Diversity in Electronics: SWaM
Celebrating SWaM Certification in Virginia
Mobius Materials is proud to be the first Small Women and Minority Owned Business (SWaM) selling electronic equipment, components, parts and accessories (NIGP code 28700) in the state of Virginia. We are proud to be supporting diversity in the heavily male dominated electronic components industry. “Being a SWaM Business is a real source of pride for us and a source of value for our customers.” shares Margaret Upshur, Mobius Materials CEO.
The Rigorous SWaM Certification Process
Nationally recognized by thousands of major U.S. corporations and federal, state and local government entities, the SWaM certification is a lengthy and intensive process. To achieve the certification, women-owned businesses complete formal documentation about almost every aspect of the business.
Addressing Gender Disparities in Electronics
There is a major gender gap in the electronic components and semiconductor industries. According to the latest 2022 Semiconductor Gender Parity Study from the GSA, women only hold 16% of board positions and 13% of executive positions at public semiconductor companies. In addition, according to the U.S. Bureau of Labor, only 11.8% of electrical and electronics engineers – and just 8.7% of mechanical engineers – are women.
4 Benefits of Partnering with a Certified SWAM Business
1) Receive Tax Incentives
Working with a SWaM-certified business can provide your company with many tax benefits. Tax liabilities are reduced for projects funded with federal or state grants or loans when the supplier is a women-owned business. When you partner with Mobius Materials, we can provide you with certification information needed for tax purposes.
2) Open New Sources of Revenue
The Hackett Group found that organizations maintaining sustained supplier diversity initiatives boasted a remarkable 133% higher ROI compared to those dependent on conventional supply sources.For every $1 million dollars expended on procurement operations, entities with diversified suppliers witnessed a $3.6 million in net earnings. These companies also saw a reduction in operating expenses, achieving a 20% savings on procurement costs.International firms dedicate about 7.2% of their procurement budgets to businesses owned by diverse groups and project this to increase to 13% by 2025. When you buy electronic components with Mobius Materials, you can join other companies who seek to improve their return on investment.
3) Promote Innovation and Creativity
Smaller companies can innovate faster and bring more creative solutions to bear. As a smaller company, we have the advantage of agility. We make course corrections that meet the needs of our clients with faster turn-around time than larger peers.The electronics industry can be slow moving, as entrenched distributors and semiconductor companies try to hold market share. However, we are committed to pushing forward innovation constantly in our products and services.
4) Show Your support for Diversity
By working with a women-owned business you show your company’s commitment to working in diverse markets and improving the gender gap in the electronics industry. Your business will be more attractive to corporations optimizing the diversity of their second-tier sourcing. Investors and shareholders also track diversity of sources and frequently make investment decisions this way.
Addressing Gender Disparities in Electronics
The SWaM certification validates that a business is 51 percent owned, controlled, operated, and managed by a woman or woman. For more information about the SWAM certification, you can visit: https://www.virginia.gov/agencies/department-of-small-business-and-supplier-diversity/
