Veterans Are 45% More Likely to Start a Business

When I got out of the Army in 2006, there weren’t nearly as many resources available to us as we transitioned back to civilian life.

We didn’t think much of it back then because we had nothing to compare it to. All we knew was that we were getting out and everything was about to change, so we did just as we had done during our time in service. We dove head first into the unknown and followed the mantra we heard almost every day while in uniform…

“Adapt, improvise, and overcome.”

Some of the guys I served with played it safe in familiar territory by getting jobs in law enforcement or as PMCs (Private Military Contractors). Many went into fields based on their MOS, like construction, information technology, or accounting, and a few took a completely new path unrelated to their previous roles.

But it wasn’t until I started networking with veterans after I got out that I started to notice there seemed to be a similarity among us, and that similarity is entrepreneurship. Then I did some digging to see if my hunch was correct, and learned that according to data from the BLS, veterans are 45% more likely to start a business than our civilian counterparts.

In hindsight, it all makes perfect sense.

The type of people who are drawn to military service thrive in the fast-paced, chaotic, and challenging entrepreneurial world. And during their time in service, most will endure unimaginable challenges, which develop the resilience to thrive in this relentlessly brutal environment. That's because almost from day one, we were expected to be capable of operating independently without the support or guidance of senior leadership, as that’s a common occurrence in combat.

In other words, we feel right at home in an environment where we’re forced to constantly adapt, improvise, and overcome.

Service members are also often placed into leadership positions far earlier than our civilian counterparts, and those positions typically require being responsible for millions of dollars worth of equipment and making life or death decisions

I never gave much thought when I first started my business, a podcast network focused on the veteran community, to the fact that I had no idea what I was doing. I had never run a business before, and hadn’t even gone to school for it, nor had I gone to school for podcast production. I was winging everything on the fly.

All I had was a dream and unstoppable drive, but I decided to jump in and figure it out myself along the way. It went pretty well, but I definitely took some bumps and bruises along the way that probably could have been avoided had someone warned me ahead of time.

I also find that this can be the catalyst for the next generation of entrepreneurs from military families. I recently heard the story of a young entrepreneur from a military family who was inspired to launch his own company, in part, because of the example his father and grandfather set for him.

Dom Pecora, Founder of Dom Fixes Bikes, shared his experience, saying, “Growing up with my dad and grandpa being in the military, it really pushed me to start my bike business. It is a different type of upbringing—they taught me the value of hard work and sticking with things, which helped me stay focused when things got tough.

Their leadership skills showed me how to bring people together, and that’s been super important in building a brand that connects with other bike lovers. I have been blessed with a community who assisted me with my dreams when I began at the age of 10 and asked my mother for that $3,000 YT Jeffsy, where she nicely however sternly suggested ‘"f you want the bike, then you will need to work for it."

That I did and Dom Fixes Bikeswas born. Has it been easy? No, it hasn't, however it has taught me so much more than I ever imagined. Now, at the age of 15, I have both a bike shop and a nonprofit with community support as we grow and expand into different counties furthering my mission.”

I think we need a lot more of that if we want to build a stronger economy for everyone.

Things have changed a lot since I first started my business. For starters, the veteran community today is stronger and better connected than ever. Technology plays a role in that, but honestly, the biggest factor is that we realized that the government wasn’t going to take care of us like they promised, so we had to do it ourselves. Today, we have veteran-focused media outlets, social networks, and events that are on par with organizations serving any other demographic.

There’s one problem though—despite the wealth of resources and connections we have at our fingertips today, most veterans still don’t know what’s available to them. So I wanted to create this article as a master resource list for veterans who are, or want to become entrepreneurs.

My goal here is to share some of the resources I’ve found along the way in my own entrepreneurial journey, to help you avoid some of the pitfalls you’ll face, build a more successful business, and create a greater impact in the world.