Summary:
Lynn Lowder, a retired Marine, is revitalizing veteran entrepreneurship in Chicago.
The Veteran Business Project connects veterans with business owners looking to sell.
Aims to expand to all 50 wards in Chicago, addressing the decline in veteran business ownership.
Provides one-on-one coaching and support services for veterans.
Lowder's mission is deeply personal, stemming from his transition from military to business life.
Connecting Veterans with Business Opportunities
A retired Marine Corps major, Lynn Lowder, is on a mission to revitalize veteran entrepreneurship in Chicago. After successfully helping two Navy veterans acquire the Fred A. Busse, a historic fireboat, he co-founded the Veteran Business Project. This initiative aims to match veteran entrepreneurs with existing business owners looking to sell their establishments.
The City is honoring veterans through a commemoration ceremony at Soldier Field. Credit: Provided
Aims and Objectives
The project is expanding to all 50 wards in Chicago, starting with pilot programs in the 6th and 36th wards. It addresses the decline in veteran entrepreneurship, which has dropped significantly since World War II, when nearly half of veterans owned businesses. According to a Syracuse University report, this program provides veterans with opportunities to own businesses in their communities.
Support and Services
Lowder emphasized the one-on-one coaching and services that will be provided to veterans throughout the process. According to Alderman Gilbert Villegas, veterans possess discipline, leadership, and resilience, making them ideal candidates for entrepreneurship. In the 6th Ward, Alderman William Hall has already seen success with veteran support programs, helping veterans access benefits more effectively than any other ward in the city.
A Personal Mission
For Lowder, this initiative is deeply personal, stemming from his own transition from military service to owning a restaurant after Vietnam. He believes that meaningful work is essential for veterans readjusting to civilian life, stating, "I think meaningful work is the fountain of youth."
Future Plans
As the project develops, both Aldermen are identifying veteran candidates and potential business opportunities. They hope to use this ward-based approach as a model for other cities facing similar challenges.
To learn more about the Veteran Business Project, visit their website.
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