Nearly 2.5 million US veterans own their own small business. In fact, today more than one-in-four veterans in the workforce are running their own business, a rate that is 7.7 percentage points greater than the national average.
Common fields for veterans include landscaping, general contracting, painting, and plumbing. Veteran small business owners also have gravitated toward a diverse set of industries ranging far beyond home improvement, such as wellness, events, and professional services.
What binds this diverse set of small business owners together is that in running their own business, they are in a leadership position, managing projects, and client relationships—job elements that veterans are particularly well-prepared for.
Many veterans turn to entrepreneurship because their experiences in the military helped prepare them for a career in which they are their own boss.
While every business’ needs are different, being in a place where veteran-owned businesses are valued by clients, bankers, suppliers, and others can help provide a leg up in the potentially harrowing process of starting and growing a small business.