It’s a challenging moment for American entrepreneurs. Many are struggling with product stuck overseas in the face of unpredictable tariffs. Others are scrambling to rebuild their supply chains, or reconsidering their IPO timeline. Talk of an imminent recession has investors looking for somewhere to hide.
In the face of all this, IVMF held its 7th Annual Veteran EDGE Conference in Dallas, TX last month, from March 19-21, 2025. It brought together 354 veteran entrepreneurs with actively scaling businesses, representing just over two billion dollars in annual revenue in one room. Collectively, these business leaders sought and shared strategies for survival and growth in this uncertain market.
Entrepreneurs found an outlet for their uncertainty, anxiety, and even fear among their peers. Nationally renowned experts offered some answers, and the IVMF staff was on hand to facilitate connections between entrepreneurs that could potentially solve each other’s problems.
Facing the State of Veteran Entrepreneurship
Mike Haynie, Executive Director of the IVMF and Vice Chancellor at Syracuse University, set the tone for the conference by reminding everyone that veteran entrepreneurship is not just about the people in the room, but also innovating, strengthening America’s economy, and raising the level of global competition. Haynie called on attendees to see their efforts not just as business ventures, but as critical to the broader American economic engine.
While veteran- and military spouse-owned businesses contribute millions of jobs and billions in revenue, they continue to face persistent challenges when compared to their civilian counterparts. Among the most pressing are limited access to capital, the challenge of recruiting and retaining talent, and changing procurement landscapes at major corporations, to say nothing of recent supply chain challenges.
A Data-Driven Look at Today’s Challenges
Adam Pritchard, IVMF’s Assistant Director of Research and Evaluation, delivered the latest research on veteran entrepreneurship. His findings revealed that despite veteran entrepreneurs out-earning civilian peers, fewer veterans are launching businesses.
Several factors contribute to this trend:
- Broader Decline in Small Business Formation: Whether entrepreneurs are still recovering from the string of some half-dozen economic crises since the 2008 housing bubble bursting, or other factors are at play, fewer entrepreneurs are launching businesses in general.
- Attractive Private Sector Jobs: Veterans are increasingly landing stable, lucrative corporate roles, making the early risks of entrepreneurship less attractive.
- Rise of Hybrid Entrepreneurs: Many veterans balance full-time jobs with side businesses, enabled by AI and digital platforms—a trend traditional data struggles to capture.
Pritchard also previewed an upcoming research brief, “The Ins and Outs of Procurement Contracting”. Early findings show that nearly half of veteran entrepreneurs pursue procurement contracts (47%). Between corporate and government contracting, research showed more veteran entrepreneurs felt corporate contracts provided a better ROI than government contracts (27% vs. 18%), while nearly half of veteran entrepreneurs surveyed said their corporate procurement contracts had higher profit margins than government contracts.
While corporate procurement contracts are highly sought after, access for veteran entrepreneurs still seems sub-optimal. Pritchard flagged mentorship, stronger networks, and improved processes as key areas for helping more veteran businesses land contracts.
Still, the corporate procurement landscape remains competitive. Mark Espinoza, the Senior Director of Public Affairs at Walmart, stressed that the customer is key. If a product doesn’t sell, it won’t last. He also noted that Walmart’s shelves are already full. “If you want your product on the shelf, another product has to come off.”
Real-World Lessons for a Tough Market
This year’s EDGE conference also featured a dynamic panel of corporate leaders and entrepreneurs who have weathered their share of storms. Key lessons for facing the uncertain times ahead included:
- Relationships are Everything: Meg Hendricks of Fiserv urged entrepreneurs to invest in their brand and their network. Clarity on what makes a business unique—and building authentic relationships—can open otherwise closed doors.
- Proactive Hiring Matters: Alex Dietrich, the Transformation Strategy Lead at Syracuse University, said planning ahead with talent is crucial for building a strong team, and many other panelists stressed that reactive hiring creates vulnerabilities.
- Fear is Inevitable—But Conquerable: Jackson Dalton, founder of Black Box Safety, Inc., shared candidly about the fear he faced in entrepreneurship. Fear of hiring, of lawsuits, of financial loss, and more. He urged entrepreneurs to acknowledge their fear, but not to let it dictate business decisions.
Forging Ahead
Throughout the conference, one theme was clear: these veteran entrepreneurs are not naive about the road ahead. They see the economic headwinds, the supply chain bottlenecks, and the capital constraints, but they are determined to act instead of react.
They are adapting. They are forging partnerships. They are investing in their people. They are sharing what works, and learning from what doesn’t.
The 2025 Veteran EDGE Conference was more than just an event—it was a show of collective resilience. Veteran entrepreneurs are ready to meet the moment, and with the support of research, community, and hard-earned wisdom, they are feeling more ready than ever to face the new business environment.
Stay Up To Date on the State of Entrepreneurship
Stay informed by downloading IVMF’s “The Ins and Outs of Procurement Contracting” research brief for even more insights on how veteran entrepreneurs can continue to navigate the rapidly changing business landscape.
Also, we’d encourage you to keep and eye out and participate in IVMF’s State of Entrepreneurship study. Sent to program alumni every spring, we do this research to help inform policy-makers and key members of the government and entrepreneurial landscape on problems veteran entrepreneurs are facing today. Your participation ensures that your story is part of the data that makes it to key decision-makers.
Finally, don’t miss out! Join IVMF’s family of veteran and military spouse entrepreneurs by signing up for a program in our entrepreneurship portfolio today! No matter what stage your business is at, from just an idea on a napkin to scaling nationwide, or anything in between, we have a program designed to get you to the next level.