Supporting Veteran Owned Small Businesses

This week we’re celebrating National Veterans Small Business Week.

Hosted by the Small Business Administration, this week involves over 100 events around the country applauding the success of veteran entrepreneurs and demonstrating the existing support military veterans can receive from the SBA. Among the many events SBA offices and partners around the country will host, many will focus on entrepreneurship training, access to capital, discussions on franchising opportunities for veteran-owned companies, and small business development for women veterans.

Veterans are 45% more likely than civilians to be self-employed, which many attribute to the leadership, perseverance and decision-making abilities these individuals gain while in the military. Veteran-owned businesses have achieved significant success in America, reaching 2.4 million small businesses, generating over $1 trillion in sales annually and employing nearly 5.8 million people. This success speaks to the support veteran entrepreneurs have received already, and the need for continued support as new business launch every day.

The U.S. Senate just passed legislation to officially recognize the first week of November as National Veterans Small Business Week, solidifying this celebration and cause for future entrepreneurs to come.

“America’s service members are leaders on the frontlines of battle and in their communities back home. The skills, motivation and training these men and women develop through their military service make them some of the most successful entrepreneurs in our country. Starting and growing a business requires dedication, focus, and follow through,” said Senator Gary Peters from Michigan.

SnapCap is committed to be an affordable source of capital for successful veteran owned businesses.

Follow more of the conversation at #MyVetBiz.

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