Insights from the Military Entrepreneurship Forum (MEF) Roundtables and the National Survey of Military-Affiliated Entrepreneurs (NSMAE)
This brief is designed for funders, program leaders, and policymakers working to build stronger veteran entrepreneurship ecosystems, bringing together insights about veteran entrepreneurial ecosystems from Military Entrepreneurship Forum (MEF) roundtable conversations, the National Survey of Military-Affiliated Entrepreneurs (NSMAE), and other entrepreneurship research. Rather than offering a one-size-fits-all solution, this paper lays out a set of components that communities can use to strengthen their own ecosystems. Veteran entrepreneurship is a lens into broader questions of economic mobility, local resilience, and civic leadership. But systems matter. With veteran-serving organizations facing revenue declines and donor fatigue, coordinated entrepreneurial ecosystems are a necessity. Veteran entrepreneurship is not just a matter of personal success; it’s a strategy for national resilience, economic revitalization, and civic strength. While each community is different, these recommendations offer adaptable building blocks rooted in research and veteran experience.
Selected Insights for Veteran Entrepreneurs
Between 2017 and 2022 veterans were 10% more likely to be self-employed than non-veterans.- 93% of veteran entrepreneurs say their military skills have helped them in their business endeavors.
Challenges faced by veteran-owned businesses include:
- Access to capital.
- 37% of veteran entrepreneurs have difficulty accessing capital.
- 52% say they need more tailored financial products as their businesses grow.
- Resource availability.
- 46% of veteran entrepreneurs say it is hard to find or access local resources.
- 65% of rural veterans report difficulty accessing business support networks.
Military Entrepreneurship Forum
Beginning in 2022, IVMF has organized Military Entrepreneurship Forums (MEF) throughout the United States. Each forum included a roundtable discussion with local leaders, entrepreneurs, and ecosystem partners. These sessions brought together veteran entrepreneurs, nonprofit leaders, funders, and local officials to identify both strengths and gaps in local ecosystems.
Findings from these forums inform a new framework offered in this brief for understanding and strengthening veteran entrepreneurial ecosystems.
The Components of a Success Veteran Entrepreneurial Ecosystem
1. Connectivity & Collaboration
How well people, institutions, and networks are linked to support veteran entrepreneurs. Shared military values often help build trust and facilitate peer support across sectors.
2. Navigation & Timing
Whether veteran entrepreneurs can find the right resources at the right time. Familiarity with or trust in available programs can affect how veterans navigate support systems.
3. Support Throughout the Entrepreneurial Journey
Sustained help through different phases of business ownership. Veterans may start businesses at any point after military service, so ecosystems need to provide access to resources and guidance from early exploration through growth.
4. Capital & Financial Readiness
Being prepared to secure the right type of capital at the right time to meet business goals. It’s not just about funding, veterans may hesitate to ask for help, and many need support understanding what capital is available, when to pursue it, and how to use it effectively.
5. Flexibility & Responsiveness
Whether systems, markets, and policy evolve to meet changing needs. Strong ecosystems respond not only to shifting business and political environments but also to the varied goals and life circumstances of veteran entrepreneurs.
View the full brief today for full insights on these ecosystem components along with actionable recommendations for building robust, capable entrepreneurial networks.
