BOOK OVERVIEW

The transition from war to peace and the necessity to reduce the nation’s defense budget has resulted the downsizing of thousands of service members. However, ongoing national security threats, and a change in US national leadership, may reverse these defense budget reductions. On July 2015, the Army officially announced its plans to cut 40,000 soldiers from its ranks over the next two years. In addition to this transition to peace time, the Pentagon’s budget challenge is a result of the Budget Control Act of 2014. This legislation includes a plan to trim $487 billion over 10 years. It is predicted that by 2016 more than one million service members will be discharged or retire from the military.

Many of these vets will seek new careers or to start businesses. Unlike previous military downsizings in Vietnam, and in the 1990s, the 2015 labor market is among the worst in this country’s history. The budget cuts negatively impact defense contractors and federal employment. These two sectors employ a large number of military personnel. Therefore, the entrepreneurship option for transitioning service member is a necessary option, and many of these will be involuntary entrepreneurs.