Transforming Duty into Opportunity: A Step-by-Step Guide for Veterans Entering the Business World

This resource guide explores the unique advantages veterans possess for entrepreneurship, focusing on businesses with potential market capitalization between $100,000 and $500,000. It highlights the skills veterans acquire during military service that translate well to business ownership, discusses the benefits of entrepreneurship for veterans, and outlines available programs and resources to support veteran entrepreneurs.

Why Veterans Make Excellent Entrepreneurs

Veterans are uniquely positioned to succeed as entrepreneurs due to their military training, leadership experience, and adaptability. According to the Bureau of Labor Statistics, veterans are 45% more likely to be self-employed than non-veterans. This guide aims to encourage veterans to consider entrepreneurship as a viable career path, particularly in the small to medium-sized business sector with market capitalization potential between $100,000 and $500,000.

Transferable Skills

Military service equips veterans with a range of skills highly valuable in the business world:

1. Leadership and Management: Veterans have extensive experience leading teams and managing complex operations, skills directly applicable to running a business.
2. Discipline and Work Ethic: The rigorous nature of military service instills a strong work ethic and self-discipline, crucial for navigating the challenges of entrepreneurship.
3. Adaptability and Problem-Solving: Military personnel are trained to adapt quickly to changing situations and solve problems under pressure, essential skills for business owners.
4. Attention to Detail: The military emphasizes precision and thoroughness, qualities that translate well to managing business operations.
5. Resilience: Veterans are accustomed to overcoming obstacles and persevering through difficult situations, a vital trait for entrepreneurs.

Unique Perspective

Veterans bring a distinct worldview and set of experiences to the business world:

• Global Awareness: Military service often involves international exposure, providing veterans with a global perspective valuable in today's interconnected business environment.
• Diverse Skill Set: Military training covers a wide range of disciplines, preparing veterans to handle various aspects of business operations.
• Mission-Oriented Mindset: Veterans are trained to focus on achieving objectives, a mindset that aligns well with goal-oriented business strategies.

Benefits of Entrepreneurship for Veterans

• Financial Independence: Starting a business offers the potential for financial growth and stability, particularly important for veterans transitioning to civilian life.
• Career Control: Entrepreneurship allows veterans to leverage their skills and interests in a self-directed career path.
• Continued Service: Many veteran entrepreneurs find fulfillment in creating jobs and contributing to their local economies.
• Work-Life Balance: Owning a business can provide flexibility in scheduling and work environment, which can be especially beneficial for veterans with service-related disabilities.
• Personal Growth: Entrepreneurship offers continuous learning opportunities and personal development.

Programs and Resources for Veteran Entrepreneurs

Training and Education

1. Boots to Business: A two-step entrepreneurship education and training program offered by the SBA within the Department of Defense's Transition Assistance Program (TAP).
2. Boots to Business Reboot: An extension of Boots to Business, offering entrepreneurship training to veterans who have already transitioned out of the military.
3. Entrepreneurship Bootcamp for Veterans with Disabilities (EBV): Provides training in entrepreneurship and small business management for post-9/11 veterans with service-connected disabilities

Funding Opportunities

1. Small Business Innovation Research (SBIR) Program: While not veteran-specific, this program offers funding opportunities for innovative businesses, with awards up to $150,000 in the first round and up to $1 million over two years in the second round.
2. Warrior Rising Small Business Grants: Offers grants and mentorship to veterans and their immediate family members, including a unique "Business Shower" event to support new veteran-owned businesses.
3. VetFran: Connects veterans with franchisors offering discounts and assistance to veterans looking to start a franchise business.

Mentorship and Support

• Veteran Business Outreach Centers (VBOCs): Provide entrepreneurial development services such as business training, counseling, and mentoring to veterans.
• Bunker Labs: Offers educational programming, mentors, and events through local chapters to help veterans start and grow businesses.
• Patriot Boot Camp: Equips service members, veterans, and spouses with entrepreneurial education, resources, mentorship, and community support

Certification and Contracting Opportunities

1. SBA Veteran Small Business Certification: Allows service-disabled veteran-owned small businesses (SDVOSBs) and veteran-owned small businesses (VOSBs) to compete for federal sole-source and set-aside contracts.
2. Service-Disabled Veteran-Owned Small Business (SDVOSB) Program: The federal government aims to award at least 5% of all federal contracting dollars to SDVOSBs each year.

Steps to Get Started

• Identify Your Business Idea: Leverage your military skills and experiences to identify a business opportunity that aligns with your strengths and interests.
• Conduct Market Research: Ensure there is a viable market for your product or service within the $100,000 to $500,000 market capitalization range.
• Develop a Business Plan: Outline your business strategy, financial projections, and operational details.
• Seek Training and Education: Enroll in programs like Boots to Business or utilize resources provided by VBOCs.
• Explore Funding Options: Investigate grants, loans, and investment opportunities specifically available to veteran entrepreneurs.
• Build Your Network: Connect with other veteran entrepreneurs and mentors through organizations like Bunker Labs and Patriot Boot Camp.
• Consider Certification: If applicable, pursue certification as a veteran-owned or service-disabled veteran-owned small business to access federal contracting opportunities.



Veterans possess a unique set of skills and experiences that make them well-suited for entrepreneurship. By leveraging their military training, leadership abilities, and adaptability, veterans can successfully transition into business ownership. With the support of various programs and resources specifically designed for veteran entrepreneurs, the path to starting and growing a business with a market capitalization between $100,000 and $500,000 is more accessible than ever. We encourage veterans to explore entrepreneurship as a rewarding career option that allows them to continue serving their communities while achieving personal and financial success.