Soldiers have a zest towards life with experimenting something new in life and they make better entrepreneurs. But the number of veteran entrepreneurs have decreased over the past many yeras, reveals a study conducted by Erwing Marion Kauffman Foundation. There are many stories that we hear about the brave soldiers, but little has been known about their contribution towards entrepreneurship. The brave hearts have shown dedication and service towards society, post their career in the military, reveals statistics. Therefore, Veteran's Day is observed in the U.S to honour armed force employess. However the number of startups by military veterans has witnessed a downfall, reports PR Web.
Veterans have built greater companies in the U.S, than non veterans. Sadly, the Erwing Marion study shows that the entrepreneurial activity has witnessed a steep decline since past two decades. In the year 1996, the percentage of veterans is 12.3 percent. The number of veterans in the year 1996 shows 12.3 percent representatives from the veterans, while the year 2011 index numbers say that only 6 percent of veterans are engaging themselves into entrepreneurship after their career.
It can be said that a part of the fall is due to the fact that non veteran startups are on rise buiding new companies. On the other hand, the larger part of the pie shows that the U.S working age population has propelled towards the fall of veterans. The share of the population stands at a current rate of 6.2 percent while earlier in 1996, it was 11.2 percent. “Because falling veteran entrepreneurship rates are due primarily to the aging vet population, the downward trend does not mean this important demographic group does not have an interest in starting companies and working to see those companies perform well,” said Dane Stangler, director of research and policy at the Kauffman Foundation.” , reports PR Web. In 2011, 0.32 percent adults started new companies each month compared to 0.30 percent of the total number of companies, which were started by veterans.
The Erwing Marion Kauffman foundation is a private unbiased foundation that works to increase human welfare. Through several studies and surveys it points out to the youth, various opportunities waiting for them by promoting entrepreneurship, the quest for knowledge and to increase social welfare. It has adopted technology, academic skills, and the opportunities in sports etc, as various eye opening sectors.