Empowering Female Veteran Entrepreneurs: A Call to Action for Legislators

Introduction
Female veteran entrepreneurs represent an essential yet often overlooked demographic within the entrepreneurial community. These women bring discipline, leadership, and resilience honed through military service to their business ventures. Yet, they face unique systemic challenges, including barriers to capital, inadequate mentorship networks, and difficulty accessing government resources.

National Invest In Veterans Week® (NIVW), under the visionary leadership of Angel Shuford, Vice President & CFO, has been instrumental in addressing these issues. Initiatives like FeMil℠ and FeMil Lead℠ provide tailored support for female veterans at all stages of their entrepreneurial journey. Legislators now have the opportunity to build on this momentum by supporting transformative solutions, such as the proposed Invest in Veterans Stimulus Act.

The Challenge: Systemic Barriers for Female Veteran Entrepreneurs

Access to Capital

Surveys conducted during the Jacksonville Vetrepreneur Summits revealed that over 67% of veteran entrepreneurs identify a lack of funding as their primary barrier to success. Female veterans face even greater difficulties securing loans or venture capital due to biases and systemic inequities in the financial system.

Mentorship and Networking

Despite their strong leadership skills, female veterans frequently lack access to structured mentorship programs and networks of experienced entrepreneurs. The 2018 Jacksonville Summit showed that while 56% of veteran entrepreneurs attended business events, most lacked access to sustainable mentorship and collaborative networks.

Scaling and Sustainability

While female veterans are eager to start businesses—70% planned to launch ventures within two years in the 2018 survey—many face challenges scaling their operations. Without targeted resources and government support, these businesses struggle to achieve long-term sustainability.

FeMil℠ and FeMil Lead℠: A Comprehensive Solution

Angel Shuford’s initiatives, FeMil℠ and FeMil Lead℠, offer a multi-layered approach to empowering female veteran entrepreneurs:

FeMil℠: Supporting Aspiring Entrepreneurs

Focused on veterans at the beginning of their entrepreneurial journey, FeMil℠ offers:

• Networking Opportunities: Facilitating connections with peers, mentors, and industry leaders.

• Resource Access: Tailored guidance for navigating the complexities of business formation.

• Funding Education: Helping female veterans understand and secure startup capital.

FeMil Lead℠: Scaling Established Businesses

For entrepreneurs with existing businesses, FeMil Lead℠ provides:

• Advanced Training: Leadership development programs tailored for scaling enterprises.

• Strategic Growth Tools: Access to technologies and resources for business expansion.

• Mentorship Programs: Personalized support from seasoned entrepreneurs.

Both initiatives align with the mission of National Invest In Veterans Week®, observed annually from March 1–7, which celebrates the contributions of veteran-owned businesses.

Legislative Proposal: The Invest in Veterans Stimulus Act

The Invest in Veterans Stimulus Act, a policy framework inspired by NIVW’s research, is designed to address the systemic barriers faced by veteran entrepreneurs. Legislators can play a pivotal role in its implementation by supporting its transformative components:

1. Financial and Tax Incentives

• Startup Tax Credits: A one-time $15,000 tax credit for veterans launching businesses in high-growth sectors like technology, renewable energy, and logistics.

• Low-Interest Loans: An expanded Small Business Administration (SBA) program with a 2% interest rate reduction for veteran-owned businesses.

• Hiring Incentives: Employers hiring veterans receive a $6,000 tax credit per veteran employed.

2. Mentorship and Training Networks

• Veteran Entrepreneur Mentorship Network: Structured programs connecting veterans with experienced business leaders.

• Specialized Training: Expanding programs like Boots to Business with tracks in AI, cybersecurity, and green technology.

3. Networking and Infrastructure

• Veteran Business Development Centers: Hybrid hubs offering in-person workshops, grant application assistance, and business coaching.

• Virtual Resource Platforms: Centralized online tools providing mentorship access, funding databases, and collaboration spaces.

4. Public-Private Partnerships

• Innovation Grants: $300 million annually to foster collaboration between veteran-led businesses and private corporations.

