Here are the resources they need…
by Rosalinda Maury and Misty Stutsman
Directors, Research/Analytics and Entrepreneurship
Institute for Veterans and Military Families
Today, women veterans comprise 17 percent of the post-9/11 veteran population and are the fastest-growing sub-population of the veteran community, according to data from the Institute for Veterans and Military Families (IVMF).
These veterans are also increasingly starting and growing businesses, even in the previously male-dominated STEM (science, technology, engineer, mathematics) fields. In fact, women veterans are twice as likely to pursue STEM-related occupations as their civilian counterparts.
IVMF research we’ve collaborated on also shows that high-performing entrepreneurs tend to demonstrate solid decision-making and high levels of confidence, independence and high self-efficacy, even within chaotic environments. Considering their military service background and exposure to multiple, often dangerous environments, veterans are well known to possess these skills.
Still, veteran entrepreneurs encounter challenges. In an IVMF/Syracuse University study, over 83 percent of women veterans surveyed cited obstacles in starting their own businesses, some unique to their status as veterans. That’s why taking advantage of the right resources can help them overcome barriers.
Continue reading at entrepreneur.com...
This Military Appreciation Month the SBA highlights our support for veterans as they enter the world of business ownership.
The following are three ways you can take advantage of SBA resources to start, grow and expand your veteran-owned business:
1. Visit your VBOC – the Office of Veterans Business Development (OVBD) is devoted to promoting veteran entrepreneurship. They oversee Veteran Business Outreach Centers (VBOC) across the country which offer free one-on-one business mentoring and business workshops.
In the course of serving our nation, veterans learn valuable skills and self-discipline that they can carry through to their post-military careers. One professional path that many veterans take is entrepreneurship.
According to the most recent U.S. Census data, in 2012, the number of veteran-owned businesses was 2,521,682 (9 percent of all companies in the U.S.). Those businesses employed over 5 million people. Continue reading
Here are some tools that will make things a little easier.
The Veteran Entrepreneur Portal (VEP) is designed to save you time! BusinessUSA makes it easier for small businesses to access Federal services, regardless of its source. VA OSDBU quickly connects Veteran entrepreneurs to relevant ‘best-practices’ and information. Collectively, VEP offers direct access to the resources necessary to guide every step of entrepreneurship.
Start a Business
This interactive tool connects you to the right resources specific to your small business objective. Navigate through relevant topics to access information on starting a business.
Learn how to start a business »
Use this customized wizard to identify financing resources to support the start-up, development, or growth of your small business.
Learn about financial resources »
Grow Your Business
Find out how to successfully expand your small business. Explore dedicated subjects with valuable information and resources to help you grow your company.
Learn how to grow your business »
Become familiar with Federal government contracting programs. Answer a few quick questions in this wizard to find Federal opportunities that align with your small business.
Find Federal government contracting programs » Continue reading
Small Business Concerns owned and controlled by service-disabled veterans has been established under The Veterans Bene ts Act of 2003 – Public Law 108-183. This act assists federal agencies in meeting the 3% veteran contracting goal.
Federal contracting of cers may now set-aside or award sole- source contracts to Service-Disabled Veteran Owned (SDVO) Small Business Concerns (SBC).
- 51% or more owned by one or more service-disabled veterans.
- Management and daily business operations is controlled by one or more service-disabled veterans or the spouse of such veteran if the veteran is permanently and severely disabled.
- At the time of contract offer, an SDVO SBC is small as defined by the size standard corresponding to the NAICS code (13 CFR 121.201) assigned to the contract.
Small business concerns self-certify. You should obtain a letter from the VA certifying that you are a service-disabled veteran in the event another business protests your award. Continue reading
The federal government and non-government organizations provide all sorts of information to help Veterans start and grow businesses. According to the Department of Veterans Affairs, veterans are 45% more likely than their civilian counterparts to become successful entrepreneurs.
If you want to start a business, but don’t know where to begin, the SBA’s Business Plan Resources is a great place to start. It walks you through how to set up an organizational and management structure, develop marketing and sales plans, and provides information on how to request funding and create financial projections. SBA also offers information specifically tailored to veterans such as growing a business, mentoring and training and selling to the government. Continue reading
From the May 2015, Bainbridge Island Chamber of Commerce newsletter.
The Veteran Owned Business Registry is an official way for veterans to certify their businesses and reap the rewards of being officially recognized as a Veteran Owned Business by the State of Washington. The benefits of registering with the Veterans Owned Business Registry are:
1. Eligibility to do business with the many agencies of the State of Washington http://www.dva.wa.gov/program/veteran-business-resources
2. Eligibility for the Linked Deposit Program… http://www.dva.wa.gov/program/linked-deposit
3. Public recognition of your status as a Veteran Owned Business.
Even if you are not planning to directly do business with the State of Washington, customers like to know they are patronizing Veteran Owned Businesses.
To get registered go to http://www.dva.wa.gov/program/veteran-owned-business-certification
It is free. It is quick. It is easy.
And you as the business owner control the level of contact and communications with State agencies.
If you have any questions, please contact Joshua Amos, Project Manager, WDVA Veteran Owned Business Registry — 1-800-562-0132 option “1”
Every year, over 180,000 dedicated men and women exit our nation’s armed services after their loyal service to our nation. For over 45 years, SCORE has been a leader in providing mentoring and training to entrepreneurs through its network of 13,000 volunteer mentors and trainers. SCORE stands ready to answer the call of helping our veterans to transition into life as entrepreneurs.
The SCORE Foundation, in partnership with major corporations, is pleased to offer the “Veteran Fast Launch” initiative. This program is a combined package of free software and services combined with SCORE’s mentoring program in order to help accelerate the ability of veterans and their families to start and succeed as small business owners.
Learn more at score.org.