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All you need to know about getting certified as a veteran-owned business

Did you know? 

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! 

Why Should You Certify Your Veteran-Owned Business? 

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.  

certified diverse business

There can be several reasons why all veteran entrepreneurs should apply for certification:  

  • Bid on Government Contracts 

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. 

Also read: Here is Why You Should Certify Diverse-Owned Business

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.  

  • Improve Private-Sector Business 

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?  

Every year 200,000 US servicemen bid goodbye to their service and choose to lead a civilian life. Though, 10% of them choose to start their own small business 

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. 

Here is all you need to know about them: 

Veteran-Owned Small Business (VOSB) 

You can get this holy-grail of certification from:

  • The Department of Veteran Affairs 
  • Small Business Administration 
  • Non-profit organizations like the National Veteran Business Development Council.  

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:

  • Dedicated to helping veteran-owned small businesses set their foot into the supply chain.  
  • also provides the certification for the same. 

National Veteran-Owned Business Association (NAVOBA) Certificate:  

The National Veteran-Owned Business Association provides these certificates for up to two years. 

What are the Eligibility Criteria for Veteran-Owned Business Certification?  

To be eligible for veteran-owned business certification, you should fall under certain eligibility criteria

  • Served on duty with the Coast Guard, Air Force, Marines, Navy, or the Army. 
  • Honorably released from your service. 
  • 51% of your small business is owned by a veteran. 
  • Play an active role in the management of daily operations of the business.  
  • For SDVOSB, a disability rating letter from the Department of Veteran Affairs or the Department of Defense is required.  

How to Get Your Veteran-Owned Business Certification?  

  • Choose the Right Certification 

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.  

  • Fulfill Your Application Requirements 

Complete your certification after meeting the eligibility criteria. Here are the documents that you will require:  

  • Resume 
  • Operating Agreement 
  • Past tax returns 
  • Articles of the incorporation  
  • Certificate of discharge from service  
  • Rating of disability certificate  
  • Get Your Certification 

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.   

  • Time to Use Your Certification 

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.  

Key Takeaways  

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!

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