(Editor’s note: Cross-posted from SBA’s blog.)

I’m excited to announce the release of a report by the Interagency Task Force on Veterans Small Business Development called “Heroes on the Homefront: Supporting Veteran Success as Small Business Owners.”  This is the second report of its kind where task force members from seven agencies have come together to collaborate on small business issues that are unique to Veteran business owners.

The U.S. Small Business Administration (SBA) believes that two of America’s greatest assets are the service of our returning veterans and the economic dynamism of our small businesses.  It is no secret that entrepreneurs and small businesses are the engines of American innovation and economic prosperity.  For example, our nation’s 28 million small firms employ 60 million Americans, or half of the private sector workforce, and they are responsible for creating 2 out of 3 net new private sector jobs across the country.  And, these numbers are even better when looking at Veteran Owned Small Businesses:

  • U.S. military veterans own 2.4 million businesses, or nearly 1 in 10 of all businesses nationwide. 8.3 percent of veteran business owners have service-connected disabilities.
  • Veteran-owned businesses generate $1.2 trillion in receipts and employ nearly 5.8 million people.
  • In the private sector workforce, veterans are at least 45 percent more likely than those with no active-duty military experience to be self-employed.

The focus of this year’s report, the Task Force’s second, is to provide updates on the 18 recommendations that were made in last year’s report.  The recommendations are organized around three priority areas for engaging the Federal government: (1) Increase Opportunities for Growth; (2) Improve and Expand Counseling and Training Services; and (3) Reduce Barriers to Growth and Improve Coordination and Efficiencies.

We are pleased to report great progress has been made since the Task Force’s initial review.  In FY 2012, the Task Force, along with the interagency Veterans Employment Initiative, developed and piloted a re-designed military transition program, entitled Transition GPS, that includes an entrepreneurship training program called “Operation Boots to Business: from Service to Startup.” This program is expected to be rolled out nationally in the coming year.  The Task Force has also worked to streamline programs and cut paperwork for veteran small businesses through support for initiatives such as BusinessUSA and QuickApp for surety bonds and it has continued the efforts begun last year to make the process of winning Federal government contracts simpler and easier for service-disabled veterans and veteran-owned small business.

We know that our nation’s veterans helped reshape the American economy following World War II. They helped to build one of the longest periods of economic growth in our country’s history. And we know they can do it again if they are simply given the right tools and the right opportunities.

That’s why the SBA and the entire Obama Administration is committed to ensuring that these amazing men and women have the access and opportunity they need to fully realize their potential as entrepreneurs and small business owners.

These men have women have served our country so well. And as they begin this next chapter in their lives, we are prepared to be with them every step of the way.

Marie Johns is Deputy Administrator of the U.S. Small Business Administration. She is responsible for management and oversight of the agency, and leads the agency’s efforts to reach underserved communities.

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3 Comments

  1. Howard Hernandez December 1, 2012 at 23:53

    As as a Vietnam Veteran, the new California State Commander of the American GI Forum and the Commander of the City of Commerce AGIF Chapter, I have implemented a program to assist and mentor our disabled Veterans with the opportunity to develop and participate in start up businesses. The program is titled the “Commerce Veterans Business Resources Center” (CVBRC) I have taken the liberty of contacting our local Congresswomen and I will pursue funding available, kindly forward any information on the programs identified in the above-referenced article.

  2. Charles Lilly November 29, 2012 at 21:14

    Thanks to the SBA, there is some hope for Veterans to springboard themselves into meaningful work. I tried the hard way to get as much education as possible, then approaching several Banks and a few Venture Capitalists to back my idea with a solid business plan. this plan worked for major Corporations that I previously worked for.
    There are a few little details that will kill you, you must have a passion to propose and market yourself as the best deal in town. Competing with major Corporations for work where they charge Clients upwardly of say $140 an hour, you could perform that exact work for two tenths of the price, but the Corporations will flood the market with H1B Visa’s and low cost centers all over the world to beat you down and out. You’ll need $2 million in insurance costs, some knowledge of economics, accounting, marketing, business law and business practice. If you are going to employ others, you should read the book; what supervisors should know. I travelled extensively and it took away time from Family and friends, so the Big Corporations could make bu cu bucks off of my back, all the time knowing when the work got slow, they would lay a couple thousand off. There are people out there who will help you gain the skills that you need to get going. Look on google or wherever for Retired Executives (no fee), or try and apply to Baltimore’s Women’s business training (I think they take 10 or 20 people at a time to teach you every aspect of starting a business. They have a high success rate. Oh my how I have tried just about everything in this economy. I am 100% service connected disabled veteran, and I won’t give up until they put a stick in me.

  3. Angela Crew-Dothard November 29, 2012 at 14:34

    I currently work at Carl Vinson VAMC in Dublin. This facility has NOTHING that helps Veterans such as myself to benefit our recovery or help us to maintain a quality of life. Since several EEOCs of being discriminated against because of my disability. I feel constructive discharge is what the Director and the EEOC is opting for me. I would love to start a therapeutic spa. I am a Licensed Master Cosmetologist in the State of Georgia and an Associates RN Degree I am a service-connected Veteran with Radiculopathy and Spondylosis,Plantar Faciitis So many Veterans are diagnosed with neurological conditions.I want to bring to the community a spa/therapy regiment that I learned while serving on Active Duty US Army. We perform aerobics in a heated swimming pool in which water weight was the better suited to get the workout needed to maintain circulation and tone up.
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