Military veteran economic impact
What role do military veteran entrepreneurs play in the U.S. economy?
More and more members of the armed forces are starting small businesses when they hang up their uniforms. According to the U.S. Small Business Administration:
- Male veterans' self-employment rates were higher than those of non-veterans from 1979 to 2004. The rate was 13.7 percent in 2003, compared to 12.2 percent for non-veterans.
- About 22 percent of veterans in the U.S. were either purchasing, starting, or considering purchasing or starting a business in 2004, according to a study of veteran business ownership. This compares to 12 percent of the general population making plans to start a business, according to the Global Entrepreneurship Monitor.
- Almost 72 percent of these new veteran entrepreneurs planned to employ at least one person at the outset of their new venture.
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