Veteran Business Series: 6 Benefits & Resources to Start a Business
If you're a veteran and looking to start a business, there are several benefits and resources available to you that can help you get started. Here are 6 benefits and resources that you as a veteran can take to use to start (and grow) a business:
Research and apply for small business loans: The Small Business Administration (SBA) offers several loan programs designed specifically for veterans. These loans can provide you with the capital you need to start or grow your business.
Seek out veteran-owned business certifications: Many corporations and government agencies offer preferences or set-asides for veteran-owned businesses. If going through the process with the government to get your business certified as a service disabled veteran owned small business or veteran owned small business gives you hives, work with a Certified Veterans Business Coach to get your business certified by the federal government.
Take advantage of business training and counseling services: The SBA's Office of Veterans Business Development (OVBD) offers a range of training and counseling services specifically tailored to veterans. These services can help you develop a business plan, understand financial management, and prepare for government contracting opportunities.
Explore government contracting opportunities: The federal government has set a goal of awarding at least 3% of its contracting dollars to service-disabled veteran-owned small businesses each year. The SBA's Office of Government Contracting and Business Development (GCBD) can help you identify contracting opportunities and provide guidance on how to bid on government contracts.
Consider using your GI Bill benefits: If you're still serving or have recently separated from the military, you may be eligible to use your GI Bill benefits to pay for training and education related to starting or expanding a business. The VA's Vocational Rehabilitation and Employment (VR&E) program can also provide support for entrepreneurship training.
Work with a Certified Veterans Business Coach: Unlike traditional business advisors, Certified Veterans Business Coaches are not just experts in business and working with entrepreneurs and business owners, they also know how to maximize and leverage your benefits and opportunities as a veteran to propel your business.
Remember, starting a business requires a lot of hard work, determination, and planning. By taking advantage of these resources and benefits, you can increase your chances of success as a veteran entrepreneur.
