WHER Chat: Veteran-Owned & Women-Owned Businesses

WHER Chat: Veteran-Owned & Women-Owned Businesses

In honor of V-J Day, commemorating the end of World War II and the bravery of our veteran soldiers, NDILC member Erica Courtney, President of 2020vet and Zulu Time, U.S. Army Aviation, Major NATO Gender Advisor, highlights serious resource shortfalls for America’s women veterans face as entrepreneurs that the nation must be prepared to face in the near future in our 2020 NAWRB WHER, Volume III: Business Ownership.

Veteran women entrepreneurs possess traits that make them ideal business owners. Due to military training and knowledge, veterans are dependable, conditioned to make hard decisions, have integrity, take initiative and can adapt easily to challenging and evolving situations—all characteristics of a successful business owner. These women may see entrepreneurship as a means to prosper on their own terms by being their own boss.

This is a great time to be a woman veteran entrepreneur as we are the fastest-growing segment within the entrepreneurship community increasing by an astonishing 296 percent since 2007. Some of the reasons include a slight increase in women veterans; they are building businesses out of necessity; 40 percent of veterans are going into business for themselves as compared to the 10 percent Vietnam era entrepreneurs; more veterans have disability ratings than in wars past due to technology and better equipment; recent positive legislative changes; demand for third party corporate certification; and more available resources in terms of capital, education, and counseling.

It is important to note that despite the hurdles, veteran business owners have proven to be twice as successful in terms of revenue and business longevity, are twice as likely to hire other veterans, and contribute over $1.14T in sales receipts, $195B in annual payroll and employ over 5.03M employees. In 2012, veteran women-owned businesses were responsible for nearly 20 billion in receipts – an increase of 26.3 percent since 2007.

Veteran women continue to serve the United States by reinvesting and devoting themselves to the future, not through military service but through entrepreneurship. They are no stranger to hurdles and overcoming barriers as many dealt with this routinely while serving in a male-dominated profession. They are strong, smart, and driven, but we must understand specific challenges they face so we can help them be successful. 

Through entrepreneurship, many of the issues the community faces subside. Instead of masking the problem through medication prescribed at record rates, healthcare systems trying to keep up with a new demographic, and job placement programs in which the majority of veterans quit by year two, let’s put our efforts towards something that is working. It is not only a moral imperative that we take care of them but an economic one as well.

Find out more about NAWRB and how you can get involved and be a partner here!

About 2020 NAWRB WHER

The NAWRB Women Housing Ecosystem Report (WHER), our annual research report, provides the vision to revitalize communication and partnerships between industries as we work together to form mindful strategic solutions for social impact with a gender lens achievement. The 2020 NAWRB WHER includes the most diverse coverage of the Housing Ecosystem with almost eighty resources in six volumes: Diversity, Equity & Inclusion; Real Estate; Business Ownership; STEM; Access to Capital; and Aging Population. While waiting for the release of 2020 WHER, order a copy of the 2019 NAWRB WHER here!

 

Co-signed a private student loan? Here are tips to protect yourself during COVID-19

As the Coronavirus continues to affect the health of millions of Americans, it also continues to exacerbate the financial struggles that many individuals face during these times. It is critical for those with outstanding student loans to know their options when it comes to protecting themselves and their credit during the pandemic.

While the Coronavirus Aid, Relief, and Economic Security (CARES) Act provides federal student borrowers with financial relief, many private student loan lenders are now offering reductions or suspending payments. As a borrower, it’s imperative to stay up-to-date on the status of your loan, to communicate with your primary borrower about requesting relief if applicable, and to check your credit reports. For more information and tips, you can check out this article by the Consumer Financial Protection Bureau.

FDIC Names Five New Members to Its Systemic Resolution Advisory Committee

As it is quite well known, the Great Depression that started in 1929 had a devastating toll on the American economy, people, and spirit. Because of this, Franklin D. Roosevelt signed the 1933 Glass-Seagall Act which created the Federal Deposit Insurance Corporation. Through this, a new government agency was born to maintain stability and foster public confidence in national banks by insuring depositors in the case of bank failures. Eighty-seven years later, the FDIC still strives to protect depositors by insuring $250,000 per individual.

