Entrepreneurship Among Veterans: Comparative Evidence from Recent Surveys

International Small Business Journal: Researching Entrepreneurship, 0[10.1177/02662426241278216]

33 Pages Posted: 13 Aug 2024

See all articles by Aaron Phipps

Aaron Phipps

United States Military Academy, West Point

Bill Skimmyhorn

Mason School of Business, College of William & Mary; U.S. Army Office of Economic and Manpower Analysis

Date Written: June 25, 2024

Abstract

The large literature on the correlates of entrepreneurship pays little attention to America's military Veterans. We leverage two national surveys with rich demographic and behavioral data to estimate how military experience relates to entrepreneurship and financial success. After accounting for demographic differences, Veterans are less likely to become entrepreneurs than their peers. Veteran entrepreneurs also earn less and have lower financial satisfaction. These results contradict the common narrative and theoretical expectation that average military experience imparts human capital that prepares Veterans for entrepreneurship. We also find that female, Black, and more educated Veterans are relatively more likely to pursue entrepreneurship.

Keywords: Entrepreneurship, Self-employment, Veterans, Financial well-being JEL Codes: L26

JEL Classification: L26, J23, J24

Suggested Citation

Phipps, Aaron and Skimmyhorn, William, Entrepreneurship Among Veterans: Comparative Evidence from Recent Surveys (June 25, 2024). International Small Business Journal: Researching Entrepreneurship, 0[10.1177/02662426241278216], Available at SSRN: https://ssrn.com/abstract=4912070 or http://dx.doi.org/10.1177/02662426241278216

Aaron Phipps (Contact Author)

United States Military Academy, West Point ( email )

600 Thayer Rd
West Point, NY 10996
United States

William Skimmyhorn

Mason School of Business, College of William & Mary ( email )

Williamsburg, VA
United States

HOME PAGE: http://https://mason.wm.edu/faculty/directory/full-time-faculty/skimmyhorn_w.php

U.S. Army Office of Economic and Manpower Analysis ( email )

West Point, NY
United States

Do you have a job opening that you would like to promote on SSRN?

Paper statistics

Downloads
21
Abstract Views
108
PlumX Metrics