POTTSTOWN, PA — SCORE Tri-County is extending its support to military veterans by providing no-cost business mentoring services tailored to their unique entrepreneurial needs. The goal is to help veterans start, buy, or grow their own businesses in western Montgomery, northern Chester, and eastern Berks counties.
Veterans have long demonstrated exceptional potential as business owners. Recent research highlights their success, with 80% of the 1.7 million veteran-owned businesses reporting satisfaction with their achievements. Additionally, veteran-owned businesses boast a five-year survival rate that is double that of non-veteran counterparts.
Mentorship has proven to be a significant factor in entrepreneurial success. Data from the U.S. Small Business Administration reveals that small business owners with a mentor achieve a 70% success rate, compared to just 35% for those without one. To enhance its mentoring efforts, SCORE has developed veteran-specific resources as part of National Military Appreciation Month.
The SCORE Veterans Small Business Resource Guide equips mentors with tools to help veterans create business plans, secure funding, and explore opportunities such as buying a business or franchise. It also offers access to workshops, webinars, and one-on-one support from SCORE’s 10,000-strong mentor network.
“Volunteering at SCORE is my way of showing appreciation to those who helped and guided me during my career while sharing my background and experience to help entrepreneurs succeed,” said Ed Coleman, SCORE Mid-Atlantic Regional Vice President and a U.S. Army veteran. “While I enjoy working with all SCORE clients, I particularly enjoy working with veterans to translate their military experience into entrepreneurship. Helping clients realize their dreams is very gratifying and the essence of the SCORE mission.”
SCORE Tri-County Chapter Co-Chair Frederick Remelius emphasized the importance of catering to veterans’ unique needs. “Military transitioning from active duty have different needs than civilians in terms of starting a business,” said Remelius. “It’s wonderful to have veterans’ resources at our volunteers’ fingertips to aid in mentoring our service men and women.”
Veterans currently make up 10% of SCORE’s client base and own 10% of small businesses and 14% of franchises nationwide. Their discipline and ability to execute plans make them particularly well-suited to franchise ownership. Veteran-owned businesses employ more than 5 million people in the United States and generate over $1 trillion in annual revenue, with 40% surpassing $500,000 in annual income.
With robust resources and expertise, SCORE continues to stand as a crucial partner for veterans transitioning into entrepreneurship, helping them achieve long-term success in the small business world.
Discover more about SCORE, connect with a mentor, or explore volunteer opportunities by visiting score.org.
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