BY: SBA Mid-Atlantic Regional Administrator John Fleming
Each year, the U.S. Small Business Administration celebrates National Veterans Small Business Week in November. In our part to support the brave men and women who’ve served our country in uniform and are now major contributors to the nation’s economy, the SBA and our partner organizations empower veterans and their family members by equipping them with business counseling, training, access to capital, and contracting opportunities.
Veterans are integral to the growth of America’s small businesses Veteran-owned businesses in the United States employ more than five million workers and generate $1.1 trillion in receipts. Numbers like these reflect an economic power in veterans that cannot be ignored.
The road to business ownership can be challenging, especially for vets who often lack the resources and institutional knowledge necessary to start, run, and scale a thriving business. At SBA, we help ease that burden so that military entrepreneurs can thrive without facing inordinate barriers to success. SBA’s efforts are critical to the successful transition process for service members exiting the military and considering entrepreneurship as their next move. To learn more about other SBA veterans programs and resources, visit www.sba.gov/vets.
The SBA is ready, willing, and able to be part of your team. Vetrepreneurs are encouraged to explore what local assistance is available, such as Veterans Business Outreach Centers that provide services tailored to military entrepreneurs and their families. We also offer several programs to help veterans secure capital, such as SBA Lender Match, 7(a) reduced fees, and the Military Reservist Economic Injury Disaster Loan (MREIDL).
During NVSBW, veterans should also look into our Veteran Small Business Certification (VetCert) and SDVOSB certifications, which are vital for securing lucrative federal contracts and many other benefits. The establishment of the VetCert Program has been extremely beneficial to tens of thousands of veterans across the U.S. who have received their certifications with a significantly reduced processing time.
Visit www.sba.gov/vetbiz or contact your local SBA district office to learn more and follow us on Twitter at @SBAgov where you can share your Vetrepreneur journeys with the #VetBiz and #MyVetBiz hashtags.
To learn more about the U.S. Small Business Administration’s Office of Veterans Business Development (OVBD) and its offerings, visit sba.gov/ovbd.
