Veterans Who Seek Small Business Loans Get Major Boost from SBA
The U.S. Small Business Administration (SBA) recognizes the contributions that veterans make by owning and running businesses that employ millions of Americans. According to the most recent U.S. Census Data, veteran-owned firms represent 9 percent of all U.S. firms.
These 2.45 million veteran-owned businesses employed over 5.8 million individuals. Transitioning service members are natural entrepreneurs, possessing the training, experience, and leadership skills to start businesses and create jobs.
A Public-Private Partnership to Train Transitioning Service Members in Entrepreneurship
SBA wants to help even more veterans grow their businesses and create jobs. We have worked with our expert network of Resource Partners (including Women’s Business Centers (WBCs) , SCORE chapters, Small Business Development Centers (SBDCs), and Veterans Business Opportunity Centers (VBOCs)), Syracuse University, the VA, and DOD to provide transitioning service members the knowledge, tools and resources they need to evaluate opportunities and become successful entrepreneurs. Through the Boots to Business initiative, service members will learn the nuts and bolts of how to start and grow a business. They will also be introduced to the SBA’s nationwide Resource Partner network for support throughout the lifecycle of their new business. Read more about our Resource Partner Network and find the help you need.
A Multi-Phased Approach
The Boots to Business program uses a multi-phased approach to introduce transitioning service members to the fundamentals of small business ownership and to the SBA tools and resources available to them. Building on lessons learned from theBoots to Business pilot program, launched in the Spring of 2012, the SBA aims to ultimately provide entrepreneurship awareness and opt-in training nationwide to the 250,000 service members from all branches of the military that transition each year.
- More about the Boots to Business Program
- Facts on Veterans and Entrepreneurship
- Resources for Transitioning Veterans
- View the 10-minute Informational Video