BETTER VETREPRENEURSHIP: IMPROVING ENTREPRENEURIAL OUTCOMES FOR U.S. MILITARY VETERANS

Abstract

Military veteran entrepreneurs, also known as vetrepreneurs, form a unique entrepreneurial community based in part on their military-related skills and life experiences, the financial endowments derived from their service, and external influences like professional mentors and government-provided training programs. However, a research gap exists in the examination of the degree to which these factors meaningfully influence successful outcomes for military veterans who become small business entrepreneurs. Therefore, the research question for this project was: what experiences, endowments, and external influences impact successful entrepreneurial outcomes for small business vetrepreneurs? This exploratory research consisted of a mixed-methods approach involving a quantitative pilot study that included a survey of 70 veteran small business entrepreneurs (Study 1), and a qualitative case method study that included detailed interviews with 6 additional veteran entrepreneurs (Study 2). Among the findings in Study 1 were that military service is an advantage to vetrepreneurs, but traits such as education, military rank, job held in the military, and financial endowments were not. As discovered in Study 2, however, things like networking, passion for one’s business, and understanding administrative aspects of business are important contributors to successful outcomes. The implications for this research include potential updates to military pre-separation training programs, as well as providing useful data for both researchers and current or future vetrepreneurs. Keywords: Veteran Entrepreneurship, Vetrepreneur, Military Entrepreneurship