Military service is highly correlated with self-employment, according to a new study from the Small Business Administration’s Office of Advocacy. The study found that veterans are at least 45 percent more likely than those with no active-duty military service to become entrepreneurs.
And rank does have its privileges, as least when it comes to exercising your entrepreneurial genes. Officers are 55.6 percent more likely to be entrepreneurs than enlisted personnel. The study suggests that this is related to differences in education; officers are more likely to have college educations. The differentials in education and entrepreneurship are similarly related in the civilian population.
The study, though, found no evidence that unique training or acculturation makes veterans more likely to be entrepreneurs. But the amount of time you spent in uniform did make a difference.
Compared with the whole population of veterans, those with three or four or fewer years of service are more likely to be self-employed, the study found. At the other end of the spectrum, lifers who spent 20 or more years in uniform before retiring also had higher rates of self-employment than veterans as a whole.