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Why veterans start small businesses

On Behalf of | Jun 10, 2022 | Intellectual Property |

Many small businesses in the United States are owned by former military veterans. In fact, some estimates put this at more than two and a half million businesses that are veteran-owned in the United States. This is quite a substantial share of the market and represents millions of dollars in revenue every year.

If you are a veteran and you’re considering starting your own business, you may wonder why others choose to do so. Here are a few potential reasons, which may impact your own business idea.

They have unique skills

A lot of veterans return from their service with very unique skills and things they’ve become incredibly proficient at. These may not perfectly translate into another job in the civilian world, but veterans understand the ins and outs of their skills in a way that no one else can, and so they often start small businesses that capitalize on those skills.

There is financial assistance

Veterans can often get financial assistance from the government for various things, such as financing to start businesses. This just makes it a viable option for many veterans who may have not been able to take this path if they had not served.

The military isn’t their only career

While there are certainly many people who enter the military with the idea of doing it as a full career, there are a lot of veterans who just signed up for one set period of time. For instance, someone may have only enlisted to serve for four years, and so they’ve always planned on having a different career. The small business is their way of creating that.

No matter why you’re deciding to start a small business, make sure you understand all of the steps you need to take.