MSP 501 US Veteran-Owned Firms: They Continue to Serve

Today we celebrate the 24 U.S. veteran-owned businesses that earned placement on the Channel Futures 2023 MSP 501 ranking of the world’s top managed service providers.

About 5.6% of employer-owned businesses in the United States were owned by veterans in 2020, according to the U.S. Census Bureau’s 2021 Annual Business Survey (ABS), compared to the 5% of veteran-owned businesses on the MSP 501 list. The largest segment of veteran-owned businesses in the U.S. falls under the “technical, scientific and professional” segment, which includes 58,192 companies, according to the ABS. The second is construction at 47,076 companies. Overall, veteran-owned businesses in the U.S. generated about $927 billion in sales in 2020, employed 3.6 million people and had $176.6 billion in annual payroll.

Revenue per employee among the veteran-owned MSP 501ers averaged about $220,000. All MSP 501ers combined reported $246,000.

Like most veteran-owned businesses, these MSPs drive job creation among fellow veterans, decrease unemployment and fuel local and national economic growth. Equity is an important factor for supporting these businesses. The sacrifices veterans have made and the risks they’ve taken ensure our liberties and freedoms. Supporting these businesses helps to ensure veterans can succeed and thrive after their military service. Veteran-owned MSP 501ers employed an average of 43 full-time people. In other key statistics, these MSPs reported an average of 41% revenue growth in 2022, the year the survey covered, 23% in recurring revenue growth, and average EBITDA of about 60%.

Whatever classification of managed services provider you run, make sure to apply for the MSP 501 ranking when the applications become available early next year. As part of the application process and analysis, we ask channel partners of all business types to provide detailed information on their technology solutions and customer engagements. This data gives our research team the ability to develop benchmarks in a wide range of areas such as cloud, cybersecurity, growth rates and profitability, among others.

See the slideshow above to see which of the 24 MSP 501 honorees are veteran owned.