Nearly 30 million US businesses are small-scale businesses. Out of these, 8 million businesses are diverse and veteran-owned.
These statistics reflect the bright future aspects of veteran-owned businesses!
So heading toward veteran-owned businesses can be a desirable option for veterans. The field offers lucrative opportunities to veterans especially after retiring from the much-regarded services.
Though, it is not as easy as it seems!
A SCORE survey took into account more than 3000 US entrepreneurs. This study showed that they lack 54.9% federal and 76.9% local government support while starting their ventures.
Therefore, it is vital to extend support to the owners starting their veteran businesses. But how to extend this support?
An empowering successful business needs reliable connections. Hence, a veteran-owned business certification too needs financial and technical support at all levels.
Though, there will be a lot of detailing in starting a veteran-owned business. With this piece of information, you can better organize your business plans!
So rope up the right techniques and build your veteran-owned business from the ground!
With the right skills and better guidance, you can take your business on the path to success!
Your veteran status can bring lucrative business contracts to your doorsteps. It is enough to make you stand apart from the crowd.
It can also help you sell to government institutions and agencies at the local, state, and federal levels.
There can be several reasons why all veteran entrepreneurs should apply for certification:
A veteran-owned business certification can help boost your business by bidding on government contracts. Specific government contracts or set-aside contracts are open for bidding only by certified veteran-owned businesses.
The US Department of Veterans Affairs has set-aside government business contracts for both – veteran-owned small businesses (VOSBs) and service-disabled veteran-owned small businesses (SDVOSBs).
Furthermore, certified SDVOSBs also have a 3% share in the set-aside contracts of the federal government.
Over 2/3rd of Americans prefer purchasing goods and services from veteran-owned businesses.
Today, companies prefer purchasing their materials from certified veteran-owned businesses.
Hence, you can also grow your business by leaps and bounds in the private sector.
What are the Different Types of Veteran-Owned Business Certifications?
Thousands of businesses like you also gravitate towards leading an entrepreneurial future. So to put you on the top line, there are certain types of veteran-owned business certifications.
Veteran-Owned Small Business (VOSB)
You can get this holy-grail of certification from:
Service-Disabled Veteran-Owned Small Business (SDVOSB):
Issued by the US Small Business Administration, SDVOSB will make your business receive millions of contracts.
National Veteran Business Development Council (NVBDC) Certificate:
It is a non-profit organization composed of veterans. The NVBDC is:
National Veteran-Owned Business Association (NAVOBA) Certificate:
The National Veteran-Owned Business Association provides these certificates for up to two years.
To be eligible for veteran-owned business certification, you should fall under certain eligibility criteria
Choose a business certification that aligns best with your business goals. As per the needs of your business, you can also apply for multiple veteran-owned business certifications.
Complete your certification after meeting the eligibility criteria. Here are the documents that you will require:
You may need to provide additional information for the issuance of the certificate. After the approval of your application, you can get a veteran-owned business certificate.
Though, you should remember that this certificate is valid for only a limited period.
For example: For VOSB or SDVOSB certifications, renew your certificates after every 3 years.
After getting your veteran-owned small business certification in your hands, it’s time to use it to your advantage.
Market your products under the name of a certified veteran-owned business. You can also join hands with several veteran-owned business directories. This would ultimately give you an added benefit.
However, if your business goal is to manage government contracts, you first need to get registered.
Start by registering your newly certified business with the contracts awards management system of the government organization of your choice.
For example, you’ll need to register with the System for Award Management (SAM) to supply for the federal government.
With so many minds looking to start their veteran-owned business, the time is now to become a veteran certified.
For that all you need is better financial assistance, right knowledge and strong government connections!
The certification process is simpler and will give you the right path to grow your business by getting certified.
58Joralemon brings modern technology to your fingertips. The product is designed for all size businesses. It’s easy to use and offers inclusive solutions for your businesses. You can easily submit your information and required documents. Soon after that we will start processing your application.
So get your directions right. No matter what your business needs are, we help you grow. Use all the resources to your advantage and take your veteran business to heights!