Committee Highlights Entrepreneurial Opportunities for Veterans

Press Release

The House Small Business Committee, under the chairmanship of Rep. Sam Graves (R-MO), today highlighted initiatives that are helping veterans apply their skills to become entrepreneurs.

The hearing focused on veteran-owned small businesses, and private sector efforts that are helping veterans succeed. Veterans that have served since 2001 face higher unemployment rates than the rest of the population, and by 2040, they will make up more than 50 percent of the total veteran population. While facing challenges in transitioning to new civilian jobs after time in the military, returning service members possess leadership skills that naturally translate to entrepreneurship. In response, several private sector initiatives have been launched to assist our nation's heroes to transfer unique skills gained during military service to the world of business.

"Veterans are more likely to become entrepreneurs than the rest of the population, and it makes sense. They acquire leadership, communications, and other applicable skills in the military, and small business ownership is a great avenue to use those abilities," said Chairman Graves. "Even with these skills, the unemployment rate for veterans remains a problem. Many returning veterans find the transition out of the military challenging. I greatly appreciated the insight today on private sector initiatives that are helping veterans pursue new career paths and become business owners. A strong support system can help veterans not only get started, but achieve lasting success in the business world."

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