Samuel Adams founder Jim Koch knows a few things about what it takes to become a successful businessman, and that's exactly why he's giving back to American military veteran entrepreneurs.
Through the company's Brewing the American Dream philanthropy program, veteran-owned small businesses in the food and beverage industries will be provided with aid via a partnership with the StreetShares Foundation, a nonprofit whose mission is to provide "inspirational success stories, educational content, or awards that provide a boost of financial support" for veterans to grow their business.
The partnership offers veteran small business owners -- who held a majority stake in more than 2.5 million businesses in the U.S. in 2012 (https://smallbiztrends.com/2017/04/veteran-owned-business-statistics.html) -- education and capital, including $100,000 toward grants, free educational events, mentoring and resources, as well as the popular "Speed Coaching" events where vets will receive one-on-one help from business experts.
"Veterans are some of the best entrepreneurs," Koch, who prefers to use the term "vetrepreneurs," told FOX Business. "I think the statistics ... [show] that they are more entrepreneurial than regular civilians. And when they start a business they tend to outearn and be more successful than regular civilian entrepreneurs."
In another nod to helping veterans, 50 cents of every 12-pack of Sam Adams Boston Lager sold will be donated to the StreetShares Foundation to fund business grants and mentoring for veteran-owned businesses at participating locations until July 5. Businesses can receive up to $150,000.
Drinkers can also text to donate to StreetShares and the brewery will match the donation dollar for dollar, up to $20,000.