Veteran-owned businesses make up a significant part of the U.S. economy. As of 2021, there were nearly 338,000 such businesses nationwide, accounting for 5.9% of all businesses.
Most veteran-owned businesses are small businesses. The majority (54%) of veteran-owned firms have just one to four employees and 71.3% have between one and nine. With that in mind, lawmakers have made it their business to help veteran entrepreneurs succeed — especially those who own small businesses.
In 1999, Congress passed the Veterans Entrepreneurship and Small Business Development Act. The new law directed that aid be given both to veterans and service-disabled veterans. As a result, the federal government now prioritizes contracts for veteran-owned small businesses (VOSB) and service-disabled veteran-owned small businesses (SDVOSB).
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