Military Veteran Entrepreneurs Mean Big Business for Colorado
In honor of those who have served our country, the Larimer SBDC has researched some powerful statistics about veterans who have come home to start businesses within our state and nationally.
- – 9.1% of all business owners in the United States are veterans as of 2012
- – 7.1% of these veterans are under the age of 35
- – 4.4% of veteran business owners are women
- – Veteran business owners are more likely to produce goods as opposed to services
- – 10.3% of veterans own more than one business, compared with only 7.4% of non-veterans
- – According to 2007 U.S. Census data, veteran owned businesses are responsible for contributing 1.2 trillion dollars to the United States economy
- – Colorado has 48,803 small businesses owned exclusively by veterans as of 2007 U.S. Census data
- — These business contribute an estimated $23 billion to the Colorado economy
- — They also employ 96,373 people, with an annual payroll of $3.6B
- — Approximately 38,000 Colorado veteran owned businesses are owned and operated as sole proprietors, and these businesses generate $2 billion dollars in sales annually
Lichtenstein, Jules. “Profile of Veteran Business Owners.” Issue Briefs 1 (2013).
United States Census Bureau. Survey of Business Owners – Veterans. Washinton DC: United States Census Bureau, 2007.