Key Takeaways
- Discover how 676,000 veteran-owned firms achieved 71.7% average resilience scores during the COVID-19 pandemic.
- Analyze Professional Services leading veteran recovery with 125,000 firms and a 78.5% resilience score.
- Learn that veteran businesses maintained 77.8% payroll retention, protecting over 3 million American jobs.
- Compare industry recovery where 73% of veteran businesses adapted operations within just three months.
- Understand how Information Technology veteran firms scored highest at 82.1% resilience with 88.9% payroll retention.
Table of Contents
🎖️ Veteran Resilience: How Military-Trained Entrepreneurs Conquered COVID
When crisis strikes, military training kicks in. Our analysis of the U.S. Census Bureau’s Annual Business Survey reveals how veteran-owned businesses demonstrated extraordinary resilience during the COVID-19 pandemic, leveraging military discipline and adaptability to not just survive, but thrive.
🏆 Veteran Business Resilience by Industry
Where does this statistics data come from?
The data comes from official or cited sources such as government agencies, surveys, and industry reports; check the article and sources section for specifics.
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Many business statistics use U.S. Census Bureau, BLS, BEA, or other federal data.
Industry and trade groups often publish benchmarks and surveys.
Always verify the date and scope of the data when applying it to your situation.
How can I use these statistics for my business?
Use them to benchmark your performance, plan strategy, understand market and industry trends, and support decisions with evidence.
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Compare your metrics (e.g., revenue, employment, growth) to industry or regional norms.
Use trends to anticipate demand, hiring, or investment needs.
Cite statistics in business plans, pitches, and internal planning.
How often is this data updated?
Update frequency depends on the source; government data is often annual or quarterly. Check the article or source for the latest vintage.
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Census and BLS data often have a lag of several months to a year.
Some dashboards and tools are updated more frequently.
When in doubt, go to the primary source for release schedules.
What should I be careful about when using business statistics?
Be aware of definitions (e.g., what counts as a small business), geography and time period, and whether the data applies to your industry or situation.
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Definitions of firm size, industry, and geography vary by dataset.
Averages and aggregates can hide variation; look at breakdowns when available.
Use statistics as one input alongside your own data and judgment.
Who can help me apply this to my situation?
Consultants, accountants, and industry advisors can help you interpret data and apply it to your business; Business Initiative offers consultations for strategy and planning.
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A consultant can help you find the right benchmarks and set realistic targets.
For tax and structure questions, work with a qualified professional.
Use the data to ask better questions in those conversations.
--- **Source**: U.S. Census Bureau Annual Business Survey (ABS) - Characteristics of Businesses 2022 **Follow Us**: [@BisInitiative](https://twitter.com/BisInitiative) **Ready to Serve and Succeed?** Baruch Hashem, your military experience gives you every tool to dominate business—[Take Initiative Now](https://businessinitiative.org/register/)!
