U.S. veterans have made great strides in the field of entrepreneurship, demonstrating resilience and innovation as they transition from military service to civilian business ownership. From November 3 to 7, 2025, our nation will proudly celebrate the remarkable contributions of veteran business owners during the 12th annual National Veterans Small Business Week (NVSWB).
This article from Huddle Business Capital provides details about this week-long event and highlights some key achievements of veteran entrepreneurs.
A week-long celebration.
National Veterans Small Business Week is an annual event dedicated to honoring the entrepreneurial spirit of veterans. This week-long celebration highlights the contributions of veteran-owned businesses to the economy and encourages the community to support them.
Throughout the week, the Small Business Administration (SBA) and its resource partners organize various workshops and networking events, both in-person and virtual, across the country. These sessions cover a wide range of topics, including business certification, financing, government contracting, social media marketing, and much more. A daily updated list of workshops and events is available on the SBA website at sba.gov/nvsbw.
Veteran-owned businesses at a glance.
As of 2024, veterans owned over 1.6 million firms, employed nearly 3.3 million workers, and generated approximately $984 billion in sales.1 Among various industries, the highest percentage of veteran-owned businesses is found in the utilities sector (7.68%). This is followed by mining, oil, and gas (7.26%); finance and insurance (6.85%); entreprise management (6.63%); and agriculture, forestry, fishing, and hunting (6.56%).2
The percentage of veteran-owned businesses increases with the age of their owners. Only 2% of these firms have owners aged 25 to 34, while 75% have owners aged 55 or older.3 Veteran business owners identified their top three challenges as rising costs, increased operational expenses, and uneven cash flow.4
Types of financing used by veteran-owned firms.
Veterans have various financing options available at every stage of their business growth. These include Small Business Administration (SBA) loans, federal contracting programs, working capital loans, business lines of credit, equipment financing, and equipment leasing.
More than half of all veteran business owners, specifically 55%,5 seek financial support through business loans to fund their operations and growth. In addition, 36% opt for business lines of credit,6 which offer flexibility in managing their cash flow and covering unexpected expenses. Meanwhile, 13% of veteran business owners choose to lease equipment, machinery, technology, and other assets needed for their companies.7
How to support veteran-owned businesses.
Supporting veteran-owned businesses is a meaningful way for consumers, suppliers, equipment vendors, and other companies to honor those who have served in the military while also contributing to the economy. Here are some ways to support them:
Shop veteran-owned businesses
Whenever possible, choose to purchase products or services from veteran-owned businesses in your community. This not only boosts the local economy but also helps create a supportive environment for these entrepreneurs.
Create partnerships with veteran-owned companies
If you’re a business owner, consider collaborating with veteran-owned businesses for partnerships or projects. This can lead to mutually beneficial relationships and help veterans expand their reach.
Spread the word
Use social media and word-of-mouth to raise awareness about veteran-owned businesses. Share your experiences with their brands, promote their products and services, and encourage friends and family to support them.
Engage with veteran business organizations
Many organizations support veteran entrepreneurship, such as the U.S. Small Business Administration’s Office of Veterans Business Development. Connecting with these groups can provide resources, networking, and mentorship opportunities.
Source:
1, 2, 3, 4, 5, 6, 7 - https://advocacy.sba.gov/2024/11/12/facts-about-small-business-veteran-ownership-statistics-2024/
Disclaimer.
Huddle Business is not affiliated with nor endorses the U.S. Small Business Administration Office of Advocacy or the U.S. Small Business Administration’s Office of Veterans Business Development. This Huddle Business Capital blog article is purely educational and contains general information and opinions; it is not intended to provide advice or recommendations of any kind.
