Sam’s Club/Gallup Survey Finds Nearly One in Five U.S. Microbusiness Owners Are Veterans
Many Americans who have served in the U.S. military now apply their skills to grassroots entrepreneurship, according to the Sam’s Club/Gallup Microbusiness Tracker, which also reveals that veteran microbusiness owners – vetrepreneurs – experience success in business startups and are expressing optimism moving into 2015.
In fact, 19 percent of overall American microbusiness owners, defined as firms of five or fewer workers, are vetrepreneurs and 34 percent claim to have annual income of more than $100,000 from their business ventures. Looking at the future, business prospects remain bright with 86 percent of vetrepreneurs expecting their business revenue to stay the same or grow in 2015.
Their forecasts for growth are tempered against a backdrop of uncertainty about the U.S. economy with 34 percent of vetrepreneurs expecting no growth and an additional 14 percent expecting revenues to shrink. Furthermore, more veteran than non-veteran microbusiness owners feel the U.S. economy will get worse (61.6% compared to 55.3%) and are less likely to believe it will improve (28.8% compared to 38.3%) in the next year.
Examining both the economic and emotional concerns for their businesses, the Sam’s Club/Gallup Microbusiness Tracker reports that a remarkable 59 percent of vetrepreneurs started their company because it was a dream to own a business. More vetrepreneurs feel they have the ideal job than those who did not serve in the military (72.5% compared to 62.2%) and they are more energized by their work (73.1% compared to 64.7%).
“Sam’s Club is humbled and encouraged by the positive impact our nation’s service members are making in the small business community,” said Rosalind Brewer, president and CEO of Sam’s Club. “One of the biggest needs in the veteran community is employment. Sam’s Club is making a concerted effort to support initiatives including Hiring our Heroes and V-WISE (Veteran Women Igniting the Spirit of Entrepreneurship) to give vetrepreneurs the tools and training necessary to prepare for a career beyond the military.”
The Sam’s Club/Gallup Microbusiness Tracker results reflect 1,006 phone interviews conducted September 2-16, 2014 with companies of five or fewer workers. For further information please download the Sam’s Club/Gallup Microbusiness Tracker October 2014 Report at SamsClub.com/newsroom.
About The Sam’s Club/Gallup Microbusiness Tracker
The Sam’s Club/Gallup Microbusiness Tracker is a nationally representative survey that regularly reports on U.S. businesses with five or fewer workers, a key driver of U.S. economic growth. The tracker provides valuable insight into the mood and mind of microbusiness owners for decision makers and influencers in government and commerce by highlighting the unique concerns and challenges of microbusinesses along their path from startup to maturity. To learn more about the Sam’s Club/Gallup Microbusiness Tracker, visit SamsClub.com/Newsroom or Gallup.com.
Gallup delivers forward-thinking research, analytics, and advice to help leaders solve their most pressing problems. Combining more than 75 years of experience with its global reach, Gallup knows more about the attitudes and behaviors of the world’s constituents, employees, and customers than any other organization.
About Sam’s Club
Sam’s Club(R), a division of Wal-Mart Stores, Inc. (NYSE:WMT) , is a leading membership warehouse club offering superior products, savings and services to millions of members in 643 clubs in the U.S. and Puerto Rico. To learn more about Sam’s Club, visit the Sam’s Club Newsroom, shop at SamsClub.com, and interact with Sam’s Club on Twitter and Facebook.
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