On this day, it is common to see American flags waving proudly in the air while we give thanks and salute to all of the men and women who have and are serving our great country. Veterans Day became a U.S. legal holiday on November 11, 1918 to honor Armistice Day (the end of WWI) and to honor those who have given their service. Half a Bubble Out would like to take a moment and recognize how crucial veterans are, not only for our freedom and safety, but also in support of our economy. As the years pass on, the number of veterans who own successful small businesses are growing. Veterans are twice as likely to own a small business than the general population, which sheds light on the skills that entrepreneurs must have to thrive in this economy.
Forbes also recognizes the impact veterans are having on the American economy in the excerpt below. Learn more about veteran-owned businesses in the United States:
Startup Success: Veteran-Owned Businesses Are Gaining Traction With Investors
Written by Marianne Hudson
We all proudly read the news about the work veterans do protecting our country. However, what often doesn’t make the news is the impact these heroes have on the business world. Check out these statistics which belie their contributions to the startup ecosystem as the nation celebrates National Veterans Small Business Week and Veteran’s Day:
3 million: The number of businesses veterans run in the United States
5.7 million: The number of people employed by veterans, which equates to $210 billion in annual payroll and $1.2 trillion in sales
30%: The portion of all American businesses owned by veterans; interestingly, while veterans make up only 8% of the U.S. population, they are twice as likely to own a business as the general population
7%: The number of businesses owned by veterans still open after 10 years; according to the Small Business Administration, compared to one-third of all businesses that survive 10 years or more.
The success of veteran entrepreneurs has not gone unnoticed by angel investors, although more attention is needed.
[Read Forbes’ Original Article: Startup Success: Veteran-Owned Businesses Are Gaining Traction With Investors]
To our veterans, thank you for your service. To our veterans who are running small businesses across the country, thank you for your continued service to our communities. You are providing jobs and opportunities to so many.
We understand the joys and struggles of owning a successful small business and we understand the business strategies that work. If you too are a business owner and are interested in small business consulting, then Half a Bubble Out would like to help you! Contact Us for marketing, advertising and business consulting to help you build a company that is full of passion and provision.