More than 4 million businesses in the US are owned by Veterans which is approximately 9 per cent of total firms available! Source: Entrepreneur
These numbers clearly identify how rapidly veteran-owned businesses are increasing in the US. Undoubtedly, this number is only expected to grow in the future. However, there are still a lot of veteran-owned businesses which are not certified and hence, are not recognized by the government. Veterans hesitate to get involved in the process of getting certification as it looks complex.
However, they are not aware about a lot of business advantages that are offered to veteran-owned businesses which are certified. To avail those benefits, all you need to do is to certify your veteran-owned business.
Let’s take a look at all the benefits that you will get on certifying your veteran-owned business.
1. Access to Veteran Federal Procurement Program
The Veteran Federal Procurement program emphasizes equipping veterans with business-related skills and knowledge related to federal procurement. This training helps the professionals to be a part of government contracts and grows their businesses to another level.
Not only this, but the program also focuses on explaining the fact that government contracts are an existing business avenue. It also helps the business owners know the ways on how to take one step ahead with a career in procurement related to these contracts. During the course, you are provided with complete hands-on training and the course is available around the country.
2. Enrollment In Veterans Business Outreach Program
Veteran Business Certification will also help you enrol on the veterans business outreach program, sponsored by the Veterans Business development office.
The initiative comprises training, mentorships, success stories, assessments and business plans to help veterans know how to run a business. Any veteran residing in the country can apply for this program, irrespective of the location.
Pro tip: Get your veteran-owned business certified, register on the 58Joralemon application. The application simplifies the certification process for you by handling and submitting your documents and managing the further process.
3. Access to Women Veteran Entrepreneurship Training Program
If you are a woman having a veteran-owned business, you can also access women’s Veteran entrepreneurship training programs specially designed for women. These training programs are generally sponsored by the Small Business Administration and include different other programs as well which are designed to support women service members and veterans.
4. Exclusive Access To Boots To Business Program
As a veteran, if you own a business, you get access to a lot of entrepreneurial programs and one of them is boots to business. This program is conducted by the US Defense Department to help veterans enter the business world once their services have come to an end. The program also ensures, you will also come across a Boots to Business Reboot which will help you extend your training throughout all the communities.
5. Admission to VA Government Contracts
One of the major advantages of certifying veteran-owned businesses is access to VA government contracts. These are some unique contracts that the government keeps aside for small veteran-owned businesses. However, to get these contracts, you need to become a verified member of the Vets First Verification program. After verification, you will be able to access the contracts that only small businesses can bid on.
6. Take Advantage of Military Reservist Economic Injury Disaster Loan
This disaster loan program is specially designed to allow organizations to qualify for loans in case their employees are being called to active duty. However, to avail of this program, there are some restrictions and conditions that an organization has to follow. It includes that your employee should be termed “essential”. But, in case you manage to qualify, you can even get up to a $2 million loan.
7. Registration in Hivers And Strivers Program
Another program that is quite beneficial for veteran-owned businesses is the hivers and strivers program. The angel investing program helps military graduates begin their own businesses. This angel group invests up to $1 million and most of the investors of this program are veterans themselves. Moreover, a military graduate who has a business idea can apply for this program and check out all the rules and regulations of this program.
8. Access To The Veterans Readiness And Employment Program
Another program that is sponsored by the Department of Veteran Affairs is the Veterans readiness and employment program. This program aims that service-disabled veterans can look for and maintain employment after concluding their services.
In this program, there are multiple tracks available to provide multiple career options to people including the self-employment one. This track is designed to help veterans begin their own businesses and offer them all the tools and resources required to start their businesses.
9. Enrollment In The Service Disabled VSOB Program
When it comes to the service-disabled VSOB program, this is more of a specific niche program as compared to other government contract programs. This program is created for the veterans who became disabled during their services.
Such veterans are allowed to bid for that 3% of government programs which no one else can bid for. However, you need to fulfil certain qualifications for this course and make sure that the disability is related to the service only.
10. Take advantage of SBA Veteran Loan
Another loan program that you can take full advantage of as a veteran-certified business is the SBA veteran loan program. This program comes under the arena by the Small Business administration and is launched to help veterans begin their own business. The most valuable point of this program is its lower interest rates and lack of the up-front requirement. It ensures that veterans can get the required capital in less time and start their business quickly.
Veteran-owned businesses cover up to 9% of businesses in the US and the government supports the sacrifices made by veterans by providing them with different loan and training programs. These loan options make it easy for veterans to start their own businesses whereas the training programs can help them know the ins and outs of the business.
But here’s the catch! Certify your veteran owned business to avail these benefits to grow your business. Apply today!