Toronto government works to boost proportion of minority-led and diverse businesses receiving government contracts
- The city council has begun rolling out a social procurement framework for business development, which could lead to a policy in which one of three short-listed bids for city contracts would be from diverse or minority-led businesses (including those identified as immigrant, racial/ethnic minorities, women, and/or gay or lesbian).
- In 2012, 7% of bidders were minority-led or -controlled and received C$339 million in contracts, while in 2013, 5% were and received C$434 million.
- The city and business leaders acknowledge that the highest hurdles facing minority business owners are lack of awareness about minority-friendly programs, aversion to working with the government because of perceived rigidity, and self-selection out of the contracting process from fear of lacking necessary connections.
Read the full story at Inside Toronto.