Veterans and Small Business

America’s SBDC network has been serving the Veteran small business community for years. SBDCs around the country offer specialized training and programs to help our nation’s heroes start and grow their own businesses.  America’s SBDC network also supports SBA’s Boots to Business program in 36 states and has helped nearly 2,000 Veteran entrepreneurs realize their dream of business ownership.

Boots to Business is an entrepreneurial education and training program offered by the U.S. Small Business Administration (SBA) as part of the Department of Defense Transition Assistance Program (TAP). The curriculum continuum includes steps for evaluating business concepts, the foundational knowledge required to develop a business plan, and information on SBA resources available to help access start-up capital and additional technical assistance. The program is available free at participating installations to service members and their dependents transitioning or retiring from the U.S. military.  (more…)

By Pasqualina DeLucia

The week of November 3-7, 2014 marks National Veterans Small Business Week, honoring veteran business owners. According to the Small Business Administration, “Veteran business owners are responsible for nearly one out of every ten small businesses in America, employ nearly six million workers, generate over 1.5 trillion dollars in receipts each year and are 45 percent more likely to be self-employed than non-veterans.” So what exactly makes veterans so well suited for entrepreneurship?

 1. Work Ethic

Entrepreneurs work long, hard hours…especially in the start-up phase. Veterans already possess the mental and physical fortitude as well as the discipline to survive the long days and, equally as important, their families have that same ability. It’s important to have the buy-in and understanding of those around you given that entrepreneurial endeavors require sacrifice. Military families know the level of commitment and support needed better than most.  

2. Risk Tolerance

Starting and maintaining your own business is undeniably risky. There are ways to help mitigate the risks but not completely remove them. Veterans already have the skillset to both mitigate and face risk head-on. Both in military life and in entrepreneur life, the ability to create and execute a thought-out operating strategy is essential (as well as the ability to read the current situation and adjust accordingly…see “agility” below). When it comes to risk assessment, gathering intel and then moving to action, veterans have been conditioned at a high level. (more…)

By Cindy Bates

I’ve always thought of small-business owners as heroes. They’re the women and men who battle for success despite obstacles, fears, physical challenges and mental exhaustion as they work towards success. As we approach Veterans Day and the end of National Veterans Small Business Week (NVSBW), I want to recognize the unique heroism of America’s veterans who own small businesses.

Veteran-owned businesses contribute more than $1.5 trillion to the U.S. economy every year and employ nearly 6 million, according to the Small Business Administration (SBA). During their military service, veteran owners learn to be dynamic leaders and tremendous problem-solvers. Those core skills may account for the fact that veterans are 45 percent more likely to be self-employed than others. Did you know one in 10 small businesses is veteran-owned? Even the hit TV show “Shark Tank” – which I happen to be a big fan of – is supporting NVSBW by dedicating an episode (Friday, 11/7) exclusively to veteran-owned businesses.  (more…)