This brief provides highlights from the 2021 National Survey of Military-Affiliated Entrepreneurs (NSMAE) focusing on Black and African American veteran entrepreneurs. These findings are based on data collected from 327 Black and African American veteran entrepreneurs, which represents 21% of the respondents that answered the race/ethnicity question of the 2021 survey. This annual survey monitors trends in the activity, needs, as well as the economic, social, and policy barrier of military affiliated entrepreneurs in the United States. These findings will be an enduring source of current insights for public and private sector leaders, policymakers, and community-based organizations on systemic barriers to and drivers of entrepreneurial success among Black and African American veterans and their family members.
To learn more about this study and other briefs, publications, and presentations view the NSMAE Series.
A Few Key Takeaways
Entrepreneurship Characteristics
Top Motivations to Entrepreneurship are:
The opportunity to be financially independent
Maintain personal freedom
Personal belief / faith
consider themselves social entrepreneurs
0%
Transition
Entrepreneurship helped them find a purpose after military
58%
Entrepreneurship made their transition into civilian life easier
43%
Business Characteristics
Sole owners of their business
80%
Financially sustain themselves/family with income from their business
37%
Entrepreneurial Ecosystem
Difficulty navigating the resources in their local community
40%
The capital they need is not readily available
63%
Applied for funding (compared to 52% White/Anglo/Caucasian counterparts)
69%
*57% of those that applied for funding were turned down (compared to 29% White/Anglo/Caucasian counterparts)
Certification
Believe the certification process is difficult
73%
Bunker Labs is now part of the IVMF
Syracuse University’s D'Aniello Institute for Veterans and Military Families (IVMF) proudly announces the acquisition of Bunker Labs, a renowned non-profit organization dedicated to veteran and military-spouse entrepreneurs.