Are you a veteran looking to start a business? With all the new business opportunities available to veterans, there’s never been a better time to become an entrepreneur. Whether you’re just starting out or have a business in mind, it’s important to take advantage of the resources available to you. This post will discuss some of the best business opportunities for veterans, and why you should consider taking advantage of them. Don’t miss out on the chance to become a successful business owner!
A Quick Look at Veteran Entrepreneurship
Veteran entrepreneurship is a growing trend among returning veterans, and it can be incredibly rewarding. According to the U.S. Small Business Administration (SBA), veteran-owned businesses have increased by nearly 30% in recent years.
This rise in veteran-owned businesses is due in large part to the hard work and dedication of veterans who are now looking for new opportunities in business ownership.
Veteran entrepreneurs bring a unique set of skills to the table that make them ideal for business ownership. Their military experience has given them a comprehensive understanding of structure and discipline, which is critical for successful business operations.
Veterans are also well-versed in areas such as project management, goal setting, and risk management. These traits make them excellent business owners and problem solvers, making them attractive candidates to investors and customers alike.
In addition to their specialized skillset, veteran entrepreneurs have access to many resources to help them start and grow their businesses. The SBA offers multiple grants, programs, and services dedicated to helping veteran entrepreneurs get started.
Also, there are numerous veterans’ organizations and advocacy groups that provide assistance in areas such as networking, financing, legal assistance, and more.
Finally, many veterans take advantage of their veteran status to receive additional benefits from the government. The Service-Disabled Veteran Owned Small Business Program offers veterans a preference in federal contracting opportunities, allowing them to gain access to a larger market share and compete on an even footing with other businesses.
Veteran entrepreneurship is an exciting opportunity for former service members to continue their service by launching successful businesses that serve their local communities.
With the right tools and support, these veterans can turn their military training into successful civilian careers and continue to serve their country in a meaningful way.
The Benefits of Veteran Entrepreneurship
Veteran entrepreneurship can be a rewarding and fulfilling career choice for those who have served in the military. There are numerous benefits to starting and running a business as a veteran, from both an economic and personal perspective.
For starters, veterans bring unique skills and experiences to their businesses that may give them an edge over non-veteran entrepreneurs. This includes knowledge of management, logistics, problem-solving, communication, and organization, which can be invaluable assets when running a business.
Veterans also often possess the determination and discipline needed to succeed, allowing them to develop and build upon their ideas.
Veterans are also eligible for a range of government-backed resources to help them establish and grow their businesses. These include programs such as the Veterans Entrepreneurship and Small Business Development Act of 1999, which provides grants to assist veterans in becoming self-employed.
The SBA also offers programs to aid veterans in financing their businesses.
Starting a business as a veteran can also be financially beneficial. According to the U.S. Small Business Administration, the average net worth of veteran-owned businesses was $200,000, more than twice that of non-veteran-owned businesses.
Veteran-owned businesses tend to enjoy higher sales and profits than non-veteran-owned businesses.
Finally, starting a business as a veteran can provide an outlet for veterans to express themselves and make a difference in their communities.
Many veteran-owned businesses focus on providing services or products that are meaningful and beneficial to the community. By doing this, veterans can play an important role in helping to create jobs, stimulate the economy, and improve the lives of those around them.
In short, there are many advantages to starting a business as a veteran. From financial benefits to being able to make an impact in your community, veterans can enjoy a number of advantages by taking the leap into entrepreneurship.
Whether you’re looking to start a business from scratch or take over an existing one, there’s no doubt that veteran entrepreneurs have a lot to offer and can have great success.
The Top 10 Veteran-Owned Businesses
Veterans have a long history of stepping up to the challenge of entrepreneurship. The unique skills, experience and dedication veterans bring to the business world have made them some of the most successful entrepreneurs in the world.
Many veteran-owned businesses have become household names, from major corporations to small businesses.
When looking for the top veteran-owned businesses, there is a wide variety to choose from.
Here are the top 10 veteran-owned businesses according to Entrepreneur Magazine:
- USAA – The United Services Automobile Association, founded by military officers, is now a Fortune 500 company providing banking, insurance and financial services to over 12 million members worldwide.
- Vinnovate Ventures – Founded by retired Army Lt. Colonel Tim Lawrence, this venture capital firm has invested in more than 75 early-stage companies since 2010.
- Veterans United Home Loans – This mortgage lender specializes in helping military families purchase their first home with the best possible loan terms.
- K9s for Warriors – Founded by Shari Duval, this non-profit organization provides service dogs to help veterans cope with PTSD.
- Televerde – Founded by David Thompson, this software company specializes in developing marketing automation tools and services for B2B and enterprise customers.
- Valor Service Dogs – Founded by retired Navy Seal Dale Beatty, this organization provides service dogs to assist veterans with physical disabilities and mental health issues.
- Bob Woodruff Foundation – Founded by journalist Bob Woodruff, this foundation helps connect veterans and their families with resources to succeed after returning from active duty.
- Patriot Group International – Founded by retired Army Colonel Dan Stannard, this security firm provides risk management and security solutions for governments, corporations, and non-profits around the world.
