New York University has opened applications for a free, six-session online entrepreneurship course aimed at veterans and military spouses as evidence mounts that veteran business ownership in the United States is shrinking.
Course details and access
The programme, run by NYU Tandon School of Engineering, is called VET-1. It starts on 8 September, runs in the evenings, requires no prior business experience and is free to participants. Applications close on 25 August. The course is pitched as an introductory offering with follow-up advanced options available for participants who wish to continue.
Why the course matters
Veterans remain a significant part of the US small-business landscape but their representation is diminishing. According to the reporting, roughly 1.6 million veteran-owned businesses were recorded in 2023, generating about US$1 trillion in receipts. Of those firms, around 261,000 had paid employees — about 4.4% of all US employer firms — while roughly 1.4 million operated without paid staff.
The longer-term trend is downward: an Office of Advocacy analysis for the US Small Business Administration found veteran ownership fell from 11% of US businesses in 2014 to 8.1% by 2020. That shift has been driven in part by an ageing cohort of veteran entrepreneurs and insufficient replacement by younger veterans.
- 1.6 million veteran-owned businesses in 2023
- US$1 trillion in combined receipts
- 261,000 veteran businesses with paid employees (4.4% of employer firms)
- 1.4 million veteran businesses without paid employees
- Share of veteran-owned businesses fell from 11% (2014) to 8.1% (2020)
Implications for jobs and the economy
From a South African-business-desk perspective, the figures underline two linked concerns relevant to any economy: the pipeline for business ownership and the sustainability of firms that create paid jobs. Veteran-owned companies account for a sizeable share of entrepreneurial activity and receipts in the US; when ownership skews older and fewer younger entrepreneurs replace exiting owners, the aggregate effect can be fewer firms employing staff and fewer local jobs created.
For policy-makers and support organisations the VET-1 initiative illustrates a typical response: subsidised, low-barrier training targeted at a specific demographic to revive entrepreneurship. The course’s evening schedule and no-cost entry lower participation friction for people balancing family or work commitments — features that matter when trying to convert early-stage ideas into viable businesses.
| Metric | Figure (US) |
|---|---|
| Veteran-owned businesses (2023) | 1.6 million |
| Receipts | US$1 trillion |
| With paid employees | 261,000 (4.4% of employer firms) |
| Without paid employees | 1.4 million |
South African readers should note that while the programme is US-based, the underlying challenges — ageing owner cohorts, low replacement rates among younger potential entrepreneurs, and the need for low-cost, practical training — are common to many markets. Programmes that reduce barriers to entry can help sustain the number of small businesses that provide employment and income in communities.
Finally, for prospective applicants the immediate takeaway is practical: applications for VET-1 must be submitted by 25 August, and the course begins 8 September. The six-session format and follow-up pathways mean participants can begin with fundamentals and, if they wish, progress to more advanced business development support.
WE NEWS does not provide financial advice. This report summarises the NYU programme and published statistics to explain the policy and economic context for entrepreneurship among veterans.
