Finding the right career after military service can be tricky, which is why starting a business is a great option for veterans. If you’re an entrepreneurial veteran, you can take advantage of the national, regional, and community support available to help you launch your own business. The following tips from Veterans Resources United of Central Kentucky will help you get started.
Start a home-based business.
A home-based business works well for first-time entrepreneurs because you’ll have convenience, flexibility, and low overhead. Some examples are freelance writing, online tutoring, or becoming a virtual assistant. If you need a bit of help getting started, check out local resources for mentorship and support.
When you do start your business, you should consider registering your company as an LLC, or limited liability company. An LLC is a great option because you’ll have less tedious reporting requirements and tax advantages, and your personal property will be kept separate from your business dealings. To start Kentucky LLC filing proceedings, look to an online formation service, which is much less expensive and a quicker process than working with an attorney.
Veterans often have great leadership and team-building skills. Even if you came from a desk job in the military, you went through basic training, so you also have a higher level of physical fitness than most civilians. This can translate well to personal training, starting a boot camp, and life coaching. After getting the necessary training and certifications, you can become a self-employed coach and train clients outdoors, in your home, or in a rented space. Consider contacting your local small business development center if you need assistance with the business end of things.
The outdoor industry, which employs 7.6 million Americans, is an untapped resource for veterans. If you’re a keen outdoorsy person, consider starting your own outfitter or guiding company for hunting, fishing, river rafting, or climbing. Keep in mind that you may need to get some additional education, a license, or certification first.
If you’re a dog lover, you might consider starting a dog walking business. Many veterans find that working with dogs or horses helps ease the transition back to civilian life. Don’t worry if you lack the necessary supplies or funds to get your dog-walking business off the ground — you can apply for a veteran business loan.
Starting a business is a great way for veterans to transition back into the workforce after military service. You’ll have flexibility in your schedule, the freedom to create your own role, the pride of ownership, and the opportunity to really pursue something you love. Even if you need some additional funding or training, there is support available to help veterans like you start a successful business.