Billion Dollar Roundtable Elevates Veteran Owned Businesses
The twenty eight corporations that make up the Billion Dollar Roundtable (BDR) have voted to include Service Disabled and Veteran Owned Businesses (SD/VOBs) certified by the National Veteran Business Development Council (NVBDC) in their qualified diversity spend.
“This incredible next step in recognizing and accepting our certified SD/VOBs changes the entire market. The NVBDC is honored to have been named by the members of the BDR as their accepted SD/VOB certification body. To fully understand what this means to our veteran business owners; they must now accept their responsibility to adopt and embrace the corporate certification standards. We cannot stress enough that Veteran Businesses must realize the corporate certification standards are different than what the VA/CVE offers. Self-certification is obsolete and with this announcement the BDR has made it clear that certification of SD/VOBs must meet their “best practice” corporate standards”, said Keith King, President of the NVBDC.
The BDR stated:
- 1. Certification for these groups (service disabled and veteran owned) is required.
- 2. Acceptable certification for veteran-owned businesses will be from the National Veteran Business Development Council (NVBDC). The NVBDC is the only certifying organization that will qualify Veteran business diversity expenditures for BDR audits at this time.
- 3. Effective January 1, 2018, spending for these expanded demographic groups will be included and audited.
- 4. Many BDR member corporations are already counting and reporting spending from certified veteran-owned business enterprises. This change reflects this fact and keeps the BDR and its individual member companies fully aligned, and serves as a “best practice” for other corporations to begin tracking, reporting and focusing on diversity spend beyond minority-owned and women-owned businesses.
- 5. Membership requirements for the BDR remain at $1 billion of certified Tier 1 spending with the legacy minority-owned and women-owned businesses, as well as the inclusion of the Service Disabled and Veteran Owned Business certified ownership demographics.
“This is a giant leap forward for all SD/VOBs who have been seeking recognition by America’s leading corporations and want to pursue economic opportunities with them. We have to thank the members of the BDR for their leadership and encouragement of all corporations to begin tracking; reporting and focusing on Veteran business diversity spend. As a veteran and a business owner myself this announcement from the BDR is a game changer and it is our Veteran business owners’ responsibility to know that the opportunity comes with conditions”, concluded King.
The NVBDC is the only Veteran Owned Business Certification organization developed by Veterans, for Veterans. The purpose is to provide a credible and reliable certifying authority for all size businesses ensuring that valid documentation exists of Veteran ownership and control.