Wells Fargo, NMSDC join forces to create three Minority Business Leadership Academies

New York -- Wells Fargo and the National Minority Supplier Development Council (NMSDC) have announced the creation of three Minority Business Leadership Academies, to enable minority suppliers to expand their business capabilities.

Beginning in 2019, the three Minority Business Leadership Academies will be held in Washington, DC, hosted by the Capitol Region MSDC; in Los Angeles, hosted by the Southern California MSDC; and in Houston, hosted by the Houston MSDC.

The Minority Business Leadership Academy program has four basic goals:

• Build the value proposition for each minority business owner;
• Enhance best practices in business development, organizational capabilities and scalability;
• Foster greater readiness to meet industry needs;
• Increase competitiveness when seeking contracts and opportunities in the global marketplace.

"Wells Fargo is committed to supplier diversity and developing diverse suppliers across the country," said Regina Heyward, head of Supplier Diversity for Wells Fargo. “In 2017, Wells Fargo spent $1.27 billion with diverse suppliers. We've invested in nine capacity building programs across the country, which will help more than 500 diverse suppliers in the upcoming year.”

NMSDC President and CEO Adrienne Trimble cited the value to minority supplier development of NMSDC’s ability to forge innovative partnerships with its corporate members.

“Minority-owned businesses nationwide employ 6.3 million people and generate annual revenue of more than $1.6 trillion,” Trimble said. “Wells Fargo consistently demonstrates its strong commitment to our supplier diversity programs that serve NMSDC-certified minority-owned businesses.”

In 2016, Wells Fargo collaborated with NMSDC and its national affiliate network to devise the Minority Business Leadership Academy concept, to help grow certified MBEs. In 2017, more than 80 minority business CEOs graduated from five Minority Business Leadership Academies.

Each of the Minority Business Leadership Academies represents a one-year commitment for a group of 15-20 qualifying applicants.

Participants must be MBEs representing businesses with at least $3 million in annual revenues. They must have a track record of high performance, offering quality products and services at market-competitive pricing. Each applicant’s business plan will be considered, to confirm financial solvency and positioning for growth. Preference will be given to current Wells Fargo suppliers and NMSDC-certified MBEs.