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Letter: Frequent the businesses owned by veterans

During National Veterans Small Business Week, held this week, we celebrate the veterans, service members, and military spouses that are starting and growing businesses. These veteran-owned businesses serve to stimulate our local economies and make our communities great places to live and work.

Letter to the editor FSA
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To the veterans and their families that have served and are serving our country – thank you! We are thankful all year long for your contributions and look forward to honoring you on Nov. 11. During National Veterans Small Business Week, held this week, we celebrate the veterans, service members, and military spouses that are starting and growing businesses. These veteran-owned businesses serve to stimulate our local economies and make our communities great places to live and work.

According to a U.S. Census Bureau’s survey of small business owners, there are 2.52 million veteran majority-owned businesses in the U.S. In the same report, the Small Business Administration (SBA) revealed veteran owned small businesses employ more than 5 million people in the U.S. with an annual payroll of $195 billion. Additionally, they generated revenue of $1.14 trillion and represent 9.15% of all U.S. businesses. In North Dakota, Veterans make up 8.5% of all business owners.

Members of the military gain valuable skills while serving to protect our country, including potential technical skills that can be used to start a particular business such as being a computer engineer or automotive mechanic. They also gain soft skills such as problem-solving techniques, different approaches to planning and implementation, and ways of adapting to adversity. All excellent skills required to be successful small business owners in today’s ever-changing economic environment. Their success in business leads to a better economy and better communities for all of us.

Please join me in thanking and supporting a veteran-owned small business.

Alan Haut is the SBA’s North Dakota district director based in Fargo. He oversees the agency’s programs and services across the entire state.

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