Starting and managing a small business can seem to be a pretty big challenge, but many have taken that challenge and are glad they did. Being your own boss can be a very satisfying experience, as is building a business. Entrepreneurship is not for everyone, but it just might be right for you.
Did you know that there are approximately 3 million veteran business owners in the United States, that veterans are more than twice as likely to start a business as non-veterans and that they are significantly more successful after five years?
For those interested in starting, restarting or growing a business, there is a great deal of help available.
One of the first stops in your research should be the U.S. Small Business Administration, or SBA. They have the new Boots to Basics entrepreneurial training program, a variety of loan guarantee programs and procurement assistance, plus a number of programs focusing on female veteran entrepreneurs. Go to www.sba.gov/veterans for more information.
Under the SBA's umbrella, there are also a number of great organizations: SCORE, Small Business Development Centers and Veterans Business Outreach Centers. They also partner with the Institute for Veterans and Military Families (IVMF) at Syracuse University that developed the Entrepreneurial Bootcamp for Veterans with Disabilities, V-Wise (Veteran Women Igniting the Spirit of Entrepreneurship) and others. More can be found at http://vets.syr.edu/.
The Small Business Development Centers are located in every state and provide workshops and guidance for startups and existing businesses, and they have a program specially designed for veterans. To find out where your closest center is located, contact the Association of Small Business Development Centers.
SCORE has been tapped by the White House Joining Forces program to assist veterans in starting business through its new Veterans Fast Launch program. SCORE is a great organization with close to 400 offices and more than 11,000 counselors who want to help you succeed in business; the majority of their programs and services are free or at a minimal fee. To find the closest office and information about their online counseling programs, go to www.score.org and click on veterans.
There are currently 16 Veteran Business Outreach Centers around the country that specifically help veterans start and grow their business.
Be sure to check out franchising because it might just be right for you. VetFran is part of the International Franchise Association, with more than 500 of their member companies offering special incentives to encourage veterans to own a franchise.
All of these organizations have excellent content on their websites to assist you in most aspects of entrepreneurship, whether it's business planning, cash flow or how to sell your business. A veteran-owned membership organization worthy of note is the Veterans Business Network, because its main goal is to grow veteran businesses. It's free, unique and has tons of content and great partners, including Military.com.
Steve White, the founder and CEO of the Veterans Business Network, served with the 1st Cavalry Division in Vietnam and is a longtime supporter of veteran entrepreneurship. A desire to help veterans guided White to start the Veterans Business Network, design and direct the entrepreneurship program for the New York Veterans Leadership Program, and serve on the Task Force for Veterans' Entrepreneurship and the SBA's Advisory Committee on Veterans Business Affairs.
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