Veteran business owners make up approximately 9% of all businesses in the U.S. Reliant Funding has been serving veteran small businesses since 2008 and are proud to release this infographic. The transcript can be found below and if you are looking for more resources for veteran business owners, download our full Veteran Business Owner guide today!
Most cited motivation to be a veteran entrepreneur: “The opportunity to forge my own path”
2.52 million businesses in the U.S. are majority-owned by veterans.
Over 25% of all veteran-owned firms fell into two industry groups:
- 16.6% fell into the Professional, Scientific and Technical Services industry
- 12.2% fell into the Construction Industry
Veterans are 45% more likely thank those with no active-duty experience to be self-employed.
99.9% of veteran-owned businesses are small businesses.
57% of veteran businesses are home-based.
15.5% of veteran franchises are in the accommodations and food service industries.
59.4% of veteran-owned firms started with personal or family savings.
491,000 veteran-owned firms have more than two employees.
78.1% of veteran-owned businesses with more than two employees reported sales of $100,000 or more.
38.2% report sales of $500,000 or more!
The top states for veteran-owned firms are:
- New York
The majority of veteran-women-owned firms with employees can be found within these 5 industries:
- Healthcare and Social Assistance
- Professional, Scientific and Technical Services
- Retail Trade
- Administrative and Support, Waste Management and Remediation Services
Minority-veteran-owned businesses grew by 50% and Hispanic-veteran-owned businesses grew by 56% from 2007 to 2016.
Veteran-women-owned firms have increased 294.7% from 2007 to 2012.