According to an SBA report entitled “Veteran-Owned Businesses and Their Owners”, small business firms owned by veterans employed 5.03 million people, had an annual payroll of $195 billion and receipts of $1.14 trillion. The veteran-owned firms represented 9.1 percent of all U.S. businesses. That means former military members owns about one out of ten firms!
As we prepare as a nation to celebrate Memorial Day, let us not forget who should be at the front and center of the holiday. I realize this day is intended to honor the fallen, but I think it’s worth acknowledging all the living men and women who have served or are serving our country. They are indeed all heroes.
I have met my share of entrepreneurs from all walks of life and backgrounds, but there’s something that stands out about veteran business owners. Among other things, they tend to be hardworking, laser-focused, and disciplined. Here are a few qualities that make veterans inclined to succeed in entrepreneurship:
The NIIC offers a range of services to help any interested and motivated individual build, grow and scale their business venture. Reach out and let us know if you need assistance. If you are a vet-owned business what is the most valuable thing you have taken away from being in the service that has made a difference in the launch and growth of your business?
Share your thoughts in the comments. And, let me also say, thank you for your service.