More than 4 million businesses in the US are owned by Veterans, which is approximately 9 percent of total firms available! Source: Entrepreneur
These numbers identify how rapidly veteran-owned businesses are increasing in the US. Undoubtedly, this number will only grow in the future. However, many veteran-owned companies must be certified and recognized by the government. Veterans hesitate to get involved in getting a certification because the process looks complex.
However, they must know many business advantages available to certified veteran-owned businesses. To avail of these benefits, all you need to do is to certify your veteran-owned business.
Let’s look at all the benefits you will get on certifying your veteran-owned business.
Reasons You Should Certify Your Veteran-Owned Business
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 that government contracts are an existing business avenue. It also helps business owners know how to take one step ahead with a career in procurement related to these contracts. You get complete hands-on training during the course, and the system is available nationwide.
Enrollment In Veterans Business Outreach Program
Veteran Business Certification will also help you enroll in 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 location.
Pro tip: Get your veteran-owned business certified, and register on the 58Joralemon application. The application simplifies the certification process by handling and submitting your documents and managing the entire process.
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.
Exclusive Access to Boots to Business Program
As a veteran, if you own a business, you get access to many entrepreneurial programs, including boots to business. The US Defense Department conducts the program to help veterans enter the business world after their services have ended. The program also ensures you will come across a Boots to Business Reboot to help you extend your training throughout all the communities.
Admission to VA Government Contracts
One of the advantages of certifying veteran-owned businesses is access to VA government contracts. The governments keep these unique contracts aside for small veteran-owned companies. However, to get these contracts, you must become a verified Vets First Verification program member. After verification, you can access the contracts that only small businesses can bid on.
Take Advantage of the Military Reservist Economic Injury Disaster Loan
This disaster loan program help organizations qualify for loans if their employees are 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, once you qualify, you can get up to a $2 million loan.
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 businesses. This angel group invests up to $1 million, and most of this program’s investors are veterans. Moreover, an army graduate with a business idea can apply for this program and check out all the rules and regulations of this program.
Access to the Veterans Readiness and Employment Program
Another Department of Veterans Affairs program is the Veterans readiness and employment program. This program supports service-disabled veterans to look for and maintain employment after concluding their services.
In this program, multiple tracks are available to provide career options to people, including self-employment. This track helps veterans begin their businesses and offer them all the tools and resources required to start their businesses.
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 was created for veterans who became disabled during their services.
Such veterans can bid for that 3% of government programs that no one else can. However, you need to fulfill specific qualifications for this course and make sure that the disability is related to the service only.
Take Advantage of the SBA Veteran Loan
Another loan program you can take full advantage of as a veteran-certified business is the SBA veteran loan program. This program comes under the arena of the Small Business administration and aims to help veterans begin their businesses. The most valuable point of this program is its lower interest rates and lack of up-front requirements. It ensures that veterans can get the required capital in less time and start their businesses quickly.
In Conclusion
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 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 of these benefits to grow your business. Apply today!
