Female Veteran Entrepreneurs Struggle with Business Growth
When it comes to self-employment, women veterans revealed in a recent survey that they struggle to grow their businesses.
Of the 800 respondents (all female veterans who own businesses), 46% said they do not have structured business plans for the next one to two years, revealed the survey released by financial services company Capital One and nonprofit Count Me In for Women's Economic Independence.
"They also recognize that they have more to learn about building and expanding their business," the survey noted.
According to the survey, 28% want to learn how to attract new customers while 24% seek guidance in how to secure financing. Other issues expressed, besides business growth, include managing finances and developing a marketing strategy.
Respondents also shared thoughts on self-employment. 55% credit their entrepreneurial ambitions and leadership skills to military experience. 46% say that becoming a business owner helped them ease into civilian life.
“The energy and motivation that women veterans bring to their business ventures is unmatched," said Nell Merlino, Founder and President of Count Me In, which provides business education for female entrepreneurs. Its training and mentorship program Women Veteran Entrepreneurship Corps., in partnership with Capital One, will kick off in December.