Washington DC JOINS List of Best Cities for Veteran Entrepreneurs in 2025: Study
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The nation’s capital reportedly led the pack this year among American cities where businesses are likely to thrive the most.
Washington, DC, was ranked as the top US city for veterans to start a business in 2025, followed by Raleigh, North Carolina; Tampa, Florida; Austin, Texas; and dallas, texas, according to a new study from the penfed military veterans foundation, military benefits across the country are focused on helping veterans transition from learning to military life.
“Our nation’s veterans bring leadership, discipline, and unwavering commitment to every challenge they take on,” Andrea Mccarren, President of the Penfed Veterans Foundation, said in a statement. “Those same qualities make them exceptional entrepreneurs. This research shines a light on cities that create real opportunities for veterans to thrive as business owners.”
Cheyenne, Wyoming, was ranked as America’s smallest city for Veterans, according to the survey.
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Photo Photo: A soldier and a businessman are depicted with shaking hands. The US is home to 2.5 million veteran businesses, which generate more than $1 trillion in annual revenue and employ six million people. (Stock / istock)
The 10 biggest cities for veteran entrepreneurs
- Washington-Arlington-Alexandria, DC-VA-MD-WV
- Raleigh-Cary, North Carolina
- Tampa-st. PeterSburg-Clearwater, Florida
- Austin-Round Rock-San Marcos, Texas
- Dallas-Fort Fastic-Arlington, Texas
- Seattle-Tacoma-BeleVue, Washington
- San Antonio-New Braunsfels, Texas
- Milwaukee-waukesha, wisconsin
- Cleveland, Ohio
- Denver-aurora-centennial, colorado
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Aerial view of Washington, DC, Skyline. Washington, DC, was ranked as the top US city for Veterans to start a business in 2025, according to a new study from the penfed foundation for military veterans. (Stock / istock)
10 small towns for veteran entrepreneurs
- Cheyenne, Wyoming
- Durham-Chapel Hill, North Carolina
- Sioux Falls, South Dakota-Minnesota
- Fast City, South Dakota
- Columbia, Missouri
- Grand Island, Nebraska
- Colorado Springs, Colorado
- Omaha, Nebraska-Iowa
- Fargo, North Dakota-Minnesota
- Fayetteville, North Carolina
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View of Cheyenne, Wyoming, at night. Cheyenne was ranked as the top small city for Veteran entrepreneurs in 2025. (Stock / istock)
The US is home to 2.5 veteran-owned businesses, which generate more than $1 trillion in annual revenue and employ six million people, employers said.
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The rankings were compiled using data from more than 30 government and non-profit sources, and a total of 53 indicators were analyzed across 387 metropolitan areas, according to the penfed foundation for military veterans.
