Young Veteran Entrepreneurs On the Rise

December 17, 2013 - Posted By Vets Vehicles

veteran in uniform and business suit

Did you know that Veteran-owned businesses comprise over 9 percent of all U.S. businesses?

According to a 2012 study from the Small Business Administration, 2.4 million Veteran-owned businesses generated more than $1 trillion in receipts in 2012. The SBA also found that, on average, Veteran-owned businesses outlast companies in similar industries. According to Jonathan Lunardi, co-founder of MilitaryJobNetworks.com, this is due to veterans’ discipline and work ethic.

“Veterans stick with their plans and don’t jump to the next best thing as often as civilians do,” he said to VAntage Point. “In today’s volatile business world, consistent execution day in and day out can be a huge factor in success.”

Another finding from the SBA study shows that more and more young Veterans are started their own businesses. From 2007 to 2012, the percentage of veteran business owners under the age of 35 increased from 4.6 to 7.1 percent. This shows a contrast from non-Veteran business owners who showed a decline in the same age bracket in the same period time.

These findings suggest that more and more young Veterans are using entreprenuership to help themselves and their communities. If you are a Veteran interested in starting your own business, consider participating in the VA’s entrepreneurship training which is provided by the GI Bill.