Did you know that veteran-owned enterprises considered “small businesses” make up the majority of vet-owned operations? Or that some sources claim just shy of 80% of veteran businesses earn sales at six digits or better? Just short of 40% bring in annual revenue of half a million dollars or more, according to Veterans.com. National Veterans Small Business Week starts Nov 1 – 5, 2022.
But veteran businesses started declining circa 2011, at least in terms of how many people were doing it versus issues like retirement and aging out of the workforce. A 2018 report by the credit reporting agency Experian revealed why some vets may be hesitant to start a business.
“The challenge for many veterans is the lack of a strong business or personal network with which to begin their new ventures.”
