The U.S. Small Business Administration (SBA) recognizes the impact that veterans have on the American economy. According to the most recent data, there is about one veteran-owned firm for every ten veterans, and veteran-owned firms employ 5.8 million individuals. A recent SBA study also found that military service exhibits one of the largest marginal effects on self-employment, and veterans are 45% more likely to be self-employed than non-veterans.
Table 1. Veteran Population Statistics
|
Veterans |
Male Veterans |
Female Veterans |
Veteran-owned firms |
Employees of Veteran-owned firms |
|
21.2 million |
19.4 million |
1.8 million |
2.4 million |
5.8 million |
Sources: Bureau of Labor Statistics, Employment status of the civilian population 18 years and over by veteran status, period of service, and sex, not seasonally adjusted, May 2012; U.S. Census Bureau’s Survey of Business Owners (SBO), 2007.
Figure 1. Percentage of firms owned by veterans: Top 10 Industries
Source: U.S. Census Bureau’s Survey of Business Owners (SBO), 2007.
Figure 2. Distribution of Veteran-owned firms by industry
Sources: U.S. Census Bureau’s Survey of Business Owners (SBO), 2007.