Last last month, Toyota and the National Veterans Business Development Council (NVBDC) announced an exclusive partnership involving veteran owned businesses. According to a press release, Toyota became a member of the certifying organization, making it the official certifying body for Service Disabled and Veteran Owned Businesses (SD/VOBs).
Toyota is a member of the Billion Dollar Roundtable, an organization that recognizes corporations that have spent at least $1 billion with diverse suppliers including minority, women, veteran, LGBT, and disabled businesses. In addition the automotive company was named ” by the National Minority Supplier Development Council (NMSDC) as the Corporation of the Year” in 2017.
The new partnership between Toyota and NVBDC will see the company expand its reach in selecting veteran owned businesses for contracts. While no goal was released for the amount of veterans Toyota is looking to connect with for 2018, expect there to be one soon along with a mandate for suppliers of Toyota to connect with veteran entrepreneurs as well. This move alone could help veteran suppliers win millions in automotive contracts over the next few years.