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.

Veteran Entrepreneurship: The Key to Boosting the Economy and Supporting Our Heroes. Here's How Legislators Can Take Action

Capt. Sherman Williams, who served during Operation Iraqi Freedom in the early 2000s founder of Body Aqua.

As a society, we bear responsibility for the men and women who have served our country. When these courageous individuals transition to civilian life, it is imperative that we do everything we can to support them in their endeavors. One way we can do this is by supporting veteran entrepreneurs. Veteran entrepreneurs are an integral part of the economy, contributing to job creation and economic growth. However, they often face extraordinary challenges when starting and growing their businesses, such as navigating the civilian business ecosystem and adapting to new business trends and technological advancements. By providing resources and support to veteran entrepreneurs, legislators can help these heroes succeed and contribute to the overall prosperity of their communities. 

There are numerous reasons why legislators should support veteran entrepreneurs. Here are a few to consider before diving into the local economic benefits of supporting veteran entrepreneurs.

Veteran entrepreneurs contribute to economic growth: Veteran entrepreneurs are a vital part of the economy and contribute to job creation and economic growth. By supporting veteran entrepreneurs, legislators can help to stimulate local economies and promote a prosperous economy.

Veteran entrepreneurs face unique challenges: Transitioning from military to civilian life can be challenging, and veteran entrepreneurs often face distinctive challenges when starting and growing their businesses. Legislators can help to level the playing field by providing resources and support for these entrepreneurs.

Supporting veteran entrepreneurs is good for society: In addition to the economic benefits, supporting veteran entrepreneurs is also good for society as a whole. Veteran entrepreneurs often bring valuable skills and experiences to their businesses, and their success can have a positive impact on their communities.

It is the right thing to do: Finally, supporting veteran entrepreneurs is simply the right thing to do. These individuals have served our country and deserve our support as they transition to civilian life and pursue their entrepreneurial goals.

By supporting veteran entrepreneurs, legislators can help these heroes succeed and contribute to the overall well-being of their communities and the country. In addition to the economic benefits, supporting veteran entrepreneurs is also a benefit for society as a whole. 

Below, we will explore the many reasons why legislators should support veteran entrepreneurs along with the specific ways that they can take action to help these heroes thrive in the civilian economy.

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There are many ways that legislators can support veteran entrepreneurs in their transition from military to civilian life. Here are a few examples:

Provide funding for veteran-owned businesses: Legislators can allocate funds specifically for veteran entrepreneurs to start or grow their businesses. This can be in the form of grants, loans, or other types of financial assistance.

Create tax incentives for veteran entrepreneurs: Legislators can also create tax incentives for veteran entrepreneurs, such as tax breaks or credits for starting or growing a business.

Offer resources and training: Legislators can work with organizations that provide resources and training for veteran entrepreneurs, such as mentorship programs, business planning workshops, and networking events.

Promote veteran-owned businesses: Legislators can also help promote veteran-owned businesses by highlighting their success stories and encouraging the public to support them.

Create policies that support veteran entrepreneurs: Legislators can also create policies that make it easier for veteran entrepreneurs to start and grow their businesses, such as streamlined licensing processes or reduced fees.

Partnering with veteran-focused organizations: Legislators could consider partnering with veteran-focused organizations, such as veteran service organizations or military-focused incubators, to support veteran entrepreneurs. These organizations often have valuable resources and expertise that could be leveraged to help veteran entrepreneurs succeed.

Offering targeted technical assistance: Legislators could consider offering targeted technical assistance to veteran entrepreneurs in specific industries or sectors. For example, a legislator might work with a local university or business development center to provide specialized training or mentorship for veteran entrepreneurs in the tech industry.

Providing support for veteran entrepreneurs who are also farmers: Many veteran entrepreneurs are interested in starting or growing farms or agricultural businesses. Legislators could consider providing resources and support specifically for these entrepreneurs, such as funding for equipment or training in sustainable farming practices.

Supporting veteran entrepreneurs who are also minority-owned businesses: Legislators could also consider supporting veteran entrepreneurs who are also minority-owned businesses, as these entrepreneurs may face additional challenges in starting and growing their businesses.

Encouraging federal contracting opportunities for veteran-owned businesses: Finally, legislators could work to increase federal contracting opportunities for veteran-owned businesses. This could include lobbying for changes to federal procurement policies or working with federal agencies to increase their outreach to veteran entrepreneurs.

In conclusion, veteran entrepreneurs deserve our support and appreciation. These heroes have served our country and now bring valuable skills and experiences to the civilian economy. By supporting veteran entrepreneurs, legislators can help these individuals succeed and contribute to the overall prosperity of their communities.

Essentially, there are many ways that legislators can support veteran entrepreneurs, including providing funding, creating tax incentives, offering resources and training, promoting veteran-owned businesses, and creating policies that make it easier for these entrepreneurs to start and grow their businesses. By taking action in these areas, legislators can make a real difference in the lives of veteran entrepreneurs and help them thrive in the civilian economy.

We encourage legislators to consider the many benefits of supporting veteran entrepreneurship and to take action to support these heroes as they transition from military to civilian life. Together, we can create a brighter future for veteran entrepreneurs and their communities.

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