More than 4 million businesses in the US are owned by Veterans, which is approximately 9 percent of total firms available!
These numbers identify how rapidly veteran-owned businesses are increasing in the US. Undoubtedly, this number will only grow in the future. However, there are many veteran-owned businesses that are not certified and, therefore, not recognized by the government. Veterans hesitate to get involved in getting a certification because the process looks complex.
However, they are not aware of a lot of 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 take a look at all the benefits that you will get on certifying your veteran-owned business.
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. During the course, you get complete hands-on training and the course is available around the country.
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.
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.
As a veteran, if you own a business, you get access to many entrepreneurial programs and one of them is boots to business. The program is conducted by the US Defense Department 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 that will help you extend your training throughout all the communities.
One of the advantages of certifying veteran-owned businesses is access to VA government contracts. These government keept these unique contracts aside for small veteran-owned businesses. However, to get these contracts, you must 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.
This disaster loan program is designed to help organizations to qualify for loans in case 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 manage to qualify, you can get up to a $2 million loan.
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 the investors of this program are veterans themselves. Moreover, a military graduate with a business idea can apply for this program and check out all the rules and regulations of this program.
Another program by the Department of Veterans Affairs 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, there are multiple tracks available to provide career options to people, including self-employment. This track is designed to help veterans begin their businesses and offer them all the tools and resources required to start their businesses.
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 veterans who became disabled during their services.
Such veterans can bid for that 3% of government programs that no one else can bid for. However, you need to fulfill certain qualifications for this course and make sure that the disability is related to the service only.
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.
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!
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