Supporting veteran-owned businesses is a great way to give back to the people who have given so much to this country. Veterans can face challenges when transitioning to civilian life. A veteran who has spent years in the service has not had time to build up the network and connections that many people use to find jobs and start businesses. They may not have had the time and opportunities to build a good credit rating. There, of course, may be direct and indirect consequences to military service that veterans have to manage to be successful in civilian life.
That being said, the impact of veteran-owned businesses on the economy is nothing short of impressive. According to VeteranOwnedBusiness.com, in 2016, veteran-owned firms conducted sales amounting to over one trillion dollars — with an annual payroll of 210 million dollars and over five million employees.
Why are veteran-owned businesses so successful? Probably because veterans learn many important skills in the military that transfer to business management, including:
Learning how the chain of command works and how to be an effective leader is an important part of military service. People in the military must learn to trust and rely on their leaders to survive, and those leaders in turn must learn to lead wisely and responsibly to ensure safety and trust. These leadership skills are invaluable in a business environment, where staff looks to the business owner for advice, inspiration, and direction.
The military is based on a tradition of integrity, and that is something people respect when it comes to business. Consumers want a business they can trust and that will stand by their convictions, promises, and stated goals. They know veteran-owned businesses are likely to hold up to that standard.
Military personnel quickly learn to take responsibility for their actions, which is another quality consumers want and respect from the businesses they patronize. Taking accountability for actions and following through on commitments are values that can be transmitted throughout businesses owned by veterans, and that makes doing business with them clear, direct, and reliable.
Pennsylvania Veteran-Owned Businesses
In Pennsylvania, veteran-owned business is a proud tradition. You can find veteran-owned small businesses (VOSB) in PA in construction, technical fields, insurance, and more. Gaver Industries, Inc. is a service-disabled veteran-owned small business that received the honor of SBA Eastern PA 2016 Veteran-Owned Small Business of the Year for its success with Barker and Barker Paving, which has grown an average of 20 percent per year for the last five years.
Other successful VOSBs in PA include manufacturing companies like CCT Manufacturing, John Evans’ Sons, and Sunset Metal Works, Inc.
Advanced Conversion Technology, Veteran-Owned, Small Business Power Supply Company
Advanced Conversion Technology is a proud veteran-owned small business in Pennsylvania and has been for over 35 years. We design and manufacture military AC-DC and DC-DC power supplies in our vertically integrated 63,000 square foot facility in Middletown, PA.
We service the military-grade power needs for electronics and vehicles in sea, land, and air-based environments. These are rugged, durable products known for their high reliability and ability to function in harsh environments. To learn more about ACT, our products, our proud military tradition, and how we can put our services to work for you, contact us online today.