Veteran-owned Businesses and their Owners—Data from the …

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Veteran-owned Businesses and their Owners-- Data from the Census Bureau's Survey of Business Owners

Office of Advocacy U.S. Small Business Administration

March 2012

Created by Congress in 1976, the Office of Advocacy of the U.S. Small Business Administration (SBA) is an independent voice for small business within the federal government. Appointed by the President and confirmed by the U.S. Senate, the Chief Counsel for Advocacy directs the office. The Chief Counsel advances the views, concerns, and interests of small business before Congress, the White House, federal agencies, federal courts, and state policy makers. Economic research, policy analyses, and small business outreach help identify issues of concern. Regional Advocates and an office in Washington, D.C., support the Chief Counsel's efforts.

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Table of Contents

Executive Summary and Key Statistics .............................................................................. 1 Chapter 1 - Introduction...................................................................................................... 5

Data on Veteran-Owned Businesses............................................................................... 7 How This Report is Organized ....................................................................................... 8 Statistical Considerations................................................................................................ 9 The Veteran Population ................................................................................................ 10 Chapter 2 - Veteran-Owned Businesses ........................................................................... 11 Veteran-Owned Businesses by Industry ....................................................................... 11 Size of Veteran Owned Businesses by Sales/Receipts ................................................. 17 Size of Veteran-Owned Employers by Number of Employees .................................... 19 Veteran-Owned Businesses by Owners' Gender, Ethnicity and Race ......................... 22 Veteran-Owned Businesses by State ............................................................................ 23 Chapter 3 ? Characteristics of Veteran-Owned Firms...................................................... 34 Home-Based Businesses ............................................................................................... 35 Family-Owned Businesses............................................................................................ 38 Businesses Operating as Franchises ............................................................................. 41 Businesses by Percentage of Export Sales.................................................................... 44 Seasonal and Part-Time Businesses.............................................................................. 45 Sources of Capital for Startup or Firm Acquisition ...................................................... 46 Sources of Capital for Expansion or Capital Improvements ........................................ 46 Businesses by Types of Customers............................................................................... 49 Businesses by Types of Workers .................................................................................. 50 Types of Benefits Provided by Employer Firms .......................................................... 51 Businesses by Number of Owners ................................................................................ 52 Chapter 4 ? Business Owner Characteristics .................................................................... 53 Age of Business Owners............................................................................................... 54 Education Level of Business Owners ........................................................................... 55 Owners' Primary Function in Business ........................................................................ 56 Number of Hours Worked in the Business ................................................................... 57 Business Income as the Owner's Primary Source of Income ....................................... 58 Service-Disabled Veteran Owners................................................................................ 58 Service-Disabled Veteran Business Owners by Industry ............................................. 59 Conclusion ........................................................................................................................ 61 Appendix........................................................................................................................... 63

Table of Tables

Table 1: Veterans by sex, age, disability status, and period of service ? 2007................ 10 Table 2: Distribution of all firms and veteran-owned firms by industry ? 2007 ............. 12 Table 3: Number and percentage of veteran-owned firms by industry - 2007 ................ 14 Table 4: Veteran-owned firms' sales/receipts by industry ? 2007 .................................. 15 Table 5: Distribution by industry of sales for veteran-owned and all firms ? 2007 ........ 16 Table 6: Distribution by receipts size of all firms and veteran-owned firms ? 2007....... 18 Table 7: Number and percentage of veteran-owned firms by receipts size - 2007.......... 19

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Table 8: Distribution by employment size of employer firms ? 2007 ............................. 21 Table 9: Number and percentage of veteran-owned employer firms by size ? 2007 ...... 21 Table 10: Veteran-owned firms by owners' gender, ethnicity, minority status and race . 22 Table 11: Veteran-owned firms by state, sorted alphabetically ? 2007............................ 24 Table 12: Number of veteran-owned firms by state, ranked by number ? 2007 .............. 26 Table 13: Receipts of veteran-owned firms by state, ranked by amount ? 2007.............. 28 Table 14: Percent share of veteran-owned firms in state, ranked by share - 2007 ........... 30 Table 15: Percent share of veteran-owned firms' state sales, ranked by share - 2007 ..... 32 Table 16: Home-based businesses by industry ? 2007 ..................................................... 36 Table 17: Home-based employer businesses by number of employees ? 2007 ............... 37 Table 18: Family-owned businesses by industry ? 2007 .................................................. 39 Table 19: Family-owned employer businesses by number of employees ? 2007 ............ 40 Table 20: Businesses operating as franchises by industry ? 2007 .................................... 42 Table 21: Franchised employer businesses by number of employees ? 2007 .................. 43 Table 22: Businesses by percentage of export sales - 2007.............................................. 44 Table 23: Seasonal and part-time businesses.................................................................... 45 Table 24: Sources of capital for business startup or acquisition - 2007 ........................... 47 Table 25: Sources of capital for business expansion or capital improvements ? 2007 .... 48 Table 26: Businesses by types of customers ? 2007......................................................... 49 Table 27: Businesses by types of workers used ? 2007.................................................... 50 Table 28: Types of benefits provided by employer firms ? 2007..................................... 51 Table 29: Businesses by number of owners - 2007 .......................................................... 52 Table 30: Age of SBO-respondent firm owners ? 2007 ................................................... 54 Table 31: Education levels of business owners ? 2007 .................................................... 55 Table 32: Owners' primary function in business ? 2007 .................................................. 56 Table 33: Hours worked in the business ? 2007 ............................................................... 57 Table 34: Business income as primary source of owner income ? 2007.......................... 58 Table 35: Service-disabled veteran business owners ? 2007............................................ 59 Table 36: Service-disabled veteran business owners by industry ? 2007......................... 60

Table A-1: All United States firms by industry ................................................................ 64 Table A-2: Relative standard errors for SBO data on all U.S. firms by industry ............. 65 Table A-3: Veteran-owned firms by industry................................................................... 66 Table A-4: Relative standard errors for SBO data on veteran-owned firms by industry . 67 Table A-5: All United States firms by sales/receipts and employment size..................... 68 Table A-6: Relative standard errors for SBO data on all U.S. firms by size .................... 69 Table A-7: Veteran-owned firms by sales/receipts and employment size........................ 70 Table A-8: Relative standard errors for SBO data on veteran-owned firms by size ........ 71 Table A-9: All U.S. firms by majority ownership demographics..................................... 72 Table A-10: Relative standard errors for SBO data on ownership demographics............ 73 Table A-11: Veteran-owned firms by majority ownership demographics ....................... 74 Table A-12: Relative standard errors for data on veteran ownership demographics........ 75 Table A-13: All U.S. firms by state .................................................................................. 76 Table A-14: Relative standard errors for SBO data on all U.S. firms by state ................. 78 Table A-15: Veteran-owned firms by state....................................................................... 80 Table A-16: Relative standard errors for SBO data on veteran-owned firms by state ..... 82

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Table of Figures

Figure 1: Veteran-owned firms by industry ? 2007......................................................... 11 Figure 2: Size of veteran-owned firms by level of sales/receipts - 2007......................... 17 Figure 3: Size of veteran-owned employers by number of employees - 2007 ................ 20

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