Every Memorial Day, we honor those who gave their lives in service to this country. But as we remember the fallen, we must also recognize the veterans who came home and continued to serve the country in different ways.
Across the country, millions of veterans have traded missions for markets and are commanding new kinds of operations: small businesses. They’ve gone from protecting freedom abroad to building opportunity at home. And they’re doing it with the same grit, leadership, and purpose that defined their time in uniform.
Did you know?
Veterans own over 1.6 million businesses in the U.S., employing more than 3.3 million people and generating $922 billion in annual revenue.
That’s one in every 18 business owners. Behind each of those businesses is a story of service reshaped into entrepreneurship.
This Memorial Day, we’re honoring the resilience, leadership, and impact of veteran entrepreneurs who’ve built thriving companies using their experience and teachings from the military.
Over 13% of veteran-owned businesses are in finance and insurance
Veteran entrepreneurs are making a powerful mark in industries often perceived as complex or exclusive. According to the U.S. Census Bureau, 13.2% of all veteran majority-owned businesses operate in the finance and insurance sector. That’s a significant number, showing that veterans are leading in fields that demand strategy, discipline, and long-term thinking.
Ben VerWys, Founder of Fiduciary Financial Advisors, is a standout example.
After the 9/11 attacks, Ben enlisted in the U.S. Navy, even though he had already discovered a passion for finance.
“Of course, there were not any finance jobs in the military,” Ben recalled with a laugh.
So, he joined the Military Police and served with dedication. After the military, Ben transitioned back into the finance sector. He worked for a major bank and later joined Oppenheimer & Co., where he started advising business owners on a wide spectrum of financial management.
In 2014, Ben launched his own firm. He had no client portfolio, guarantees, or safety net, but he did have a mindset shaped by military precision.
“I infused my business with things I used in my military background,” he said.
He built the business around repeatable systems: every client interaction followed a structured workflow, and every process had documentation. When his team handed off client cases, they followed a protocol he called “Clean Pass Down,” modeled after military operations.
“It ensures that when coworkers share information on projects and clients, a full and detailed report is provided so everyone has the same information,” Ben explained. This level of structure helped reduce mistakes, increase transparency, and keep the business running efficiently, especially in its earliest, leanest years.
Today, his firm specializes in helping entrepreneurs like himself navigate complex financial and succession planning because, as Ben realized, “Owners felt more comfortable with advisors who shared in their experience.”
More than 15,000 veteran-owned businesses are led by Black entrepreneurs
This number reflects the growing leadership of Black veterans in sectors that demand resilience, innovation, and deep community roots. And D’Andre Lampkin embodies this momentum perfectly.
As a former law enforcement officer, D’Andre didn’t stop serving when he left the badge behind. Instead, he channeled his drive for public service into entrepreneurship, launching Care Staffing Professionals, a healthcare staffing company that helps place qualified professionals in medical facilities across California. In doing so, he created opportunities for thousands of healthcare workers seeking stable, meaningful jobs.
But D’Andre’s impact reaches far beyond business.
As the founder of the Lampkin Foundation, a nonprofit focused on advancing “social good” initiatives, he’s actively investing in underserved communities. Whether it’s disaster relief, education, or local development, the foundation stands as a vehicle for long-term change, driven by someone who understands what it means to lead from the front.
Today, he serves the City Planning Commission in Ontario, California, while also leading and advising on multiple boards committed to rebuilding and recovery. Whether it’s healthcare, housing, or civic engagement, he’s constantly pushing for systems that actually work for people.
His journey is a blueprint for what veteran leadership can look like in the business world and beyond.
Veterans are transforming the tech world; over 52,000 businesses and counting
Veterans are making a serious mark in the professional, scientific, and technical services space. In fact, around 52,167 veteran-owned businesses operate in this sector, making it the most popular industry among veteran entrepreneurs, according to recent U.S. Census data. That’s 6.1% of all businesses in this field.
One standout example is Marc Alacqua, Steve Davis, and Altaf Bahora. These veterans transformed advanced intelligence technology used in special operations forces in Afghanistan into a cutting-edge data fusion and analytics platform called Signafire.
Signafire’s platform collects and analyzes vast amounts of data from multiple sources, both structured databases and unstructured content like emails or reports, to detect early warning signs of potential product defects, operational risks, or security threats. By uncovering these hidden insights, their clients can address issues before they escalate, protecting consumer safety and avoiding costly recalls or failures.
