Michigan Minority Business Development Council (MMBDC) www.mmbdc.com , the Chicago Minority Business Development Council (CMBDC) www.cmbdc.org and the California Minority Supplier Diversity Council, www.thesupplierclearinghouse.com

Q. What are minority credits?

A.  Each dollar your company spends with an MBE is considered an MBE credit that qualifies in the computation of the percent of outsourcing to minority businesses with the following exception:  If an MBE is an equipment sales representative and not the manufacturer, then only the MBE sales commission is eligible for MBE credit and not the cost of the equipment.  The MBE must either manufacture or own the equipment for the buyer to receive the MBE credit.

Q. Why is leasing an excellent way to get MBE credits?

A.  Dollar for dollar the lease payments are eligible for MBE credit if the MBE lessor is full service i.e. bills, collects, handles tax payments and is the lessor on the lease document.

Q. Why choose Renaissance Capital Alliance (RCA)?

A.  RCA is one of the largest, most respected and fastest growing MBE lessors in the U.S. It’s President, Ronald E. Hall, Sr. has been a pioneer in the diversity movement and has helped numerous large companies join together with MBEs to achieve a "win/win" strategy.