Census: 2.4 million vets owned businesses in 2007 p1 - Military - Start Your Own Business - Military Times Edge

A new report from the Census Bureau provides a detailed statistical look at veteran entrepreneurship in the U.S. for the first time.

In 2007, military veterans owned 2.4 million businesses, which accounted for 9 percent of all businesses nationwide, according to the Survey of Business Owners’ 2007 report. These businesses generated $1.2 trillion in receipts, or about 4.1 percent of all business receipts nationwide, and employed nearly 5.8 million people. The Survey of Business Owners defines veteran-owned businesses as firms in which U.S. military veterans own 51 percent or more of the equity, interest or stock of the business.

Nearly one-third of veteran-owned businesses — 32.5 percent — operated in the professional, scientific and technical services and the construction sectors.

The three states with the most veteran-owned businesses in 2007 were California, Texas and Florida. California had239,422 veteran-owned businesses, or 9.8 percent of all veteran-owned businesses in the United States. Texas had 199,476 businesses, or 8.1 percent, and Florida was home to 176,727 businesses, or 7.2 percent.