Women veteran-owned businesses (WVOBs) in the U.S. need to contend with the effects of public stereotypes and misaligned resources. According to statistics, WVOBs have more economic impacts than other businesses because of women serving as the main breadwinners in 40% of households in the U.S. Thus, supporting them can help build stronger families, grow the American economy and support thriving communities.
WVOBs represent 15.2% of all veteran-owned businesses in 2015, but 97% of them do not employee anyone. In addition, the National Women’s Business Council found that a female veteran earns only $0.07 for every dollar that a make veteran makes in his business.
These disparities can be attributed to the lack of available resources to meet the immediate needs of women veteran business owners. Many agencies are either unable or unwilling to provide the financial and social capital that WVOBs need to grow their business. Moreover, women are often not considered in developing the types of services and locations to help small businesses.
There are six women veterans in the U.S. Congress that have started taking action to address the problems of WVOBs. This includes the launch of the House Veteran Affairs Committee’s Women Veterans Task Force and the creation of the Servicewomen and Women Veteran Congressional Caucus.
There is another movement in Texas that aims to strengthen the voices of WVOBs. The Veteran Women’s Enterprise Center teamed up with the Dallas Federal Reserve Bank to launch the “Moments That Matter” research project. This survey project will focus on understanding the needs of WVOBs in the Dallas-Fort Worth area.
WVOBs should be considered when planning to provide financial support for the veteran communities. Their silent contributions to the local economy and community are potential gold mines and investing in them can offer significant returns.