Veteran-Owned Businesses: The Rise of a Strong and Supportive Community

Veteran-owned businesses make up a significant portion of the small business community, with over 2.5 million veteran-owned businesses in the United States. These businesses are not only contributing to the economy but also providing employment opportunities for fellow veterans. According to the Small Business Administration, veteran-owned businesses employ over 5 million people and generate over $1 trillion in annual revenue.

One organization that is playing a significant role in supporting veteran-owned businesses is the Veterans Business Outreach Center (VBOC). The VBOC provides free business training, counseling, and resources to help veteran entrepreneurs start and grow their businesses. They also offer assistance with accessing capital and procurement opportunities.

Another initiative that is helping veteran-owned businesses succeed is the Veteran Entrepreneur Portal (VEP). The VEP is an online resource that provides information on a wide range of topics, including starting a business, financing, and marketing. It also features a directory of veteran-owned businesses, making it easy for consumers to support these businesses.

In addition to these resources, there are also various government programs that provide support to veteran-owned businesses. For example, the Service-Disabled Veteran-Owned Small Business Concern Program helps businesses owned by service-disabled veterans compete for federal contracts. The program also provides access to training and support to help these businesses grow and succeed.

The support for veteran-owned businesses is not just limited to organizations and government programs. Consumers also play a crucial role in helping these businesses succeed. By choosing to shop at veteran-owned businesses, consumers can help support their fellow veterans and contribute to the growth and development of their local communities.

The journey of a veteran entrepreneur can be challenging, but with the right support and resources, they can build successful businesses and make a significant impact on their communities. Veteran entrepreneurs bring unique skills and experiences to the business world, making them a valuable asset to the economy.

One of the biggest challenges that veteran entrepreneurs face is access to capital. According to a report by the Small Business Administration, veteran-owned businesses are less likely to receive loans than non-veteran-owned businesses. This is where organizations like StreetShares come in. StreetShares is a social lending platform that provides loans to veteran-owned businesses. They offer a range of loan options, including term loans, lines of credit, and invoice financing.

Another organization that is supporting veteran entrepreneurs is Bunker Labs. Bunker Labs is a nonprofit organization that provides education, resources, and mentorship to veteran entrepreneurs. They offer a range of programs, including the Entrepreneurial Program, which helps veterans start and grow their businesses, and the CEOCircle Program, which provides mentorship and support to veteran business owners.

The rise of veteran-owned businesses is not only a reflection of the entrepreneurial spirit of veterans but also the impact of organizations and initiatives that provide support and resources to these entrepreneurs. As these businesses continue to grow, they are contributing to the overall strength and diversity of the American economy.

In conclusion, the growing community of veteran-owned businesses is a testament to the entrepreneurial spirit and resilience of our veterans. With the support of organizations, initiatives, and consumers, veteran entrepreneurs are overcoming challenges and building successful businesses. By supporting veteran-owned businesses, we not only contribute to the economy but also honor the service and sacrifice of our veterans.

Why Investing in Veteran-Owned Businesses Is Good Business During National Invest In Veterans Week

As we celebrate National Invest in Veterans Week, it's important to recognize the valuable contributions of veteran-owned businesses to our economy. According to the Small Business Administration, there are over 2.5 million veteran-owned businesses in the United States, accounting for 9.1% of all businesses. These businesses generate over $1 trillion in sales annually, creating jobs and driving economic growth.

Investing in veteran-owned businesses not only supports our veterans but also provides investors with significant advantages. For example, studies have shown that veteran-owned businesses tend to have higher survival rates than non-veteran-owned businesses. This is likely due to the skills and experience veterans gain during their service, including leadership, teamwork, and problem-solving.

Another benefit of investing in veteran-owned businesses is the potential for innovation. Veterans are known for their creativity and resourcefulness, qualities that can translate into successful entrepreneurship. Many veterans also have experience in fields such as technology and engineering, making them well-suited to start businesses in these areas.

Investing in veteran-owned businesses can also provide social returns. By supporting veteran entrepreneurs, investors are contributing to the economic and social well-being of our nation's heroes. Additionally, many veteran-owned businesses are committed to giving back to their communities, creating jobs and supporting local organizations.

Finally, investing in veteran-owned businesses is a way to honor and thank our veterans for their service. Veterans have made sacrifices to protect our country and our freedoms, and supporting their businesses is one way to show our appreciation.

So, how can investors get involved in supporting veteran-owned businesses? One option is to invest directly in these businesses through crowdfunding platforms or angel investing networks. Another option is to invest in funds that specifically target veteran-owned businesses.

For example, the Veteran and Military Technology Fund (VMFT) is a venture capital firm that invests in early-stage technology companies founded and led by veterans. The firm focuses on industries such as cybersecurity, artificial intelligence, and virtual reality, all of which are areas where veterans have particular expertise.

Investors can also look for opportunities to support veteran-owned businesses in their own communities. This may involve attending local networking events or seeking out businesses owned by veterans when making purchasing decisions.

In conclusion, investing in veteran-owned businesses is good business during National Invest in Veterans Week and beyond. These businesses contribute to the economic growth of our nation while also providing investors with advantages such as higher survival rates and potential for innovation. Additionally, supporting veteran-owned businesses is a way to give back to those who have served our country and protect our freedoms.

Bonus tip: In addition to financial returns, investing in veteran-owned businesses can also provide personal fulfillment for investors who want to make a positive impact in their communities. By supporting veteran entrepreneurs, investors can contribute to a more diverse and inclusive business landscape, while also helping to create opportunities for those who have served our country. This sense of purpose and social responsibility can be a powerful motivator for investors who want to align their values with their investments.

