GLOBALMPG'S SERVICE BENEFITS
How Group Purchasing Can Help Your Minority Small Business
As a minority small business owner, you know that it takes a lot to run a business. Between office supplies, payroll, promotional products, and debt collection, it’s the little yet necessary things that add up quickly. If you’re like other small businesses, you’ve probably found that you pay more for all of these things because you lack the volume and scale of large corporations. However, there is a way that you can enjoy the same kind of cost savings as your big business counterparts. It’s called group purchasing.
What is a group purchasing organization (GPO)?
A group purchasing organization leverages the power of a group of businesses and helps them attain discounts on products they’re already buying. GPOs partner with larger businesses, known as suppliers or vendors, to provide their members with exclusive savings on products they need to run their business. GPOs are typically funded by administrative fees by suppliers, and there’s no cost for small businesses to join.