FACT SHEET: WOMEN VETERAN BUSINESS OWNERS
WOMEN VETERANS IN BUSINESS:
In 2007, veterans represented about 10 percent of the civilian population age 18 and older (about 23 million). Of these 23 million veterans, about 7 percent, or 1.5 million, were women.
Four percent of veteran-owned firms are also women-owned, totaling nearly 100,000 firms.
Given that 7 percent of veterans were women at the time of data collection, this suggests that veteran women business owners are keeping pace with their nonveteran counterparts.
Veteran women-owned firms earn $15.8 billion in receipts annually.
10 percent of veteran women-owned firms have employees, totaling 10,000 veteran women-owned employer firms. These firms employ nearly 70,000 people.
The Office of the Actuary has predicted that the proportion of female veterans will increase from less than 10 percent in 2010 to nearly 18 percent in 2018. This could impact the participation rates of women veterans in business ownership.
VETERAN WOMEN-OWNED BUSINESSES BY INDUSTRY:
Women veterans who own businesses tend to go into industries similar to those of their nonveteran counterparts. They are slightly more likely to be in the health care and social assistance sector, which is the most common sector for women-owned, veteran-owned businesses, comprising 18% of these firms.
Veteran women-owned firms in construction, wholesale trade, manufacturing, accommodation and foodservice; management of companies and enterprises, and health care and social assistance were the most likely to have employees. With the exception of health care and social assistance, firms in these industries tended to be the highest- earning as well.
VETERAN’S EMPLOY OVER 8.2 MILLION PEOPLE:
14% of firms are owned at least 50% by veterans, totaling nearly 3.7 million firms.
- There are nearly 2.5 million veteran-owned firms in the US, comprising more than 9 percent of all firms. Another 1.2 million firms are owned equally by veterans and nonveterans, constituting 5% of firms.
Knowing that veterans constituted 10% of the civilian population age 18 and above (at the time of data collection), it appears that veterans just as entrepreneurial as non- veterans, if not more so.
About one-fifth of firms owned at least 50% by veterans have employees. This is comparable with the general population of US firms, and adds up to 490,000 veteran- owned firms, and 270,000 equally veteran-/nonveteran-owned firms. Together, these 760,000 firms employ over 8.2 million people.
Women veteran business owners make important contributions to the US economy. This is especially important as the proportion of female veterans increases in the next five years.
Women veterans in business display similar trends to their nonveteran counterparts for the most part. However, they are somewhat concentrated in the health care and social assistance sector.
2007 Survey of Business Owners, Public Use Microdata Set
2007 American Community Survey 1-Year Estimates. Via American FactFinder. Table ID: S2101.
2007 Survey of Business Owners. Via American FactFinder. Table ID: SB0700CSA02. http://www.va.gov/VETDATA/docs/quickfacts/Population_slideshow.pdf