Read More: https://www.investinveteransweek.com/veteran-entrepreneurship-insights-opportunities

Veteran Entrepreneurship: The Key to Boosting the Economy and Supporting Our Heroes. Here's How Legislators Can Take Action

Capt. Sherman Williams, who served during Operation Iraqi Freedom in the early 2000s founder of Body Aqua.

As a society, we bear responsibility for the men and women who have served our country. When these courageous individuals transition to civilian life, it is imperative that we do everything we can to support them in their endeavors. One way we can do this is by supporting veteran entrepreneurs. Veteran entrepreneurs are an integral part of the economy, contributing to job creation and economic growth. However, they often face extraordinary challenges when starting and growing their businesses, such as navigating the civilian business ecosystem and adapting to new business trends and technological advancements. By providing resources and support to veteran entrepreneurs, legislators can help these heroes succeed and contribute to the overall prosperity of their communities. 

There are numerous reasons why legislators should support veteran entrepreneurs. Here are a few to consider before diving into the local economic benefits of supporting veteran entrepreneurs.

Veteran entrepreneurs contribute to economic growth: Veteran entrepreneurs are a vital part of the economy and contribute to job creation and economic growth. By supporting veteran entrepreneurs, legislators can help to stimulate local economies and promote a prosperous economy.

Veteran entrepreneurs face unique challenges: Transitioning from military to civilian life can be challenging, and veteran entrepreneurs often face distinctive challenges when starting and growing their businesses. Legislators can help to level the playing field by providing resources and support for these entrepreneurs.

Supporting veteran entrepreneurs is good for society: In addition to the economic benefits, supporting veteran entrepreneurs is also good for society as a whole. Veteran entrepreneurs often bring valuable skills and experiences to their businesses, and their success can have a positive impact on their communities.

It is the right thing to do: Finally, supporting veteran entrepreneurs is simply the right thing to do. These individuals have served our country and deserve our support as they transition to civilian life and pursue their entrepreneurial goals.

By supporting veteran entrepreneurs, legislators can help these heroes succeed and contribute to the overall well-being of their communities and the country. In addition to the economic benefits, supporting veteran entrepreneurs is also a benefit for society as a whole. 

Below, we will explore the many reasons why legislators should support veteran entrepreneurs along with the specific ways that they can take action to help these heroes thrive in the civilian economy.

---

There are many ways that legislators can support veteran entrepreneurs in their transition from military to civilian life. Here are a few examples:

Provide funding for veteran-owned businesses: Legislators can allocate funds specifically for veteran entrepreneurs to start or grow their businesses. This can be in the form of grants, loans, or other types of financial assistance.

Create tax incentives for veteran entrepreneurs: Legislators can also create tax incentives for veteran entrepreneurs, such as tax breaks or credits for starting or growing a business.

Offer resources and training: Legislators can work with organizations that provide resources and training for veteran entrepreneurs, such as mentorship programs, business planning workshops, and networking events.

Promote veteran-owned businesses: Legislators can also help promote veteran-owned businesses by highlighting their success stories and encouraging the public to support them.

Create policies that support veteran entrepreneurs: Legislators can also create policies that make it easier for veteran entrepreneurs to start and grow their businesses, such as streamlined licensing processes or reduced fees.

Partnering with veteran-focused organizations: Legislators could consider partnering with veteran-focused organizations, such as veteran service organizations or military-focused incubators, to support veteran entrepreneurs. These organizations often have valuable resources and expertise that could be leveraged to help veteran entrepreneurs succeed.

Offering targeted technical assistance: Legislators could consider offering targeted technical assistance to veteran entrepreneurs in specific industries or sectors. For example, a legislator might work with a local university or business development center to provide specialized training or mentorship for veteran entrepreneurs in the tech industry.

Providing support for veteran entrepreneurs who are also farmers: Many veteran entrepreneurs are interested in starting or growing farms or agricultural businesses. Legislators could consider providing resources and support specifically for these entrepreneurs, such as funding for equipment or training in sustainable farming practices.

Supporting veteran entrepreneurs who are also minority-owned businesses: Legislators could also consider supporting veteran entrepreneurs who are also minority-owned businesses, as these entrepreneurs may face additional challenges in starting and growing their businesses.

Encouraging federal contracting opportunities for veteran-owned businesses: Finally, legislators could work to increase federal contracting opportunities for veteran-owned businesses. This could include lobbying for changes to federal procurement policies or working with federal agencies to increase their outreach to veteran entrepreneurs.

In conclusion, veteran entrepreneurs deserve our support and appreciation. These heroes have served our country and now bring valuable skills and experiences to the civilian economy. By supporting veteran entrepreneurs, legislators can help these individuals succeed and contribute to the overall prosperity of their communities.

Essentially, there are many ways that legislators can support veteran entrepreneurs, including providing funding, creating tax incentives, offering resources and training, promoting veteran-owned businesses, and creating policies that make it easier for these entrepreneurs to start and grow their businesses. By taking action in these areas, legislators can make a real difference in the lives of veteran entrepreneurs and help them thrive in the civilian economy.

We encourage legislators to consider the many benefits of supporting veteran entrepreneurship and to take action to support these heroes as they transition from military to civilian life. Together, we can create a brighter future for veteran entrepreneurs and their communities.

HOW TO OBSERVE #NationalInvestInVeteransWeek