CHICAGO, March 4, 2021 /PRNewswire/ — In honor of Women’s History Month, Bunker Labs has published a curated list of women-owned businesses in its current Veterans in Residence cohort and invites the community to support and shop the list.
According to data from the Small Business Association, women veterans start businesses at a rate that is nearly double their representation in the veteran population. Roughly 8.5 percent of veterans in the United States are women, and women own 15.2 percent of all veteran-owned businesses.
The number of women veteran-owned companies has risen significantly in recent years, according to the SBA. In 2012, there were 384,574 veteran women-owned businesses, nearly triple the number from 2007. As a percentage, the share of veteran-owned businesses owned by women over the same period nearly quadrupled, growing from 4.0 percent to 15.2 percent.
At the same time, women veterans continue to face systemic inequity, especially when it comes to funding. According to an SBA report, in fiscal year 2015, the SBA made 3,354 loans to veteran-owned small businesses. Of those loans, just seven percent went to women-owned businesses. In terms of total dollars lent, the SBA gave $1.38 billion in loans to veteran-owned businesses in FY 2015, and $87.31 million (6.3 percent) went to women veteran-owned businesses.
The 2020 Bunker Labs Entrepreneur Insights Study, which surveyed the Bunker Labs community of military veterans, spouses, and family members, found a similar trend. According to the study, women who own businesses were three times less likely to be approved for PPP funding than their male counterparts.
This Women’s History Month, Bunker Labs invites the community to recognize and support women entrepreneurs and small business owners in the military community including:
- Suhl Life, an herbal self-care and beauty product company founded by U.S. Army Veteran Ariana Ferguson,
- The Broom List, a matchmaking firm dedicated to pairing successful marriage-minded Black professionals, founded by Minnesota National Guard veteran Tennesha Wood
- Mutt’s Sauce, a sauce and spice company founded by U.S. Air Force veteran Charlynda Scales
Browse and shop the full list of women entrepreneurs and small business owners with retail products and consumer services in Bunker Labs’ current Veterans in Residence cohort at: https://bunkerlabs.org/womens-history-month/
About Bunker Labs: Bunker Labs is a 501(c)(3) nonprofit and a national network of veteran and military spouse entrepreneurs dedicated to helping the military-connected community start their own business. Bunker Labs is committed to seeing that every entrepreneur and small business owner in the military-connected community has the network, tools, and resources they need to start their own business.
View original content to download multimedia:http://www.prnewswire.com/news-releases/bunker-labs-shares-list-of-women-owned-businesses-to-support-this-womens-history-month-301240752.html
SOURCE Bunker Labs