Serving Their Country, Then Serving Their Customers

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Written by: Tom Mesenbourg, Deputy Director, US Census Bureau

In about two weeks, the nation will observe Memorial Day, in which we commemorate U.S. soldiers who perished while in military service. Today, we recognize our military veterans who, following their service to their country, transitioned into civilian lives of serving customers as business owners.

Their immense contributions to our U.S. economy can be seen in the data on veteran-owned businesses from the 2007 Survey of Business Owners (SBO). This survey provides the first-ever estimates of all veteran-owned firms in the United States.

In 2007, businesses in which veterans owned 51 percent or more of the equity, interest, or stock in the business numbered 2.4 million businesses and generated $1.2 trillion in receipts. These businesses employed 5.8 million people and their payrolls totaled $210.0 billion. Separate estimates are also available for businesses that are owned equally by veterans and nonveterans. When you add in businesses where veterans were half-owners, the respective totals are even more impressive: 3.7 million businesses and $1.6 trillion.

In 2007, nearly one-in-three veteran-owned businesses operated in the professional, scientific, and technical services and the construction sectors. The former category includes businesses as varied as offices of lawyers, accounting, tax preparation, bookkeeping and payroll services, veterinary services, portrait studios, and management consulting services.

The SBO also provides us with a detailed look at businesses by veteran ownership status for smaller geographic areas, including states, cities, counties, and metropolitan areas.

To learn more, visit the Census Bureau’s website.

Read the press release.

 

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2 Responses to Serving Their Country, Then Serving Their Customers

  1. Brian K. St.Ours says:

    Just got off the Veteran Owned Business U.S Census conference call. We work with around 7,000 active veteran owned and service disabled veteran owned businesses. I assure you the Census information you provided on veteran owned businesses will go a long way in helping fellow VOBs and SDVOSBs/DVBEs at the very minimum feel like progress is taking place! While I suspect the economy over the past few years has caused the number of businesses to decline, those of us who continue to push on have a renewed sense of pride seeing (and hearing about) said numbers. I’m sure all our members join me in saying “thank you” for this detailed information, and equally important, for continuing the support and momentum that seems to be growing by the day.
    Thank you!
    Brian K. St.Ours
    Founder
    VeteranOwnedBusiness.com
    (877) VOB-List

  2. Enid A. Pierce says:

    For all of those Veteran owned businesses, HURRAH! FOr all of those Veterans that are home today, Welcome home and may you live a happy and long live. You’ve given lots for us. For those veterans tha have kids in the front, America is behind you. Many years I wore the uniform too. Blessings, my friend, I and many others stand behind you and stand for those today in the front.
    Lord, Bless America and all their children!

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