Vendor Diversity

“The Vendor Diversity Program is important to Goldman Sachs for three reasons: One, it helps us provide the best possible solutions to clients by bringing talented, experienced professionals into our network. Two, it drives growth opportunities for these businesses, and we’ve seen time and again that our program partners pay it forward in their communities. And three, it is a chance for us to break down barriers to growth that still exist for minority business owners – and that’s critical for a healthy society.”

- David M. Solomon, Chairman and CEO, Goldman Sachs

At Goldman Sachs, a wide array of goods and services are needed to support our business operations, and we work hard to ensure that we partner with the best businesses available to achieve our objectives. 

Our Vendor Diversity Program gives us a platform to engage with small and diverse enterprises around the world. We strive to engage vendors that reflect the diversity of the communities where we live and work and of the clients we serve, and we look for vendors that can bring a range of perspectives to help us discover creative, effective solutions.

Our Goals for Vendor Diversity and Inclusion

Our Vendor Diversity Program aims to help break down barriers to market access for small and diverse enterprises and unlock commercial opportunities with Goldman Sachs.  We seek vendors that can continuously drive competitiveness and innovation in our supply chain. We also recognize the wider economic impact of partnering with small and diverse enterprises and supporting them in their growth. To further support business owners around the world, the firm provides access to education, networks and capital through our 10,000 Small Businesses and 10,000 Women initiatives. We have also committed to increasing our spend with diverse vendors by 50% by 2025. 

History and Milestones of Our Vendor Diversity Program

Our Vendor Diversity Program began in North America in 2000 before expanding to Europe in 2005 and Asia Pacific in 2009. In partnership with our vendors, we have introduced initiatives that aim to positively impact our employees, on-site construction workers and the community at large. The following major real estate projects reflect our commitment to working with diverse vendors across the world: 

  • In New York, we spent more than $300 million with minority- and women-owned businesses while constructing our global headquarters, which was the most successful project in the history of New York State’s Minority- and Women-Owned Business Enterprise Program at the time.

  • In London, we focused our spending on local small and medium-sized enterprises, hired local labor and provided nearly 200,000 hours of work to apprentices and trainees during the construction and fit-out phases of our new Plumtree Court office, which opens in 2019. 

  • In Bengaluru, more than 64% of construction shell and core spend and 33% of interior work spend for our new campus, which opens in 2019, was with diverse vendors. As in London, we supported an inclusive environment by offering free health camps and providing English classes to more than 1,000 workers.

We continue to partner with industry associations and work to leverage relationships developed through our initiatives. We are members and active participants of the following vendor diversity organizations: National Minority Supplier Development Council (NMSDC), Women's Business Enterprise National Council (WBENC) and WEConnect International

Diverse Vendor Definitions

Disability-Owned Business Enterprise (DOBE)

People with disabilities own and control at least 51% of the company.

Lesbian, Gay, Bisexual and Transgender Business Enterprise (LGBTBE)

LGBT individuals own and control at least 51% of the company.

Micro, Small or Medium Enterprise (MSME), Small or Medium Enterprise (SME) or Small Business (SB)

Definitions for MSME, SME or SB vary by location. We accept certifications from recognized certifying agencies where available. Where not available, we follow local government guidelines and may request additional documentation to verify status.

Minority-Owned Business

Minority group members own and control at least 51% of the company. Definitions for minority groups vary by location and include the following categories, where applicable: Asian, Black, Hispanic/Latino, and Indigenous peoples.

Service-Disabled Veteran-Owned Business

Service-disabled veterans own and control at least 51% of the company.

Social Enterprise Business (SEB)

A social enterprise business (SEB) is a for-profit or non-profit organization or venture that achieves its primary social or environmental mission using business methods.

Supported Business

A supported business employs disabled people as over 50% of its workforce.

Veteran-Owned Business

Veterans own and control at least 51% of the company.

Women’s Business Enterprise (WBE)

Women own and control at least 51% of the company.

Our Vendor Case Studies

Scarborough & Tweed

One of our longest standing women-owned business partnerships formed in 1992 when Lisa McCullagh started selling banker bags to traders on the pavement outside the New York Stock Exchange.

Learn More

Aramark

Aramark, our dining partner in our global headquarters in New York, works closely with the Goldman Sachs 10,000 Small Businesses program to introduce new suppliers to our onsite food offerings.

Learn More

Obelisk

A women-owned business and Goldman Sachs 10,000 Small Businesses graduate, Obelisk Legal Support Solutions works with over 35% of FTSE 100 companies.

Learn More

Join Our Vendor Diversity Program

Eligibility

Please refer to our Diverse Vendor Definitions Guide for our accepted definitions. As a firm, we take our reputation for excellence seriously and seek to align with business partners who share our commitment to quality. We expect all vendors to operate in accordance with the Goldman Sachs Vendor Code of Conduct
 

Application Process

If you are eligible and interested in joining our network of diverse vendors, please complete this prospective vendor form and return it via e-mail to vendor.diversity@gs.com. You must include a current copy of your diverse business certification from a recognized agency and/or self-certification documentation.

Upon review of your submission, we will contact you if there are relevant opportunities. Inquiries providing products/services not currently sought will be maintained for future consideration. Note that submission of the prospective vendor form is for informational purposes and any confidential information submitted will be for internal use only. It is not a guarantee of business and does not ensure “Approved” vendor status.

 

FAQs

Why does Goldman Sachs have a Vendor Diversity Program?

Our Vendor Diversity Program forms an important part of our ethical and responsible supply chain management. Diversity is at the core of our ability to serve our clients well, and we want our vendors to exemplify the diversity of our firm and our clients. Diverse businesses not only help drive competitiveness and innovation in our supply chain, but they also benefit the wider economy by creating jobs, strengthening communities and driving economic growth.

Does Goldman Sachs guarantee business for diverse vendors?

No, Goldman Sachs does not guarantee business to any vendor. We are committed to providing diverse enterprises an opportunity to compete on a fair and equal basis for our business.

What types of diverse businesses does Goldman Sachs work with?

Please refer to our Diverse Vendor Definitions Guide for our accepted definitions and certifications.

Does my company have to be certified as a diverse business to participate in the Goldman Sachs Vendor Diversity Program?

Yes, Goldman Sachs requires diverse business certification from a national, state or locally-recognized third party certification agency. In countries where third party certification does not exist, self-certification documentation will be reviewed on a case-by-case basis.

How does my business become certified as a diverse vendor?

Diverse business certification is a process managed by third party certification agencies. Please refer to our Diverse Vendor Definitions Guide for the relevant organizations that offer certification.

How do diverse vendors learn about upcoming opportunities to work with Goldman Sachs?

We welcome all eligible and interested diverse businesses to complete the prospective vendor form and return it via email to vendor.diversity@gs.com. Upon review of your submission, we will contact you if there are relevant opportunities. Inquiries providing products/services not currently sought will be maintained for future consideration. Note that submission of the prospective vendor form is for informational purposes and any confidential information submitted will be for internal use only. It is not a guarantee of business and does not ensure “Approved” vendor status.

I submitted my prospective vendor form to Goldman Sachs, but I have not heard back regarding opportunities. What should I do next?

Submission of the prospective vendor form is not a guarantee of business. Please keep in mind that there may not currently be a need for your products/services or we may be under contract with another vendor at present. Goldman Sachs will maintain your information for future consideration and reach out to you when relevant opportunities become available.