Hispanics & Latinos in the Military: The Path from Service to Veteran Entrepreneurship

This brief provides highlights from the 2021 National Survey of Military-Affiliated Entrepreneurs (NSMAE) focusing on Hispanic, Latino/a/x, or Spanish origin (for example Mexican or Mexican American, Salvadoran, Puerto Rican, Dominican, Cuban, Colombian, etc.) veteran entrepreneurs. NSMAE monitors trends in the activity, needs, and economic, social, and policy barriers of military-affiliated entrepreneurs in the United States. This annual survey and forthcoming public dataset will be an enduring source of current insights for public and private sector leaders, policymakers, and community-based organization on systemic barriers to and drivers of entrepreneurial success among veterans and their family members.

The findings in this brief are based on the data collected from 172 Hispanic, Latino/a/x, or Spanish origin veteran entrepreneurs, which represents 9.7% of the respondents in the 2021 survey.

Read the accessible Word version of the data brief.

To learn more about this study and other briefs, publications, and presentations visit The NSMAE Series.

A Few Key Takeaways

48 % of Hispanic and Latino/a/x veteran entrepreneurs consider themselves as a social entrepreneur

Top Motivations for Hispanic and Latino/a/x Veteran Entrepreneurs

To be financially independent/increase personal income
44%
Maintain personal freedom
37%
Improving quality of life
34%
Chance to implement own ideas/creating something
33%
Make my own decisions
29%

Top Barriers in Pursuing or Achieving Business Goals

Lack of access to capital
46%
Lack of financing
32%
Irregular income
26%
Current economic situation
24%
Lack of mentors for my business
24%

Entrepreneurial Ecosystem

Have difficulty navigating the resources in their local community
41%
Have difficulty coping with government bureaucracy, regulations & licensing requirements
42%
Can’t afford the latest technology
48%
Can’t afford the cost of using subcontractors, suppliers, and consultants
43%
Believe the certification process is difficult
51%
Indicate there are not an adequate number of government programs that support their business
44%

Lending

Indicated that the capital they need is not readily available
50%
Applied for credit/financing with a lender or creditor
68%

 

Of those that applied:

27% of those that applied were turned down (compared to 14% of white peers)
27%
48% that were turned down did not apply again
48%
Had an interest rate of 15% or higher on loan/credit card with the largest balance
33%
Were able to financially sustain themselves/family with income of their business
34%
State that their business’ financial condition causes them stress
67%

Military, Transition, and Entrepreneurship

Needed time to figure out what to do with their life during their transition
61%
Indicate that skills learned in military have helped them with their business
96%
Indicate that entrepreneurship helped them find a purpose after military
41%
Indicate that entrepreneurship made their transition into civilian life easier
44%

Health and Well Being

of Hispanic and Latino/a/x veteran entrepreneurs indicate that their general health was good, very good, or excellent
0 %
of Hispanic and Latino/a/x veteran entrepreneurs indicated that their disability creates obstacles in business ownership
0 %
of Hispanic and Latino/a/x veteran entrepreneurs had seriously consider attempting suicide this past year, of those 1 in 3 did NOT seek professional help
0 %

Other Publications

2022

Missing Perspectives: Women in the Military From Service to Civilian Life

Missing Perspectives: Black & African Americans in the Military—From Service to Civilian Life (2022)

2021

Native Americans in the Military: From Service to Civilian Life

Asian Americans and Pacific Islanders in the Military: From Service to Civilian Life 

2020

Hispanics and Latinos in The Military: From Service to Civilian Life

Women in the Military: Transition, Employment, and Higher Education After Service