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There is a strong correlation between military service and starting a business, according to research from the Small Business Administration (SBA) Office of Advocacy. A recent study (2011) examined the level of entrepreneurship among military veterans and found that in the private sector workforce, veterans are at least 45% more likely than those with no active-duty military experience to be self-employed.
This isn't to say that self-employment and entrepreneurship is for everyone and it is certainly not an "easy" answer to career development. But, if you think you have what it takes to start your own business, it is certainly worth researching. A good place to start would be the SBA's Office of Veterans Business Development.
- The Entrepreneurship Boot Camp for Veterans with Disabilities (EBV) offers cutting edge, experiential training in entrepreneurship and small business management to post-9/11 veterans with disabilities resulting from their service to our country. The EBV program is offered at eight universities and there are courses designed for military families as well as female veterans.
Franchise ownership is another option for veterans considering self-employment. According to the International Franchise Association (IFA), one out of every seven franchise businesses are owned and operated by veterans. IFA's VetFran program helps returning servicemembers and disabled veterans access franchise opportunities through training, financial assistance, and industry support.
- Additional information about self-employment and contracting requirements can be found on the SBA website.