2021 Data Brief: Black and African American Veteran Entrepreneurs - Institute for Veterans and Military Families

Authors: Rosalinda Maury, M.S. | Mirza Tihic, Ph.D. | Najla Almissalati

This brief provides highlights from the 2020 National Survey of Military-Affiliated Entrepreneurs study focusing on Black and African American veteran entrepreneurs. These findings are based on the data collected from 333 Black and African American veteran entrepreneurs, which represents 21% of the respondents that answered the race/ethnicity question of the 2020 survey. This study monitors trends in the activity, needs, and economic, social, and policy barriers of military-affiliated entrepreneurs in the United States.

To learn more about this study and other briefs, publications, and presentations, please visit our National Survey of Military-Affiliated Entrepreneurs Page.

A Few Key Takeaways

51% of Black Veteran Entrepreneurs started their business to be a financially independent yet 52% lacked initial capital

43% of Black Veteran Entrepreneurs started their business to help society and support their communities

49% of Black Veteran Entrepreneurs were turned down by a creditor or lender when seeking funding in 2019

44% of Black Veteran Entrepreneurs indicated that their business debt is on credit cards

34% of Black Veteran lack mentors for their business