Veteran Women Are Realizing Their Economic Strengths
While less veteran men may be starting businesses in recent years there seems to be a growing trend of women finishing their services with the military and becoming entrepreneurs. There are multiple factors causing this spike, the main factor stemming from the necessity of money.
More Female Soldiers
There have been more women joining the armed services each year and with this rise in enlisting females comes a rise of women leaving the services and looking to transfer back into civilian life. Many women are having a tough time translating their military experience into the economy. This loss of translation is shown with over 11% unemployment among veteran females.
Business Is Up
Some of these women are realizing that they have the ambition needed to start their own business and are doing just that. The number of veteran females starting their own business rose from 130,000 to over 384,000 between 2007 and 2012. The growth with women vets is higher than with any other sector of the economy.
With all the growth in the female vet sector, there is a decrease in joint owned businesses. Most joint owned businesses are married couples, but recent trends show that women are becoming more confident in owning their own business without any male counterpart.
Even though there is an upward trend of women starting businesses many of those ventures need to be built to grow. There seems to be a lack of businesses that are being built with a framework that will scale up with growth. Amanda Brown, Executive Director of the NWBC recognizes this saying, “We have to shift the focus to scaling these businesses.”
Lending a Hand
Building a business to grow requires the know-how to build an existing idea in ways previously not considered. Many women who are finding difficulties in business ventures are turning to one or more initiatives aimed at supporting women vets looking to start a business. Syracuse University’s boot camp for veteran entrepreneurs with disabilities is one group that is giving women the knowledge or at least the support and understanding in their situation to drive veteran women to be successful with their ideas.
Groups like this and other incentives offering support and funding are just these vets are needing at a time when they have done so much for a nation finding themselves lagging in the economic skills to make it in a place that has grown during their time of service.
Crucial Funding Makes Business Happen
From accounting to dog meal replacement bars many ideas are finding themselves to work out when grown in the proper environment. The courage, strength, and knowledge learned during service are giving women a platform to look around and find where they want to aim for next, and many groups are throwing these women the rope needed to climb to those heights.
Kristina Guerrero of Turbopup knows this well after winning a $25,000 grant from Syracuse University’s V-WISE (Veteran Women Igniting the Spirit of Entrepreneurship). This was the crucial finding that Kristina needed to get her meal replacement bars for dogs business off the ground. Since then the company has received another $100,000 from the hit reality show Shark Tank.
Another success story is that of Tabatha Turnman who began her business doing accounting work through subcontracts from the government entities. She has since then grown to 100 employees and touts about $10 million in revenue. It’s these women’s ability to see their strengths and how their ideas can grow and develop into the economy that is part of why many like Tabatha and Kristina succeed in creating businesses.
The Advantage of Contracting
Not all of these businesses are relying on group support and many women are finding that the simplicity of modern contracting is helping them to achieve their business goals. Many business leaders are looking at contract work both in a way of offering their services and how to build their own business without having to rely solely on one individual. Business owners are able to retain their own idea and businesses while outsourcing single aspects of a business out to others.
Women vets are also realizing that they do not need traditional work in order to make a living. Diverse lifestyles and schedules make the idea of contracting out a person’s skills more appealing now than ever before. Women are finding that they can keep their life the way it is and work during the times they have available when they use these contracting services.
Women are realizing the freedom they have available to them when thinking outside the box about income. These trends are a good sign for vets who may not always get the best end of the deal when it comes to how their country treats them.
Thanks for your time today. I hope this article was informative.
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