Billion Dollar Roundtable Spend Categories
Billion Dollar Roundtable Inc. (BDR) recently voted unanimously to broaden its metrics for diversity spending to include veteran-owned businesses, disability- owned business enterprises (DOBEs) and LGBT-owned businesses. The BDR will continue to include minority-owned (MBEs) and women-owned (WBEs) business enterprises as a spending metric for membership in the BDR.
Diversity spending for BDR members, and initial membership, is audited each year by an independent, third-party auditing firm. Effective January 1, 2018, spending for these expanded demographic groups will be included and audited. Certification for these groups is required. Acceptable certification for veteran-owned businesses will be from the National Veteran Business Development Council (NVBDC). Acceptable certification for LGBTB's will be from the National Gay & Lesbian Chamber of Commerce (NGLCC). Acceptable certification for DOBEs will be from the US Business Leadership Network (USBLN). These are the only certifying organizations that will qualify diversity expenditures for BDR audits at this time.
Membership requirements for the BDR remain at $1 billion of certified Tier 1 spending with legacy minority-owned and women-owned businesses, as well as the inclusion of these three additional certified ownership demographics. This inclusive approach is necessary for BDR to continue to be relevant to its members and to continue to lead and drive best practices in the supplier diversity space.