• Corporate Tax Incentives: Encouraging private-sector investment in veteran-owned startups.

5. Streamlined Federal Contracting

• Simplified Processes: Leveraging AI to reduce administrative burdens and streamline applications for federal contracts.

• Priority Access: Reserving 12% of federal contracts for veteran-owned businesses in critical industries.

Research-Driven Insights: Findings From Jacksonville Summits

Key Statistics

• 2017 Survey:

  • 37% of respondents identified access to capital as their biggest challenge.

  • 67% needed increased funding support to sustain their ventures.

• 2018 Survey:

  • 47% applied for funding but faced significant obstacles.

  • 70% of participants planned to start businesses, but most lacked the tools to do so effectively.

Impact of Mentorship

• 96% of respondents in 2018 reported that mentorship and resources shared at veteran events helped accelerate their ventures.

The Economic and Social Impact

Veteran-Owned Business Growth

Veteran-led businesses already contribute over $1.2 trillion annually to the U.S. economy. By eliminating barriers, the Invest in Veterans Stimulus Act could increase veteran-owned businesses by 25%, creating 1.5 million new jobs by 2030.

Innovation in Key Sectors

Veteran entrepreneurs are driving progress in:

• Technology: From AI to cybersecurity startups.

• Healthcare: Expanding telemedicine and mental health services.

• Sustainable Energy: Developing green technologies to combat climate change.

Implementation Plan

Phase 1: Pilot Programs

• Geographic Focus: Veteran-dense states like Texas, Florida, and California.

• Sector Focus: High-growth industries including AI, renewable energy, and logistics.

• Metrics for Success: Increase in veteran-owned startups, job creation, and ROI from tax incentives.

Phase 2: Nationwide Rollout

Using insights from the pilot phase, expand programs across all 50 states, ensuring long-term sustainability.

Budget

• Total Cost: $2.8 billion over five years.

• Funding Strategy: Redirect funds from underperforming federal programs and secure corporate sponsorships through tax incentives.

Conclusion: A Path Forward

The Invest in Veterans Stimulus Act represents a comprehensive, bipartisan approach to empowering veteran entrepreneurs and driving economic growth. By removing systemic barriers, enhancing mentorship networks, and providing targeted financial resources, this legislation will enable veterans to thrive as innovators and leaders in emerging industries.

National Invest In Veterans Week® invites legislators, businesses, and community leaders to join its mission of honoring veterans’ service by equipping them with the tools to succeed in entrepreneurship. Together, we can ensure that veterans not only transition successfully to civilian life but also lead the way in shaping the future of the global economy.

Discover More About National Invest In Veterans Week®

National Invest In Veterans Week® is at the forefront of transforming opportunities for veteran entrepreneurs, driving innovation, and promoting inclusivity on a global scale. Explore the groundbreaking initiatives, inspiring stories, and legislative proposals shaping the future for veterans worldwide:

1. Global Veterans’ Voices: Inclusivity at the Heart of International Veterans Day
   Gain insights into the global movement prioritizing inclusivity and collaboration among veterans across borders. Read more: Global Veterans’ Voices

2. National Invest In Veterans Week®: Empowering 62 Markets Globally
   Learn how National Invest In Veterans Week® has expanded its reach to 62 global markets, creating unparalleled opportunities for veteran entrepreneurs. Discover the details: Empowering 62 Markets Globally

3. Comprehensive Proposal: The Invest in Veterans Stimulus Act
   Dive deep into the legislative proposal designed to break barriers and foster veteran entrepreneurship through financial incentives, mentorship programs, and innovative solutions. Read the full proposal: Invest in Veterans Stimulus Act

4. Media Center Spotlight: Proposal for The Invest in Veterans Stimulus Act
   Discover how this proposal is reshaping veteran entrepreneurship and driving equitable growth across key industries. Explore the media coverage: Media Center – Proposal for The Stimulus Act

Join the movement to honor and empower our veterans by exploring these resources and supporting veteran-led initiatives. Visit National Invest In Veterans Week® for more information.