Veterans Have Several Resources for Entrepreneurship

Veterans may find it discouraging to come home to a Country steeped in an economic recession, but there is plenty of help out there to get them not only working, but working for themselves. In some places they are referred to as Enteranpreneurs, men and women who have chosen to start their own business after Military Service. The web lists several organizations that specifically target the Military Veteran Entrepreneur. The sites are places the Veteran Entrepreneur can go to, giving them inspiration, direction, and practical information. Whether you are starting a home-based business or starting up a small brick and mortar shop, chances are you will need to know where to get the best resources to make your business a success. Two organizations formed specifically to help Veterans with their dreams of business ownership include, the VeteransCorp and the National Veteran-Owned Business Association. The VeteransCorp.org website gives information and news about Veteran Entrepreneurship, including conferences specially targeting Veteran Entrepreneurs. According to the site, the corporation is charged with creating and enhancing entrepreneurial business opportunities for Veterans, including Service-Disabled Veterans. The Board of Directors is appointed by the President of the United States. It provides Veterans with the tools and resources they need to be successful in business, including access to capital, bonding and entrepreneurial education. The National Veteran-Owned Business Association, or NaVOBA, unites current and future veteran-owned businesses by acting as the national voice for the Veteran Business movement. There are currently three million Veteran-owned businesses in the United States. It’s the job of the NaVOBA to convince corporate America and the Government to consider using Veteran-Owned Businesses as preferred vendors. This organization began the term "Veteranprenuer" and names a Veteranprenuer of the Year. It holds an annual conference called VOBE, Veteran Owned Business Expo. These entrepreneurs are a growing force in the economy. Veterans are taking advantage of the resources available to them to start their own businesses and find financial independence. For example, the Small Business Administration approved more than $250 million in loans for Veterans in the past 20 months to either start up new businesses or expand upon existing ones. Through its Patriot Express initiative, loans are available to Veterans for up to $500,000 and the interest rates are generally between 2.25 percent and 4.75 percent over prime. The average loan amount for the 2,800 Veterans who took out loans was n$88,000. Patriot Express is available to Veterans, Service-Disabled Veterans, Active-Duty Service Members participating in the Military’s Transition Assistance Program, Reservists and National Guard Members, current spouses of any of the above, and the widowed spouse of a Service Member or Veteran who died during service or of a Service-Connected Disability. Despite the economy, Veterans are taking advantage of these resources, and are part of a growing number of people who have decided to go into business for themselves.n nAccording to a recent Wall Street Journal poll, 69 percent of people asked said it was a good time to start up a new business. So, what are you waiting for? Today is your day!