Being a Veteran Business Owner in 2024 by Alec Poulin

After World War II, the percentage of veteran business owners or general managers was upwards of half. Flip a coin and at 49%, that was the likelihood of one of our nation’s greatest running and leading a small business, many of which are foundational in today’s economy. Fast forward a few generations and take a wild guess at what those numbers are now. If you guessed less than one-tenth, then you’d be correct. Only 4.5% of post-9/11 veterans own businesses. That, my friends, is abysmal. But why is this the case?

Veterans are some of the most well-disciplined, intelligent, hardworking, independent, and talented problem solvers in the nation. We overcome untold magnitudes of adversity, work as a team, solve complex problems, and do it under the most grueling conditions found in any profession on the planet. In short, we’re well-equipped, well-trained, and well-motivated. So why aren’t we starting more businesses, innovating, fending for ourselves, chasing our dreams, and pursuing greater opportunities? We came out with the ability to follow directions and show up at the right time, right place, with the right uniform and the right attitude, usually. Okay, sometimes. Alright occasionally with the right attitude, but nonetheless, we could accomplish the mission. So can we narrow down the reason behind the lack of “vetrepreneurs”?

From my experience, my best guess is two main factors: the inherent institutionalization of the military and, yes it’s trivial but true, fear.

Institutionalization in the military provides structure, support, and clear direction. It’s a rigid framework within which we operate, making decisions based on set parameters and following orders. This environment can sometimes stifle the entrepreneurial spirit that requires flexibility, innovation, and a high tolerance for ambiguity. When veterans transition to civilian life, they often find the lack of a structured environment daunting. The absence of clear directives can lead to uncertainty and hesitation in making bold business decisions.

The fear factor is deeply rooted in the unfamiliarity and perceived risks associated with starting a business. Military service instills confidence and the ability to tackle known challenges head-on, but entrepreneurship often involves venturing into uncharted territory. The fear of failure, financial instability, and the unknown can be paralyzing. Many veterans, despite their exceptional skill sets, might find the prospect of starting a business intimidating without the safety net that the military environment provided.

To combat these challenges, targeted support and resources for veteran entrepreneurs are crucial. To rattle some off quickly here are a few, but the vast majority of what I’ve learned comes form the school of hard knocks. So here they are briefly and I’ll get back to the regularly scheduled program.

1.      Small Business Administration (SBA) offer programs specifically designed to help veterans transition into business ownership.

2.      The SBA’s Veteran-Owned Small Business (VOSB) certification and Service-Disabled Veteran-Owned Small Business (SDVOSB) program provide access to government contracts and resources that can give veteran entrepreneurs a significant advantage.

3.      Mentorship programs like the Veteran Entrepreneur Portal (VEP) and initiatives from organizations like Bunker Labs offer veterans the opportunity to learn from those who have faced and overcome similar challenges.

4.      (Literally just Google "VA Veteran Business Help" and you’ll get a zillion hits)

Getting back to it.

They say the best thing about being in business is simply being in business. Most of us were taught that no plan survives first contact anyways since Murphy always shows up (If you served you should get that reference). Having said, if you’ve had an idea for a business plan, some special talent or service weighing on your heart, or a clever side hustle to start helping with the bills, then my advice is to SEND IT. Stop conceptualizing and daydreaming and just get something out there no matter how simple it is. As you get things on paper, file for that LLC, invest in equipment, leverage your local network, or tell others, the plan will form itself. As you invest your time, it will take on a life of its own and opportunities will begin to stack up.

Battling fear and your old instincts will be the most challenging thing you face. That guy or gal in the mirror is your biggest obstacle for getting started and ultimately achieving your goals. It’s no different on the outside, just don’t give up. For me, a friend always helps. Mentorship plays a pivotal role in bridging the gap between military and civilian life. Connecting with successful veteran business owners who have navigated this path can provide invaluable insights, encouragement, and practical advice. Veterans need a network of peers who understand their unique experiences and challenges. Camaraderie can be found through local veteran business organizations, online forums, and social media groups dedicated to veteran entrepreneurs. Building and maintaining these connections can provide emotional support, motivation, and a sense of belonging.

Lastly, if it was easy, everyone would do it. Cliché? Yes. True? Absolutely. I can assure you I am far from the smartest, toughest, or talented people to has serve or start their own business. So when I say if I can do it, anyone can do it, I mean it. 4.5% is far too low when considering how much we're depriving our nation of talent. I’m proud to be a part of such a small percentage but honestly, I wish there was nothing miraculous about it. It's time for us to change that narrative. We need to support each other, believe in ourselves, and leverage the skills we've gained through our service. The discipline, resilience, and leadership we developed in the military are powerful tools that can drive our success. It's about taking that first step, embracing the challenge, and knowing that failure is just another part of the journey.

Next time I’ll be chiming in on what it’s like to leave the military with a skillset ill-suited for civilian life. Me personally, as an infantryman, it was difficult (still can be), but there are some perks to it. Tune in next time.

Thank you for joining me on my journey as an entrepreneur, a veteran, and a Christian. Please like, comment, and share if you gained anything from this blog. I look forward to chatting again soon!