Why is it important for new women owned businesses to get verified?
When companies are looking for inputs, reliability is important. Sometimes established companies want to help small businesses but are afraid of the risk that this comes with. What if the business doesn’t have the capacity to fill the order? What if the business goes bankrupt before filling the order?
Successful businesses know that their products and services need to be delivered on time so taking a risk on small companies who haven’t had time to build up good reputations doesn’t always make sense. But then again, if these businesses are never given the opportunity to build a good reputation for themselves, how are they ever supposed to succeed?
Our solution: the SheTrades Verification system
Verifiers increase the credibility of women-owned businesses on SheTrades by confirming that these businesses are a part of their network.
Who can be a verifier?
Trade and Investment Support Institutions, Chambers of Commerce, International Organizations, NGOs and Professional Associations can register with ITC as SheTrades ‘verifiers’ and help new women owned businesses start out with a reliable name.
By becoming a verifier, institutions are able to confirm that businesses on SheTrades are a part of their network. In this way women gain credibility and the perceived risk of potential business partners is lowered: so more deals are made with women-owned businesses.