Maine: the fifth most supportive state for veteran-owned businesses

by Amanda Postma

Some veterans have a hard time getting into the workforce after having served. That’s why so many of them start their own business.

With more than 2.4 million of all American businesses being veteran-owned, it goes without saying that some states are definitely more supportive than others.

So we looked into it. By finding how many veteran-owned businesses were in each state and how many state-based sales go toward veterans, we were able to determine the states that provide the most support.

Most Supportive States

1. New Hampshire, 2. South Carolina, 3. Mississippi, 4. Alabama, 5. Maine, 6. Tennessee, 7. West Virginia, 8. South Dakota, 9. North Carolina, 10. Virginia.

These states are great places of support for veterans who are looking to start their own company. Make sure you keep reading to find out which states are the least supportive.

How we determined the most supportive states for veteran-owned business:

There are many ways to measure support. Ultimately, we decided to see where veteran-owned businesses are thriving to determine which states are creating an environment where veterans have all the tools they need to succeed.

We looked at two factors to determine the best states for veteran business owners:

• The percent of all businesses owned by a veteran;
• The percent of state-based sales that go towards veterans;

Our data came from the US Government’s Small Business Administration, and used the most recent numbers available.

New Hampshire is the most supportive state for veteran-owned businesses. In fact, the state is so supportive that veteran-owned businesses occupy 12 percent of all businesses there. But what may be even more impressive is that 6 percent of state-based sales go toward veterans, which is the highest percentage in the U.S.

Maine found its spot on this list at No. 5. From 4 percent of the state sales supporting veterans to 11 percent of all businesses being veteran-owned, it’s easy to see why.