Veteran entrepreneurs are increasingly showing their capacity to launch and grow successful startups. Military veterans are among the most esteemed individuals in the United States today as they have done a tremendous job serving their country as well as providing aid to other countries all around the world.
According to the U.S. Department of Veterans Affairs, there are more than 22 million veterans living in the United States. When returning to civilian life, many aspire to become entrepreneurs and start their own business. Of the approximately 28 million businesses in the United States, about 2.4 million (8.5 percent) are owned by veteran entrepreneurs. You can find veteran entrepreneurs launching startups in every industry sector including manufacturing, consulting, service industries, technology, safety and much more.
Despite the current economic situation, there are many funding opportunities geared towards veterans such as the SBA Express Loan Program which can provide funding up to $350,000 with a quick processing time.
Read on to learn more about some of the unique opportunities available for veteran entrepreneurs as well as some important considerations for those ready to take the next steps towards entrepreneurship.
From Ron Flavin this month
High levels of grit, determination and discipline are just three of the many reasons that military veterans make great entrepreneurs. Just like being a great soldier, being a successful entrepreneur requires all three of these often elusive qualities. If you feel you could improve in any of these areas, here are some great resources for you:
There are also some excellent books that discuss how the characteristics of a great military veteran translate to the entrepreneurial world. A favorite is Entrepreneurship After the Military: A Small Business Guide for Veterans.
After rendering their time and services for their country, veterans deserve all the help they can get to start anew with their lives upon returning home. For those who wish to transition to small business owners, there are several reliable sources of funding and other resources that cater to veterans.
As veterans move on from their post-military lives and seek to direct their experience and insights towards becoming entrepreneurs, there are many different programs available that provide funding for veterans who either already own a business or want to become a business owner.
Important Industry Happenings
- Eight tips for vets who want to start their own businesses (Via MilitaryTimes)
- 4 Ways Military Service Prepares You for Entrepreneurship (via Business.com)
- From Military Veteran To Entrepreneur (via Forbes)