New from U.S. Census: Characteristics of Veteran-Owned Businesses: 2002 & Characteristics of Veteran Business Owners: 2002

From the announcement:

Veterans tend to be better educated before starting or acquiring their businesses and older than other business owners, according to new reports released today by the U.S. Census Bureau.

Characteristics of Veteran-Owned Businesses: 2002 and Characteristics of Veteran Business Owners: 2002 show veteran business owners comprised about 3 million or 14.5 percent of the estimated 20.5 million owners of all firms that responded to the 2002 Survey of Business Owners (SBO).

The first-ever reports examining veterans in business show that prior to establishing, purchasing or acquiring their firms, veteran owners were somewhat better educated compared to other business owners. In 2002, veterans were about as likely to have either bachelor or postgraduate degrees as all owners of respondent business firms (40.7 percent vs. 40.1 percent). But they were more likely to have postgraduate degrees (19.2 percent vs. 17.3 percent) and less likely not to have graduated high school (4.3 percent vs. 6 percent).

Sixty-eight percent of veteran owners were age 55 or over, and 32 percent were 65 or older. By contrast, among all business owners of firms completing the survey, 31 percent were 55 or older.