- Mission BBQ – Founded by former Marine Bill Kraus and former Navy SEAL Steve Newton, this fast casual restaurant chain serves barbecue favorites with a side of patriotism.
- Bunker Labs – Founded by Marine veterans Todd Connor and Clay Broadfoot, this organization helps other veterans start and scale their own businesses.
These are just a few of the many successful veteran-owned businesses that contribute to our economy and society as a whole.
From major corporations to small businesses, these organizations prove that veterans are more than capable of taking on the challenge of entrepreneurship and succeeding in it.
The 5 Best Cities for Veteran Entrepreneurs
In the past decade, a new wave of veteran-owned businesses has begun to emerge across the United States. Many veterans find that they have unique skills and abilities that can be applied to business ownership and entrepreneurship.
And with the growth of this sector comes a growing list of cities that are quickly becoming known for their strong support of veteran entrepreneurs.
In no particular order, here are the five best cities for veteran entrepreneurs:
- Austin, TX: Home to several entrepreneurial accelerators and resources for veterans, Austin is a great place to launch a veteran-owned business.
The city is well known for its vibrant culture and energy, making it an ideal environment for those who want to take a risk and start something new.
- Kansas City, MO: With the proliferation of veteran-owned businesses in this midwestern city, Kansas City is quickly becoming one of the top places to launch a new business venture.
With numerous small business grants and programs available to veterans, launching a business in this area can be easy and hassle-free.
- Denver, CO: Denver’s large veteran population, combined with its booming economy and supportive business community, make it one of the top cities for veteran entrepreneurs.
From veteran-focused networking groups to dozens of small business grant programs available to veterans, Denver is the perfect place to start a new business.
- Nashville, TN: Not only is Nashville home to a strong military presence, but it is also a great city for veterans who want to start their own businesses.
With its diverse economy, low cost of living and entrepreneurial atmosphere, Nashville offers an ideal environment for veteran entrepreneurs.
- Portland, OR: Known for its strong sense of community, Portland is an excellent place for veterans who want to start their own businesses.
Not only is there plenty of resources available to veterans, but the city also boasts numerous small business incubators and startup programs.
No matter where you choose to launch your veteran-owned business, make sure that you do your research and pick the right location.
Doing so will ensure that your business will have the best chance of success!
The 5 Worst Cities for Veteran Entrepreneurs
When it comes to starting a business, veterans face unique challenges. Often, the cost of living in certain cities can make the prospect of setting up shop daunting.
Many veterans find themselves wondering if they have what it takes to make it in a major city or if they should go for something a little more rural. Unfortunately, there are some cities that are not conducive to veteran entrepreneurship.
Here are the 5 Worst Cities for Veteran Entrepreneurs.
- Chicago, IL: With a high cost of living and one of the most competitive markets in the nation, Chicago is not an ideal place for veterans looking to get into business.
In addition to high real estate costs and expensive permits and fees, Chicago is also home to dozens of Fortune 500 companies which means competition is fierce.
- New York City, NY: Like Chicago, New York City has an incredibly competitive market and incredibly high real estate costs.
Furthermore, NYC’s red tape can be very difficult for veteran entrepreneurs to navigate. For veterans looking to launch a business in NYC, it’s important to budget extra money for legal fees as well as fees associated with obtaining permits.
- Los Angeles, CA: Despite its reputation as a business-friendly city, LA is a terrible place for veteran entrepreneurs. The entertainment industry has created a landscape where competition is fierce and most businesses have limited chances of success.
LA has some of the highest taxes and permit costs in the country, which makes it difficult to turn a profit.
- San Francisco, CA: Home to tech giants like Google and Apple, San Francisco is an intimidating place for veteran entrepreneurs. Not only does the city have high taxes and permit costs but it also requires expensive business licenses in order to operate legally.
The rent in San Francisco is so high that many veteran entrepreneurs struggle to afford office space.
- Miami, FL: Last but not least, Miami is one of the worst cities for veteran entrepreneurs due to its notoriously high cost of living. Real estate prices are sky-high and many veteran entrepreneurs find it difficult to obtain financing for their business due to Miami’s economy.
Also, many veterans find the extreme climate and cultural differences difficult to adjust to.
How to Get Started as a Veteran Entrepreneur
The entrepreneurial path is one that many veterans have chosen, and it can be a rewarding and successful venture. Starting a business as a veteran offers a unique set of advantages including access to funding, business networks, and special resources available to veterans.
To get started on the journey to becoming a veteran entrepreneur, the first step is to identify what type of business you want to start and how you’ll make money. After deciding on a business model, the next step is to secure funding.
There are numerous grants and loan programs available for veteran entrepreneurs, so do your research to determine which one fits your needs best.
Lastly, create a business plan, network with other veteran entrepreneurs, and stay informed about relevant industry trends. With the right strategies and hard work, starting a business as a veteran entrepreneur can lead to great success.
In conclusion, being a veteran entrepreneur provides a unique opportunity for veterans to leverage their skills and experience in order to pursue their entrepreneurial dreams.
With access to funding, resources, and special networks available to veterans, the possibilities are endless. Take the time to research and plan out your business and you will be well on your way to becoming a successful veteran entrepreneur.