Support Our Veteran Entrepreneurs!
As an Air Force Veteran myself, I personally experienced the challenges of transitioning from military life to entrepreneurship, but it can be done.
BVDC thanks you for your service and now we want to serve you in your journey to entrepreneurship.
For the month of November, BVDC is offering a 30-minute free consultation and discounted business plans to Veterans. Let’s Talk!
Here are some key statistics on veteran-owned businesses in the United States:
There are approximately 2.5 million veteran-owned businesses in the US, accounting for about 9% of all US businesses. This represents around 5.8% of total US businesses with employees.
Veteran-owned businesses generate about $1 trillion in receipts annually.
The top industries for veteran-owned businesses are construction, retail trade, professional/scientific/technical services, and healthcare/social assistance.
About 1 in 10 veterans own a business, compared to around 1 in 13 non-veterans.
California, Texas, and Florida have the highest numbers of veteran-owned businesses, while Vermont, Wyoming, and Alaska have the lowest.
On average, veteran-owned businesses tend to have higher revenues than non-veteran-owned businesses. The average veteran-owned business generates about $162,000 in annual revenues, compared to $131,000 for non-veteran-owned firms.
Access to capital is one of the major challenges for veteran entrepreneurs, along with limited networks and connections. However, some programs exist to help provide training, mentoring, and funding access for veterans starting businesses.
The number of veteran-owned businesses has increased significantly (by over 40%) in the last 10 years, indicating growing entrepreneurship among veterans.
Here are some of the key programs and resources available to help veteran owned businesses:
The Small Business Administration (SBA) has a range of programs and services specifically for veteran-owned small businesses, including training, counseling, access to capital through SBA-guaranteed loans, and contracting opportunities. Key SBA programs include Veteran Small Business Certification (VetCert) program, the Veterans Business Outreach Program, Boots to Business, Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE), and more.
SBA's Office of Veterans Business Development (OVBD) offers entrepreneurship training, provides access to credit and capital, contracting opportunities, and small business assistance specifically for veterans, service-disabled veterans, and military spouses.
The Department of Veterans Affairs runs the Veteran Entrepreneur Portal which offers support through coaching, training, and a resource locator.
SCORE provides free business mentoring and low-cost workshops to veterans through partnerships with military bases and Veteran Business Outreach Centers.
Veteran and military business centers across the country, funded by SBA grants, provide local training and counseling for veterans.
Private organizations like Patriot Boot Camp, Bunker Labs, and Veteran Women's Enterprise Center offer mentoring, networking, and accelerators specifically for veteran and military spouse entrepreneurs.
Non-profits like NextOp and venture capital firms like Revolution's Rise of the Rest Veterans Program also assist veteran startups with funding and resources.
For the month of November, BVDC is offering a 30-minute free consultation and discounted business plans to Veterans.
Get Started Now