Their clientele includes major players like JP Morgan Chase, Major League Soccer, and Blackberry, who rely on Signafire to get a comprehensive, real-time picture of their data and make smarter, faster decisions. This tech and their company are a reminder of what veterans bring to the table: precision, clarity, and an unshakeable mission-first mindset.
Female veterans make up about 15% of veteran business owners
Though roughly 84% of veteran business owners are male, female veterans (15-16%) are increasingly shaping the business landscape with dedication and innovation.
Take Natalie Oliverio, a Navy veteran and founder of Military Talent Partners, a company focused on connecting veterans and military spouses to meaningful career opportunities nationwide.
Natalie’s company goes beyond traditional recruiting by offering free mentorship programs and a unique, six-week online coaching course designed specifically to prepare transitioning service members and career changers for success. This program covers everything from clarifying career goals to mastering resume writing and interview skills, essential tools often missing from formal education.
“It’s an intense coaching program with a curriculum that’s unique to us. We teach people how to figure out what they want to do and why,” Natalie explains.
Every day, Military Talent Partners supports thousands of veterans by providing mentorship and coaching at no cost, while partnering with some of the largest mentorship organizations to strengthen veteran career pathways.
Her work exemplifies how female veteran entrepreneurs are addressing critical gaps in veteran employment with determination and purpose, proving that female veterans can and do build successful businesses in a traditionally male-dominated space.
Veterans are 35% more likely to launch businesses
According to SCORE’s survey, veterans credit their military service with equipping them for small business leadership. 75.6% of veterans say the military taught them the value of hard work, and almost 57.7% point to leadership skills as key strengths learned in the military. Interestingly, veterans are also over 35% more likely to launch businesses as a way to supplement their primary income, showing how entrepreneurship offers both opportunity and financial stability.
Mike Kim’s journey with KPOP Foods perfectly illustrates these qualities. As a U.S. Army veteran and former project manager in Afghanistan, Mike learned resourcefulness and perseverance in some of the most challenging environments.
He recalls, “I never tell myself I can’t accomplish a task. I ask myself instead how I’m going to accomplish a task.”
This mindset drove him to co-found KPOP Foods with Theo Lee, combining Mike’s military discipline with an 80-year-old family Korean recipe and a shared passion for food. When they launched a Kickstarter campaign to fund their flagship Korean Chili Sauce, they set a modest goal of $10,000. Their community’s response was immediate and overwhelming: they surpassed that goal in just eight hours and ultimately raised over $37,000 from more than 1,200 backers.
Mike’s military leadership shines through in how he runs the company culture: “I learned as a leader in the military that to bring out the full potential of my team, I needed to give them my all, love them as if they were my family.” This approach has fueled KPOP Foods’ success and created a close-knit team bonded by trust and shared purpose.
Now, the brand is available in more than 1,300 retail locations nationwide, growing nearly 400% in store count during the pandemic. In 2023, KPOP Foods was acquired by Wooltari USA, a leading Korean grocery retailer in the U.S.
As a wholly owned subsidiary, KPOP Foods is now positioned to scale even further, benefiting from Wooltari’s product development, sourcing, and operations capabilities.
“We share a common vision, and our teams possess expertise and knowledge in complementary areas,” said Theo Lee. “Together, we’re excited to influence the future of Korean food in the U.S.”
For Mike, what started as a side project fueled by passion and perseverance has grown into a lasting legacy, proof of what veteran-led entrepreneurship can achieve.
But even heroes need a back office they can trust
The journey from service member to business owner is filled with determination, courage, and long hours that rarely make headlines. While vision and leadership come naturally to many veterans, the behind-the-scenes work, like managing cash flow and preparing for growth, brings a whole new set of challenges.
That’s where solid bookkeeping and accounting play a crucial role in making smart financial decisions. However, like most business owners, you probably do not have expertise in bookkeeping or tax planning, and trying to do it all on your own is a recipe for costly mistakes.
So what’s the better move? Partner with experts who keep your finances organized and your business on track to success. That’s exactly what we do at CoCountant.
As part of our full-spectrum financial services, we help business owners – veterans and civilians – gain control of their finances with expert bookkeeping and accounting. From managing day-to-day transactions and payroll to preparing accurate financial reports, our team ensures your books are always up to date. Our QuickBooks-certified expert bookkeepers provide timely reporting and detailed records, helping you track expenses, monitor cash flow, and stay on top of your business’s financial health.
