There are over 30 million small businesses throughout this great nation. As of last year, just over 2.5 million of these small businesses were majority-owned by military veterans. Here’s a quick look at why it’s so vital that military-owned businesses thrive in our nation.
To Support Even More Businesses
Many military-owned businesses have split ownership between a service veteran and the government. The service veteran is capable of running the business and has slightly more control. When these types of businesses thrive, they bring in funds to the government. The government will reinvest these funds in supporting other military-owned businesses. It’s an ongoing cycle that provides the necessary financial support for ex-service members looking to readapt to society.
To Give an Outlet for Reacquainting to Civilian Life
When many soldiers come home, they find it difficult to reacquaint themselves with civilian life. Moving from a strict military schedule to starting over can be a big challenge for anyone. With SDVOSB programs, these military veterans are able to find a purpose. They have something to work towards as they readapt to civilian life. By supporting these businesses, these individuals can continue to succeed in the business world and successfully readapt to society.
To Show Support for Service
When military-owned businesses are thriving throughout communities, it shows that citizens are supporting their local veterans. Many people are more likely to purchase items and services from businesses that have a clear link to the military than ones that don’t. It’s a way for everyone to give back and thank veterans for their service to our country.
To Inspire Other Veterans
It’s been estimated that about 45 percent of all military veterans become self-employed after their service. This is thought to be attributed to the fact that these veterans have a unique skill set that allows them to bring products and services to the market that others can’t. With this many veterans seeking out the entrepreneurial route, it’s important that these businesses succeed. They provide the necessary inspiration for retiring veterans to start anew.
Supporting military-owned businesses is a simple way to show your respect for their service to our great nation and to provide financial support to pave the way for more veterans to start their entrepreneurial journey. With over 2.5 million military-owned small businesses, there is likely one in your local area. It’s time to pledge your support to their business and ensure that our military veterans have a continued future in the business world.