American veterans have a strong entrepreneurial spirit, according to a study released today by the Office of Advocacy. The study, Entrepreneurship and Business Ownership in the Veteran Population, shows that 22 percent of veterans are either purchasing or starting a new business, or considering purchasing or starting one.
Some of the findings of the study are:
- More than one-third of both "new veteran-entrepreneurs" and current veteran business owners had gained skills from their active duty service that were directly relevant to business ownership.
- Prior business ownership and employment experience had a positive impact on an even higher percentage of both new veteran-entrepreneurs and current veteran business owners than did military experience.
- A focus on addressing the challenges of home-based business ownership and Internet use in veteran-owned businesses would be useful.
This study was written by Waldman Associates with funding from the SBA’s Office of Advocacy. The full report is available at
http://www.sba.gov/advo/research/rs242tot.pdf and the research summary can be found at http://www.sba.gov/advo/research/rs242.pdf
