history at a glance
- As consumers look to support businesses that align with their values, a new Yelp tool aims to facilitate that effort by allowing businesses to self-identify as veteran-owned.
- Internal data shows searches for veteran-owned businesses increased over 100 percent in the third quarter of 2022 compared to 2021.
- Yelp is also launching a new resource hub for veteran-owned businesses.
Yelp introduced a new feature to make it easier for users to support veteran-owned businesses ahead of Veterans Day on November 11th.
The new free tool will allow business owners to identify themselves as veteran-owned on their Yelp page, while all businesses that select the identifier will receive a free sticker to display in their storefront.
Internal data from the ratings app and website shows that searches for such establishments in the United States increased 101 percent in the third quarter of 2022 compared to the same period last year.
The company has previously launched similar initiatives to highlight businesses led by women and Black, Latinx, Asian and LGBTQ owners.
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Yelp will also create a $100,000 Veteran Business Fund to support former military personnel. A total of 10 veteran-owned small businesses will be selected to receive $10,000 each. Eligible businesses can apply for funds on the Yelp website.
A veteran-owned Business Resource Hub provides owners with tools, information, and insight into the company’s efforts to give businesses more visibility.
Around 18 million veterans live in the United States. Every year, 200,000 military personnel make the transition to civilian life.
More than 2.5 million businesses nationwide are owned by veterans, accounting for about 9 percent of all US businesses.
Research shows that veterans typically use their accomplishments to go to school once they leave the service and are subsequently recruited by Corporate America. Many veterans choose to start their own businesses in areas such as transportation, construction, travel, and real estate, among other things.
Additionally, more consumers are choosing to support businesses that align with their values, while the new Yelp tool can help make that easier, the company said.