The picture
Per Census + SBA, veteran-owned firms account for about 8.5% of all US businesses despite veterans being ~6% of the adult population. Veteran-owned firms have above-average revenue per firm.
Federal contracting advantage
The federal Service-Disabled Veteran-Owned Small Business (SDVOSB) program sets aside a 3% target of federal contracting for veteran-owned firms. In FY 2024, federal agencies awarded $28B to veteran-owned firms — slightly above the 3% target.
Top industries
- Construction
- Professional, scientific, technical services
- Trade (wholesale + retail)
- Health care + social assistance