Veterans continue to do more than their fair share after leaving the military: At least one-in-four veterans in the workforce are running their own business, a rate that is 7.7 percentage points greater than the national average, according to the Census Bureau.
“Time and again, servicemen and women across the country have shared with us a main reason why they became entrepreneurs: Their experience in the military carried over into a career in which they control their own destiny, sometimes by equipping them with the technical skills needed in their second career, but always by ensuring that they had the ‘soft skills’ so critical to running a small business,” said Thumbtack Economist Lucas Puente, PhD.
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“At Thumbtack, we celebrate the 2.5 million veterans who run their own small businesses in the U.S.,” continued Puente, “and encourage local governmental leadership to ensure veterans pursuing this path have the resources they need to succeed.”
As part of Thumbtack’s 2017 Small Business Friendliness Survey, 1,371 veteran-small-business-owners on Thumbtack were asked to evaluate their local governments’ support for businesses like theirs to determine the best communities for veterans to start, manage and grow a small business. Leadership by local governmental and political officials in the top cities are tasked with ensuring veteran entrepreneurs have the resources they need to succeed and don’t get stymied by the local regulatory or tax infrastructure.
The cities that made the top 5 list were—
- Austin, Texas
- Houston, Texas
- Charlotte, North Carolina
- Fort Worth, Texas
- Los Angeles, California
The veterans interviewed for this study noted a military background alone isn’t sufficient to develop a thriving business; another factor they pointed to is a supportive community. While every business’ needs are different, the study indicates operating in a place where veteran-owned businesses are valued by clients, bankers, suppliers, and others can provide a leg up in the harrowing process of starting and growing a small business. These locations proved they do value their local veteran-owned businesses.
“Austin is a phenomenal place for a veteran to start a business,” said Thumbtack Pro Teri Young, owner of Teri Young Photography. “The community is rich with active and retired military personnel, as well as an abundance of supportive, patriotic civilians. With local programs like ‘Boots to Business’ and SCORE, the idea of becoming my own boss was a much clearer reality.”