With the employers adding more than 1 million jobs to the economy over the last year and gross domestic product topping 3 percent in back-to-back quarters, it’s safe to say conditions have dramatically improved. How long this will last is up for debate, but veterans – in particular – are leading the economy’s charge, a newly released survey suggests.
With Veterans’ Day right around the corner, USA Today partnered with Allstate to examine how current and former members of the military are performing as small-business owners. Out of a scale of 100 – the higher the number, the more confident they are in success – veterans scored a 99 on the Allstate/USA Today Small Business Barometer. Additionally, 7 in 10 veteran small-business owners said their companies were doing well financially, well ahead of the 64 percent of small-business owners who indicated as much overall.
Steven James, a 10-year military veteran who operates an Allstate agency, said the armed services helps members develop characteristics that entrepreneurs need.
“Being in the military challenges you to become your best self,” James explained. “Some of the skills it teaches – respect, organization, discipline and loyalty – are exactly the kind of traits it takes to successfully run your own small business.”
Veterans are 45% more likely to own a business than non-veterans.”
13 percent of finance firms launched by veterans
Based on the most recent figures, veterans seem to enjoy the freedom and independence that owning a business offers. In so doing, military members are major contributors to the U.S. economy, responsible for employing an estimated 5.8 million individuals, according to the Small Business Administration. Approximately 10 percent of business currently in operation were launched by veterans, who are 45 percent more likely to be self-employed than their civilian contemporaries. Veteran presence is heaviest in the finance and insurance sectors accounting for 13.2 percent of firms, the largest of the top 10 helmed by individuals with military backgrounds.
2017 has been a very good year for the economy, evidenced by a booming stock market and a jobless rate that’s fallen from 4.8 percent in January to just 4.2 percent in September, according to the Labor Department. Although the year is nearly over, veterans aren’t finished with their hiring blitz, as a majority intend to continue recruiting, the survey revealed. This compared to 42 percent of small-business owners overall.
Consumers more confident in small businesses’ ongoing success
Americans are largely sanguine that small-business owners will continue to thrive in the coming months. Indeed, in a separate survey performed by Gallup, 70 percent of respondents said they were optimistic about their ability to succeed, more than three times that of big business. Just 21 percent of the poll’s participants said they had a “great deal” of confidence for them.
Small-business owners want one thing above all: growth. At Growth Capital, we’ve put more than $450 million toward this effort for entrepreneurs in the Buckeye State alone since 1982. If you’re a veteran in need of financing, give us a call at 216-592-2332. We can help you achieve your small-business ownership aspirations.
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Understanding COSC Accreditation and Its Importance in Horology
COSC Certification and its Rigorous Criteria
COSC, or the Official Swiss Chronometer Testing Agency, is the authorized Swiss testing agency that verifies the accuracy and precision of wristwatches. COSC accreditation is a sign of superior craftsmanship and reliability in timekeeping. Not all timepiece brands seek COSC validation, such as Hublot, which instead sticks to its proprietary demanding standards with movements like the UNICO, achieving comparable precision.
The Art of Exact Timekeeping
The core system of a mechanized timepiece involves the mainspring, which provides energy as it loosens. This mechanism, however, can be vulnerable to external factors that may impact its precision. COSC-validated movements undergo strict testing—over fifteen days in various conditions (5 positions, three temperatures)—to ensure their resilience and dependability. The tests assess:
Mean daily rate accuracy between -4 and +6 secs.
Mean variation, peak variation rates, and effects of thermal changes.
Why COSC Accreditation Is Important
For timepiece fans and connoisseurs, a COSC-accredited timepiece isn’t just a piece of technology but a proof to enduring excellence and accuracy. It symbolizes a watch that:
Provides exceptional dependability and precision.
Offers confidence of quality across the complete design of the watch.
Is apt to maintain its value more effectively, making it a smart choice.
Well-known Chronometer Manufacturers
Several well-known brands prioritize COSC validation for their timepieces, including Rolex, Omega, Breitling, and Longines, among others. Longines, for instance, offers collections like the Record and Soul, which feature COSC-accredited mechanisms equipped with cutting-edge substances like silicon balance springs to enhance resilience and efficiency.
Historical Context and the Development of Timepieces
The idea of the chronometer dates back to the need for accurate timekeeping for navigation at sea, emphasized by John Harrison’s work in the 18th century. Since the formal establishment of Controle Officiel Suisse des Chronometres in 1973, the accreditation has become a standard for assessing the precision of luxury timepieces, sustaining a tradition of superiority in horology.
Conclusion
Owning a COSC-accredited timepiece is more than an visual selection; it’s a dedication to quality and accuracy. For those valuing precision above all, the COSC certification offers peace of mind, ensuring that each certified watch will function dependably under various conditions. Whether for individual contentment or as an investment, COSC-certified timepieces stand out in the world of horology, carrying on a legacy of precise timekeeping.
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