In 2011, the FDIC created the Systemic Resolution Advisory Committee (SRAC) in order to provide the FDIC with resources and solutions to a variety of financial issues and companies. With 16 members, the SRAC strives to analyze how the FDIC’s authority under the Dodd-Frank Act of 2010 can impact covered individuals and more.

On July 23rd, the FDIC named five new members to the committee. In addition to the current eleven members of the SRAC, the five new members are Dr. Ben S. Bernanke, Gary Cohn, Hon. Robert Drain, Timothy J. Mayopoulos, and Sandie O’Conner. Committee members are chosen based on their wide range of experience in managing complex firms; administering bankruptcies; and working in the legal system, accounting field, and academia.

Click here to view the press release!

Special Edition NAWRB Magazine: Diversity, Equity & Inclusion

 

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NAWRB is proud to introduce our Diversity, Equity, & Inclusion Volume 9, Issue 2 Magazine that offers an in-depth look into how the recent COVID-19 pandemic has affected diversity, equity, and inclusion in many facets of the housing and real estate ecosystem. This issue features the voices of different minority groups, who have all been affected by the current public health and economic crisis in unique ways – from Blacks and Asian Americans who have suffered from perpetual racial bias and discrimination in our nation’s troubled history to the adverse impact the pandemic has had on the aging population and the economic growth and security of women. Continue reading

2020 World Population Data: Growing Aging Population, Declining Total Fertility Rates

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Earlier this week, the Population Reference Bureau (PBR) released their 2020 World Population Data, which includes new population growth findings and insights into how the current global pandemic has impacted the 7.8 billion world population. The report shows that a growing aging population is being met with a decline in total fertility rates, and researchers expect that both population growth and aging will affect our resilience in the face of future crises.

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NDILC Member Teresa Palacios Smith Appointed Chief D&I Officer at HomeServices

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Women in the Housing & Real Estate Ecosystem (NAWRB) is proud to announce that NAWRB Diversity & Inclusion Leadership Council (NDILC) Member Teresa Palacios Smith has been named Chief Diversity & Inclusion Officer at HomeServices. Teresa previously served as Vice President of Diversity & Inclusion for the  franchise’s networks since 2017. Her new role will include elevating, expanding and aligning the national scope and impact of HomeServices’s collective diversity and inclusion initiatives across its company and subsidiaries.  

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VIDEO: Access to Capital – From Micro to Billions

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Women entrepreneurs have notoriously faced hardships in gaining access to capital, from lack of information and resources and local and state government assistance, to facing cultural biases from investors. Without adequate capital, women cannot make their creative ideas a reality, nor can they afford to maintain the businesses that provide jobs for a significant portion of the population. According to U.S. Census Bureau data, women own 36 percent of privately-held businesses and contribute $3 trillion to the economy due to job creation—creating 16 percent of jobs in the nation.

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SBA and Treasury Reveal Small Businesses that Received PPP Loans

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The U.S. Small Business Administration (SBA) and Treasury Department released detailed loan-level data regarding the loans made under the Paycheck Protection Program (PPP). The disclosed data covers each of the 4.9 million PPP loans that have been made thus far, and includes business names, addresses, NAICS codes, zip codes, business type, demographic data, non-profit information, name of lender, jobs supported, and loan amount ranges above or below $150K. 

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Fourth of July 2020: Tips for Staying Safe During COVID-19

Happy 4th

Today marks 244 years of independence for the United States! The Fourth of July is a day in which the nation celebrates the anniversary of the Declaration of Independence signed in July 1776. In commemoration of Independence Day, the U.S. Census Bureau has released interesting facts about the Founding Fathers, the nation’s changing population and the various ways Americans celebrate this national holiday.

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VIDEO: Experts on the Social Impact of Data Analytics, Recession & Climate Change

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Industry experts were worried about a possible recession even before the advent of the COVID-19 crisis, and these discussions took place during the 2019 NAWRB Conference. Watch the newly released video featuring Moderator Desiree Patno, CEO & President of NAWRB, Advisor of Amicus Brain, Chairman of NDILC; and CSO of Zulu Time; Marina B. Walsh, Vice President of Industry Analytics, Research and Economics, at Mortgage Bankers Association (MBA); and Brian De Lucia, Managing Partner at Arrivato LLC, as they discuss how industries in the housing and real estate ecosystem can achieve social impact through data analytics, and other factors that could have contributed to today’s recession. 

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