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The Spending Power of Veterans

Veterans are a vital asset to our country. Not only have they risked their lives, fighting for our freedom and for the nation, but the role they play in economic growth is astounding.

As of 2020, statistics show there are over 40 million citizens who are part of the military community: this includes active-duty military, those in the reserves, veterans, spouses, and their dependents—representing 12% of the total US population. This translates to $1.2 trillion of buying power, and of that, 20 million veterans wield $198.7 billion in annual spending power.

That number accounts for a great deal of economic health.

Our veterans are most often educated, motivated, and funded.

Our veterans also stick together.

With a shared sense of values, a common mindset, a similar history of service and commitment, our veterans form a tight-knit community and support each other.

From social organizations, travel clubs, service groups, social memberships, and even retirement communities, those who have served together, or in-kind, show great support for each other in all ways, including economically.

Veterans patronize and support veteran owned businesses. Essentially, our heroes share the mentality of loyalty and support: alongside and beside.

Veterans create a powerful community and that power is backed by a great deal of money.

Because of the diversity of our veteran population, they yield an incredibly diverse reach.

  • Diverse demographics

  • Diverse backgrounds

  • Diverse income opportunities (and military rankings)

  • Diverse interests

Thus, the support that veterans bring to a community setting reaches much further than any other bonded sect.

And, Veterans Victory Small Business Center brings all of this together, uniting Veterans and families, as well as their businesses, in one central location.

“Our mission is to help improve the lives of Veterans through a mixed-use, place-based initiative, designed to provide offices, technical assistance, and programs for veterans to create jobs, assist with self-sufficiency and housing to help improve quality of life… a supportive community atmosphere.”

  • Community

  • Support

  • Diversity

  • Convenience

  • Self-sufficiency

Roughly 17% of adults living in Colorado Springs are veterans and a great deal of those veterans are also entrepreneurs. With a projected growth rate of over 32% in the next 20 years, the number of veteran-owned businesses will continue to rise. This means veteran spending and support will increase just as dramatically.

Colorado Springs is one of the fastest growing regions in the country.

To be a part of this business boom, and to learn more about the current and anticipated small businesses in this unique community (including Victory Service Dogs, a wellness center, medical offices, and more), contact Veterans Victory Small Business Center.

Be a part of all the greatness and power that is to come!

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