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Thousands of soldiers returning home from overseas deployment at the end of the year are most likely to try entrepreneurship rather than seek employment in companies as reported at BusinessNewsDaily.com.  With their training and discipline, they have high chances of success in running their own businesses.  Civic and business organizations are offering them assistance to guide them in this new chapter in their lives.

With thousands of troops scheduled to return home this winter from the war in Iraq, a shaky economy and a declining job market could send many on the path to becoming entrepreneurs on the home front.

Veterans increasingly are forgoing the more traditional route of finding a job working for someone else in exchange for the opportunity to own their own business. There are already more than 3 million veteran-owned businesses operating nationwide. And there are a number of organizations, businesses and associations looking to help them get started, offering everything from marketing help to the basics for a launch.

Terry Powell is the founder and chief executive officer of the Entrepreneur’s Source, which has helped thousands of veterans become business owners.

“In the last year or two, we have seen a lot more,” Powell told BusinessNewsDaily of veterans’ interest in becoming entrepreneurs.

Newly released U.S. Census Bureau statistics show that nearly 12 percent of the veterans who have left the service in the last decade are unemployed, and the grim economic climate is forcing more of them to become self-sufficient, Powell said.

Prepared for entrepreneurship

At Entrepreneur’s Source, Powell works specifically with veterans interested in owning a franchise, helping them choose operations that best fit their interests and skills.

“Veterans and military individuals make great franchise owners,” Powell said, noting their excellent abilities to follow systems and implement what they are trained on. “They are absolutely well-suited for each other.”

Chris Hale, president of the National Veteran-Owned Business Association, said the skills veterans learn while in the service give them a leg up on being a business owner overall.

Specifically, Hale said they become accustomed to working long hours; know what it takes to be a leader, how to work under pressure and how to inspire others; and understand the importance of working as part of a team for a greater goal.

“You know what you are capable of, and you know how to push your limits,” Hale said. “These are elements that speak to small business and being successful.”

Nationally, one in seven veterans owns their own business, Hale said.

“They are twice as likely to own a business as a nonveteran,” he said.

Photo by U.S. Department of Veterans Affairs