J’nelle Lawrence and Jeff Hornstein’s article – “Buy local: How Philly’s biggest institutions can help create a more equitable post-coronavirus region” briefly shed light on the COVID-19 epidemic and its impact on minority small businesses. Anchor institutions, from hospitals to major corporations, spend billions of dollars per year outside the region. The real issue is figuring out how to keep these dollars in Philly. A simple yet effective solution to this is to create a dynamic platform for aggregating demand and going local.
Here is the core challenge from the article:
Most local firms lack the capacity and funds to achieve scale and compete for institutional contracts creating a major hurdle on the “supply” side.
GETTING ORGANIZED
The authors put forth a practical solution to organize, which is relevant for many localities across the USA. CG Global Management’s online platform can be the right avenue to address and clear all issues that the authors have mentioned.
- Project owners can fill the underserved categories via RFIs and the in-built Digital Matchmaker from the DivedIn product
- Using this tool, project owners can also control costs by managing “Diverse Tax Issues,” thus enabling small, diverse companies to participate in opportunities, despite high capital insurance and bonding costs.
- Similarly, prime vendors and diverse suppliers can join and collaborate with the Team Optimizer tool in the DivedIn product. This unique partnership allows them to access project opportunities that would have been out of reach. Each partner brings their strengths to the table and let others fill the gaps.
