BY: SBA Mid-Atlantic Regional Administrator (acting) Steve Bulger

This week (Nov 4-8), the U.S. Small Business Administration celebrates National Veterans Small Business Week in a run up to Veterans Day, a time when we pause our busy lives to reflect upon the sacrifices our armed forces service members have made in defense of our country and our allies.  In our part to support these brave men and women, the SBA and our partner organizations empower veterans and their family members by equipping them with business counseling, training, access to capital, and contracting opportunities.

Veterans are integral to the growth of America’s small businesses Veteran-owned businesses in the United States employ five million workers and generate $1.1 trillion in receipts. Numbers like these reflect an economic power in veterans that cannot be ignored.

President Trump showed his dedication to small businesses and veterans by donating his second-quarter salary to the SBA to help our nation’s veterans transition from military service to entrepreneurship. The funds helped us SBA create an intensive entrepreneur training program specifically for veterans. The Veteran Entrepreneurial Training and Resource Network (VETRN) is a program for military veterans who are small business owners and their immediate family members that will equip these entrepreneurs with the resources and networks necessary to grow their small businesses.  

That manifested itself in a pilot 26-week program in which participants are currently taking part, featuring peer-to-peer mentoring and a course curriculum that includes strategic planning, financial management, cash flow forecasting, marketing the small business, sales methods, human resources, developing a growth plan, access to capital, legal issues, and government contracting. This is on top of the numerous programs SBA has for Veteran and Service Disabled Veteran-Owned Small Businesses. Adding VETRN to the SBA resource network will enable us to empower veterans with the training, mentorship, tools, and network they need to achieve their long-term goals.

Efforts like these are critical to the successful transition process for service members exiting the military and considering entrepreneurship as their next move. Veteran business owners interested in finding out more information about future VETRN programs can visit the VETRN website. To learn more about other SBA veterans programs and resources, visit www.sba.gov/vets.

Visit www.sba.gov/vetbiz or contact your local SBA district office to find out about various events. Also, join us in the celebration by following us on Twitter at @SBAgov and sharing your stories with the #VetBiz and #MyVetBiz hashtags.