Maybe you’ve been thinking about going out on your own and starting a business. It’s a pretty daunting thought, yet people with military experience tend to make excellent entrepreneurs.
In fact, a 2011 study from the Small Business Administration (SBA) Office of Advocacy reported that veterans are about 45 percent more likely to become entrepreneurs than people with no active-duty military experience. The most recent U.S. Census data from 2007 showed veterans owned about 2.4 million businesses that generated $1.2 trillion in receipts and employed 5.8 million people, proving that veterans make their mark on America long after their military service has ended.
Military veterans are organized, goal oriented, skilled and ready to take smart risks at the right times. Veterans not only have superior training, we have the confidence to generate fresh ideas and make connections to build valuable networks. More importantly, veterans have the resourcefulness to make do with minimal assets and the persistence to stick with it until we succeed. If you’re a veteran thinking about taking the plunge into small business ownership, there are plenty of advantages available to you. Here are some tips to get you started.