National non-profit focused on business transitions to military veterans makes waves in the entrepreneurial world.
Bunker Labs, a well known non-profit in the United States, was founded on one truly worthy objective – to create a network for veteran entrepreneurs. Often times, when military veterans complete their service, they do so with a valuable skill set, but no means to utilize it. Starting a business is one option, but the path to entrepreneurship for veterans can be a challenging one, as it is for anyone.
Bunker Labs have worked since 2014 to soften that blow, establishing a bank of resources, networking options, and tools for veterans to kick-start their entrepreneurial lives. This non-profit has found success in over 1000 startups, and even greater success in making new business connections. This is where Bunker Labs stands out. Starting a business presents a much greater challenge than purchasing an already existing one, and business connections can really help a new entrepreneur on his or her way.
The California Association of Business Brokers identified in a study that over the next 20 years, business owners looking to retire will sell or bequeath $10 trillion worth of assets. With more than 70 percent of those businesses likely to change hands, there is significant potential to connect some of these sellers with military veterans.
In September of this year, Bunker Labs announced a partnership with the SuccessionMatching ‘Be Your Own Boss’ program. This program is specifically focused on guiding military veterans to purchase established businesses. The biggest barriers when buying a business tend to be in finding the right business to buy and the financing in which to do so. The BYOB program is set up to address these issues head-on, removing the major obstacles to promote a healthy economic turnover.
“After serving in our military, veterans have an opportunity to pick where they would like to live, we can help them find a community by matching them to a business that they can purchase,” said Alison Anderson, Founder and CEO of SuccessionMatching.com.
Anderson has been making successful business matches with her SuccessionMatching team since February of 2012. She has long seen the need to make connections with underrepresented and minority demographics. The program itself extends to young entrepreneurs leaving post-secondary. Making connections from these less obvious groups enables a larger pool of buyers to draw from and promotes positive economic health. Reaching out to veterans taps into a potentially underutilized skill bank.
“We want to see them thrive, and many of them have a strong skill set that can be made valuable to an entrepreneurial lifestyle. With so many business owners looking to retire or transition, it only makes sense that we bridge the gap and connect them with veterans ready for business ownership. That is why we are so excited about this partnership with Bunker Labs it is perfect in helping us make valuable, life-changing connections.”
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