Currently our veterans represent almost 8% of the entire US population. But, they also represent over 9% of business owners, minimally contributing $1 trillion to the economy each year and employing over five million people. This is truly incredible!
This is not by chance. There are very specific reasons our service friends form such great entrepreneurs and why their military training and service have such an impact on economic contributions.
“It comes down to working hard, being consistent, and letting your community guide you where you go.” -Samantha Snabes, Major MS Air National Guard and cofounder of re:3D
Our service members are used to HARD WORK, long hours, and continuous commitment. There’s no giving up in the military, and thus, veteran business owners know there’s no surrendering amid struggles in the life of an entrepreneur.
A career in the U.S. Armed Forces provides countless opportunities to learn new skills, solve complex problems and become better leaders. These experiences help make veterans driven entrepreneurs.
Those who have served our country possess an ingrained work-ethic and a military mindset. These people are categorized as calm under pressure, innovative, highly committed, excellent time managers, and service oriented. Accustomed to logistics and details, veteran-owned business owners are streamlined in operation and highly successful.
"I attribute our success to the people who put in a lot of sweat equity and continue to do so and to our customers who have been quick to give us guidance and feedback. It's inspiring to hear their vision for the future. My military experience helps me prioritize based on our customers' needs." - Samantha Snabes
Veterans also report that the fact that they’ve learned humility throughout the years, and no fear of asking questions or for help always leads to continuous improvement and a problem-solving initiative in the business world. They are ready and waiting to take on big challenges and often see starting a business as the best way to give back and strengthen their communities and the country they served.
Some of the most well-known and successful veteran-owned businesses include:
USAA: In 1922, US Army officers gathered to insure each other’s automobiles. Eventually, the group began expanding membership to other branches and started evolving into the USAA that we know today.
Go Daddy: Marine Corps Veteran Bob Parsons started Go Daddy in 1997. Go Daddy is the world’s largest registrar for internet domain names. Parsons attributes his success to his time in the military.
Wal-Mart: Sam Walton is a former Army Intelligence Officer and started the first Wal-Mart with the $5,000 he saved from his time in the Army in 1962.
Enterprise Rent-A-Car: Jack Taylor served in World War II as a Navy Pilot. After managing a car dealership, he started a car leasing business in 1957. This started as a 7-car fleet and this business rents over 700,000 vehicles.
The hard work of our troops pays off. We honor our veterans, their service, and their business ventures!
Join us at Veterans Victory Small Business Center by supporting and patronizing local veteran-owned businesses.
If you are interested in being a part of the VVSBC community plan, contact Kim.Kuhle@vvsbc.com or 402-728-8722 today!