Providing business help to veterans | Small Business Association

Across America, there are more than 250,000 service members transitioning out of our military and looking to start their own businesses.

Across America, there are more than 250,000 service members transitioning out of our military and looking to start their own businesses. These veterans possess the unique skills, experience, leadership and drive that make them ideally suited to start businesses and create jobs in their local communities.

We know that veterans over-index in entrepreneurship. Today, there are approximately 2.5 million veteran-owned businesses and these businesses employ nearly 6 million individuals. In the private sector workforce, veterans are more likely than those with no active-duty military experience to be self-employed.

At the U.S. Small Business Administration and the Seattle district office, we are committed to ensuring that our nation’s veterans have access to the capital, counseling and federal contracting opportunities they need to start, build and grow successful small businesses.

In fiscal year 2013, SBA supported more than $1.8 billion in lending to more than 3,000 veteran-owned small businesses. And, as part of our partnership with the lending community, SBA worked with our top national, regional and community lenders to collectively increase their lending activity to veterans by 5 percent per year for the next five years through the SBA Veteran Pledge Initiative.

SBA also offers special assistance for small businesses owned by or employing activated Reserve and National Guard members. For example, military reservist business owners and companies that employ a military reservist in a key position may qualify for SBA’s Military Reservist Economic Injury Disaster Loan program when an active duty call-up results in a financial hardship on the business.

Research shows that small businesses receiving counseling see increased sales and longevity and have hired more workers. SBA supports a nationwide network of Veteran Business Opportunity Centers which, along with SBA’s other resource partners, provide business counseling and training. In 2013, with our resource partner network, SBA has helped train and counsel more than 107,000 veteran business owners to date.

Veteran-owned small businesses won more than $12.2 billion in federal contracting business in FY 2012. And for the first time ever, the federal government exceeded the 3 percent goal to contract with Service Disabled Veteran-Owned Small Businesses.

We’ve improved our collaboration with veteran-focused partner organizations and increased outreach via veteran-focused events and training programs, including Veteran Women Igniting the Spirit of Entrepreneurship, which provides focused business assistance to female veterans of all service areas and branches with a passion for and an interest in either starting a new small business or growing an existing one.

Our nation’s veterans have helped reshape the American economy. At the SBA, we know that with the right tools and opportunities, veterans can continue to build our economy for the long-term. The Seattle District Office is here to help. Contact 206-553-7310 for more information.

More in Business

Bellevue company patent infringement win gives small investors hope | Don Brunell

Until recently, our courts have been little help to patent owners.

Podiatrist opens Enumclaw practice

Go see Dr. Bock at 853 Watson Street North, Suite 100.

American giving has surpassed $400 billion | Don Brunell

“Americans’ record-breaking charitable giving in 2017 demonstrates that even in divisive times our commitment to philanthropy is solid.”

Vintage items, gifts and more at new Enumclaw shop

Featuring an eclectic mix of merchandise, partners Tori Ammons and Melissa Oglesbee… Continue reading

Jetsons cartoon robots now reality | Don Brunell

In April, the U.S. Labor Dept. reported a record high 844,000 unfilled positions in the hospitality industry — which is one out of eight jobs available today.

New shop a sweet spot in downtown Enumclaw

Cole St. now has a new fudge and bakery shop.

The role models around us

Sometimes, being a good role model is a good business decision, too.

Seattle’s misstep highlights need for new approach

Last week, Seattle’s City Council did an “about face” revoking the onerous… Continue reading

Washington’s expensive culvert court case

Too much money is spent in court where it should go to increasing the salmon population

Straw pulp looks like a game changer

250,000 tons of straw will soon be pulped for paper products.

Bad labels tough to shed

Seattle’s going to have a hard time battling the “anti-business” label.

Lt. Dan needs lots of helping hands

Gary Sinise formed the “Lt. Dan Band” in early 2004 and they began entertaining troops serving at home and abroad. Sinise often raised the money to pay the band and fund its travel.