By LINDA F. HERSEY, STARS AND STRIPES • January 5, 2024

WASHINGTON – As a graying workforce of veterans who own small businesses in America retires, fewer younger veterans are stepping up to replace them, according to the Small Business Administration.

There are nearly 2 million veteran-owned small businesses across the United States that provide an annual payroll of $256 billion and employ 5.5 million workers, administration officials said.

But veteran-owned small businesses are on a steady decline, dropping by more than a half in a decade. They also represent a dwindling share of the nation’s small businesses – decreasing from 11% in 2014 to just more than 5% in 2021, the SBA said.

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