What is a Veteran owned company?

Veterans have dedicated their lives to serving and protecting our country, so it's only fitting that they should get some extra recognition in the business world. But what exactly is a veteran-owned company? And why should veterans consider starting their own businesses? Let's examine what makes a veteran-owned company special and how entrepreneurs can benefit from this designation.

A veteran-owned business is a business that is at least 51% owned, operated, and controlled by one or more veterans. In the United States, programs are in place to help veterans start and grow their own businesses, including access to capital, training and mentorship, and government contracting opportunities. If you are a veteran interested in starting a business, you may want to consider reaching out to organizations like the Small Business Administration (SBA) or the National Veteran-Owned Business Association (NaVOBA) for more information and resources.

It is difficult to determine the exact number of veteran-owned businesses in the United States as no central database or registry tracks this information. However, according to data from the U.S. Census Bureau's Survey of Business Owners, there were approximately 2.5 million veteran-owned businesses in the United States in 2018. These businesses employed approximately 5.3 million people and generated nearly $1.5 trillion in annual revenue.

Here are a few examples of veteran-owned businesses in the United States:

1. Vets First Choice: This company is a leading provider of online veterinary care and was founded by a veterinarian who served in the U.S. Army.

2. Ironclad Performance Wear: This company is a leading manufacturer of high-performance gloves and was founded by a veteran who served in the U.S. Marine Corps.

3. TriWest Healthcare Alliance: This company provides healthcare services to military families and was founded by a veteran who served in the U.S. Army.

4. US Federal Contractor Registration: This company helps businesses navigate the federal procurement process and was founded by a veteran who served in the U.S. Air Force.

5. Patriot PAWS: This organization trains service dogs for disabled veterans and was founded by a veteran who served in the U.S. Navy.

These are just a few examples of the many veteran-owned businesses in the United States. Many other successful veteran-owned businesses exist in various industries, including construction, consulting, and retail.

Owning your own business can be incredibly rewarding, but for veterans, there are added benefits of owning a veteran-owned business. Having the "veteran-owned" designation on your business can help you stand out from the competition. Many people are passionate about supporting veteran-owned businesses, so having this distinction can give you an edge in marketing and sales.

Another advantage of owning a veteran-owned business is access to resources specifically geared toward veterans. Numerous programs are available to veterans who want to start their own businesses. These include grants, loans, tax credits, and mentorship opportunities. By taking advantage of these resources, veterans can gain an even stronger foothold in the world of entrepreneurship.

Many organizations, such as ExactFreedom, also focus on helping veterans succeed in entrepreneurship and other areas of business ownership. These organizations provide support and guidance to help veterans launch successful businesses and resources for ongoing operations, such as marketing and finance advice. By tapping into these resources, veterans can gain access to valuable information that will help them grow their businesses over time.

Veteran-owned businesses, (such as luxurious hard-use clothing company Terra Arma), have many advantages over other small businesses—from gaining recognition for their service to accessing specialized resources for entrepreneurs. Starting a veteran-owned business is an excellent way for veterans to honor their service while pursuing financial success through entrepreneurship. With the right resources and support, any veteran who wants to become an entrepreneur has the potential to create a successful venture that will last far beyond their military service. So don't wait—start researching today!

Veteran-owned businesses are an incredible economic asset, offering unique skills and expertise that can only be gained through military experience. With veteran-owned businesses making up a significant portion of the American business landscape, it is important to understand the benefits of investing in such companies when formulating their strategies.

The Value of Veteran-Owned Companies

Veterans bring a number of unique skills to their businesses that cannot be found elsewhere. Their training and experience make them well-equipped to handle difficult situations and take advantage of opportunities as they arise. Additionally, veterans are known for their leadership qualities, which are invaluable in any organization. Furthermore, veteran-owned businesses tend to have a higher success rate than non-veteran-owned companies due to their resilience and determination. Another benefit of working with veteran-owned businesses is that they often come with an extensive network of contacts in the military community. These individuals can provide valuable insights into the industry and offer advice on approaching certain challenges. These contacts may even help introduce you to potential customers or partners looking for services related to your business.