Veteran entrepreneurs fuel South Carolina’s economy

As South Carolina experiences rapid economic growth and development, veteran entrepreneurs are stepping up to lead.

Many veterans, who have significant leadership, discipline, team-oriented behavior and problem-solving skills honed by their time in the service, are translating those assets into ways to launch and grow successful businesses.

To encourage veterans to venture into entrepreneurship, the South Carolina Department of Veterans Affairs recently hosted its first-ever Veteran Entrepreneurship Forum. Designed to provide education, networking, and resource-sharing, the event attracted veteran business owners, industry experts and other organizations looking to empower veterans to start and grow businesses that will contribute to the long-term health of the state’s economy.

SCDVA secretary Todd McCaffrey said, “Recognizing that veteran entrepreneurs often ‘punch above their weight’ caused us to look for ways to assist the state’s economy by encouraging them to consider applying their skills and leadership talents to business. When veterans lead in business, their success reinforces the value all veterans bring to the state, their communities and our nation.”

David Rozelle, director of workforce enhancement at SCDVA, shared that post 9-11, top occupations in the state for veterans include management, business and financial services, as well as production, transportation and materials moving. Working in natural resources, construction, maintenance and other professional occupations is common.

“Veterans spent their time in service building teams and/or becoming effective teammates, and as they transition, they take that experience and skilled focus into an upskill process during their transition,” he said. “They bring with them soft skills that allow them to be good problem solvers and dedicated leaders of business. The most important skill they bring with them is an understanding of risk and risk management.”

Rozelle also spoke of the impact that veterans have on South Carolina beyond economics, saying 47% of veteran entrepreneurs identify as social entrepreneurs who are focused on solving community challenges through their business model.

“Beyond their measurable economic contribution, veteran entrepreneurs are drivers of community stability, civic engagement and social innovation,” he explained. “Veteran-owned businesses are far more likely than civilian-owned businesses to reinvest in community priorities and hire other veterans, creating a ripple effect that benefits the broader transition pipeline. This social impact model reflects a shared value proposition: empowering veterans to succeed in entrepreneurship strengthens workforce systems, reduces unemployment and underemployment, and deepens community resilience and cohesion.”

Feedback from the initial SCDVA forum was universally positive and, going forward, the organization plans to conduct similar annual events, as well as quarterly entrepreneurship workshops in each of South Carolina’s four regions. In the meantime, SCDVA invites communities to find ways to welcome veteran business owners into their network.

“Although joining a chamber is a good start, assisting newly established veteran-owned businesses in the community is important to allow them to thrive,” Rozelle said. “Any and every effort to assist those businesses in establishing themselves in your community allows for exceptional growth at the community level.”