NEWSRELEASE
For Release: November 9, 2004
Contact: John McDowell, (202) 205-6941
john.mcdowell@sba.gov
SBA Number: 04-35 ADVO
Press Kit
Veterans Have Entrepreneurial Spirit, Study Shows
New Study Provides Wealth Of Data On Veterans’ Business Ownership
WASHINGTON, D.C. - American veterans have a strong entrepreneurial sprit, according to a study released today by the Office of Advocacy. The study, Entrepreneurship and Business Ownership In the Veteran Population, shows that 22 percent of veterans are either purchasing or starting a new business, or considering purchasing or starting one.
“Veterans are playing a significant role in our economy,” said Thomas M. Sullivan, Chief Counsel for Advocacy. “This study presents a wealth of new data that will help policy makers to understand that role and develop polices that continue to encourage veterans’ entrepreneurship.”
The Veterans Entrepreneurship and Small Business Development Act of 1999 called for this study. It required the SBA’s Office of Advocacy to develop
information on programs designed to assist small businesses owned and controlled by veterans and service-disabled veterans.The study’s findings include:
·
More than one-third of both “new veteran-entrepreneurs” and current veteran business-owners had gained skills from their active duty service that were directly relevant to business ownership.·
Prior business ownership and employment experience had a positive impact on an even higher percentage of both “new veteran-entrepreneurs” and current veteran business-owners than did military experience.·
A focus on addressing the challenges of home-based business ownership and Internet use in veteran-owned businesses would be useful.The Office of Advocacy, the “small business watchdog” of the government, examines the role and status of small business in the economy and independently represents the views of small business to federal agencies, Congress, and the President. It is the source for small business statistics presented in user-friendly formats and it funds research into small business issues.
For the complete report and data tables, visit
www.sba.gov/advo.###
Created by Congress in 1976, the Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. Appointed by the President and confirmed by the U.S. Senate, the Chief Counsel for Advocacy directs the office. The Chief Counsel advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policy makers. Economic research, policy analyses, and small business outreach help identify issues of concern. Regional Advocates and an office in Washington, DC, support the Chief Counsel’s efforts. For more information on the Office of Advocacy, visit
www.sba.gov/advo or call (202) 205-6533.