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Friday, December 17, 2021
The Spokesman-Review
VETERANS CHRONICLE
HOW TO START A SMALL BUSINESS AS A VETERAN As a veteran, many of the skills you learned in the military can be especially helpful in running a business. The wide range of hard and soft skills you acquired through service can be transferred with great success to the private sector. Many veterans are doing just that. According to the United States Small
Business Association (SBA), two and a half million businesses are run by veterans. Nearly one in 10 U.S. businesses are veteran-owned. They cover the entire range of business types: from professional and technical services to consulting, construction, consumer products and more.
Vets First Verification Program The Vets First Verification Program affords verified firms owned and controlled by veterans and service-disabled veterans the opportunity to compete for VA set asides. The Veterans Benefits, Health Care, and Information Technology Act of 2006 (Public Law 109-461) provides the U.S. Department of Veterans Affairs (VA) with unique authority for Service-Disabled Veteran-Owned Small Business (SDVOSB) and Veteran-Owned Small Business (VOSB) set-aside and sole source contracts. This procurement authority, and its subsequent implementation, is a logical extension of VA’s mission to care for our nation’s veterans. VA refers to this program as the Veterans First Contracting Program. The Vets First Verification Program affords verified firms owned and controlled by veterans and service-disabled veterans the opportunity to compete for VA set asides. During verification, the Center for Verification and Evaluation (CVE) verifies SDVOSBs/ VOSBs according to the tenets found in Title 38 Code of Federal Regulations (CFR) Part 74 and 13 CFR Part 125 that address veteran eligibility, ownership, and control. In order to qualify for participation in the Veterans First Contracting Program, eligible SDVOSBs/ VOSBs must first be verified. As part of the Verification Process, applicants move through four stages: Intake, Assessment, Federal Review, and Decision. For more information, visit https://www.va.gov/osdbu/verification/index.asp. For local resources, see “How Can I Get Help?” on page 5 this publication.
While funding can be an obstacle for many new entrepreneurs, veterans have some advantages. Federal agencies are required to set aside a certain amount of funding for veterans. This is especially helpful, given that many veterans lack sufficient credit history to obtain funding from traditional sources like banks.
For more information and information about veteran-owned businesses, go to https://www.va.gov/careers-employment/veteran-owned-business-support/. For local resources, see “How Can I Get Help?” on page 5 in this publication.
GETTING SUPPORT FOR YOUR VETERAN-OWNED SMALL BUSINESS
If you have a veteran-owned small business, you may qualify for advantages when bidding on government contracts – along with access to other resources and support – through the Vets First Verification Program. This program is run by the Office of Small & Disadvantaged Business Utilization (OSDBU). Registering through OSDBU will allow you to work with other businesses who work with VA must be registered). Find out if you’re eligible and how to register your business. Am I eligible to register my business as a veteran-owned small business (VOSB) through the Vets First Verification Program? You may be eligible if you’re a veteran, and you or another veteran at your company meet all the following requirements: • One of you owns 51% or more of the company you want to register • One of you has full control over the day-today management, decision-making, and strategic policy of the business • One of you has the managerial experience needed to manage the business
• One of you is the highest-paid person in the company (or can provide a written statement explaining why your taking lower pay helps the business) • One of you works full time for the business • One of you holds the highest officer position in the company To be considered a veteran, at least one of these must be true: • You served on active duty with the Army, Air Force, Navy, Marine Corps, or Coast Guard for any length of time and didn’t
receive a dishonorable discharge • You served as a Reservist or member of the National Guard and were called to federal active duty or disabled from a disease or injury that started or got worse in the line of duty or while in training status • You may be eligible to register your business as a Service-Disabled Veteran-Owned Small Business (SDVOSB) if you meet all the requirements of a VOSB listed above, and either you or another veteran owner of the company meets at
least one of the requirements listed below: • A disability rating letter from us confirming that you have a service-connected disability rating between 0 and 100% • A disability determination from the Department of Defense For more about veteranowned businesses, visit w w w.v a . g o v/ c a r e e r s e m p l o y m e n t / ve t e r a n owned-business-support/. For local help, see “How Can I Get Help” on page 5 of this publication.
