MOAA recently joined a Twitter chat hosted by the U.S. Small Business Administration (SBA) about how veteran entrepreneurs can start and grow a business. Here are five tips and resources to help veterans succeed in business:

1. What qualities make veterans good business owners? Approximately 2.5 million veteran-owned businesses in America represent 9.1 percent of all U.S. businesses. A cognitive framework and worldly experience obtained through military service create successful business owners who are innovative, adaptable, and decisive.

2. How can you test a business idea? Do your homework. Conduct the proper market research. Share your business idea with family, friends, colleagues, and mentors. Identify all the reasons why the business won't work, and then seek solutions to the challenges.

3. What are some considerations when choosing the right business structure? Take advantage of the resources offered by the SBA's Veterans Business Outreach Center and Service Corps of Retired Executives programs.

4. What are some tips to help veterans prepare when seeking to access capital? Contact the VA and SBA. They have several assistance programs available to help you navigate your options and select what is right for you.

5. What are some tips to master the art of networking? Expand your network. Attend outreach events, seminars, and symposiums to make valuable connections. The MOAA Military and Veteran Career Networking Forum, Thursday, Sept. 20 from 7:15-10 p.m. at the Smithsonian National Air and Space Museum in Washington, D.C., has a hall dedicated to entrepreneurship. Learn more and register today at www.moaa.org/networkingforum.