CBA Monthly Meeting: Small Business Procurement Opportunities, Tips for Starting a Small Business
William Burton, president and CEO, Professional Systems Inc., Information Technology Services.
Salen Churi, assistant director of the Institute of Justice, Clinic on Entrepreneurship, University of Chicago.
Mike Riordan, associate vice president of Strategic Sourcing, Art Institute of Chicago.
Mike Riordan, associate vice president of Strategic Sourcing for the Art Institute of Chicago, was one of two guest speakers at the Chatham Business Association’s (CBA) monthly membership meeting on Tuesday where he discussed small business procurement opportunities with the museum and the museum's school.
“We want the profile of our businesses to reflect the communities that we serve and we have many relationships with minority, female, gay and lesbian businesses in the communities we’re in,” Riordan told the audience.
Information on the Art Institute’s website, lays out its commitment to diversity, stating that in meeting its procurement needs, the Art Institute encourages its suppliers, to also make diversity a priority in the goods and services that they manufacture or provide to the Art Institute.
The Art Institute of Chicago requires that diverse suppliers be certified through accredited organizations such as:
Chicago Minority Supplier Development Council: affiliate.nmsdc.org/chicagomsdc
· Women’s Business Development Center: www.wbdc.org
· Chicago Area Gay and Lesbian Chamber of Commerce: www.glchamber.org
· City of Chicago Department of Procurement Services: www.cityofchicago.org
· Small Business Administration: www.sba.gov
“We see suppliers as extensions of ourselves,” Riordan said.
When asked by CBA member, William Burton, president and CEO of Professional Systems Information Technology, Inc., about the Art Institute’s outreach efforts to minority and small businesses, Riordan said, “We attend various events and we have a registration document.”
In terms of minority business inclusion, Riordan said, “The Art Institute does not have set asides (in general) but when there is a capital project, there are some set asides,” adding that the Art Institute currently has about 8 percent minority business participation.
Salen Churi, assistant director of the Institute of Justice, Clinic on Entrepreneurship with the University of Chicago Law School, served as CBA’s second guest speaker and laid out the top ten tips for starting a business.
Trademarking, product/market fit and budget, topped the list.
“Think seriously about every line item…everything your business will need from day one,” Churi said.
Churi also stressed giving serious thought to the name of your business, telling the CBA membership to keep it positive.
Karletta Kelly, CBA’s assistant executive director, shared news stating that the Art Institute, as a means of “beautification,” will display exhibits in the windows of empty commercial space located on Chicago’s south side. For more information, contact Karletta at (773) 994-5006.
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