Office of Veterans Business Development

SBA Funds Veteran Owned Small Business Growth Training Program

Veteran business owners looking to grow their business: look no further.

To fill the current service gap available to existing veteran small business owners, the U.S. Small Business Administration (SBA) announced the award of $100,000 in grant funds to the Veteran Entrepreneurial Training and Resource Network (VETRN) to pilot the Veteran Owned Small Business Growth Training program. In partnership with the Department of Veterans Affairs (VA) and SBA, this program will be offered at no cost to veteran small business owners to equip them with the resources, mentors, and professional network necessary to grow their business.

In 2017, 80 percent of VETRN graduates added or retained jobs and 75 percent increased or maintained annual revenue. To date, VETRN has graduated more than 40 veteran small business owners from their program.

On September 21, 2019, VETRN will launch a new cohort in Portsmouth, NH. Participants will learn about strategic planning, financial management, cash flow forecasting, marketing and sales, human resources, growth plan development, access to capital, and legal and government contracting.

By attending this program, veteran small business owners can connect with other veterans who have successfully transitioned back into civilian life and are now running their own businesses. Just like the military, entrepreneurship is not a solo mission and this program encourages veterans to utilize mentors, peer-to-peer mentoring, a professional resource network, and in-class training.

Interested in applying? Here’s what you need to know:

  • Two cohorts, the first starting on September 21, 2019
  • 12-20 participants in each cohort
  • 26-week program with 13 classroom instruction sessions, 3 hours each
  • 13 peer-to-peer CEO mentoring sessions
  • 100 hours of combined peer-to-peer mentoring, work assignments, and classroom training
  • Each participant is assigned at least one mentor
  • StreetWISE MBA curriculum and guest experts in every class including representatives from local SBA District Offices and professional resource partners

Upon completion, participants will have completed and have vetted by industry a three-year strategic growth action plan, and are encouraged to use the extensive resource network, including SBA’s resources, to help them through the next phase of their journey.

Veteran and military spouse business owners (or anyone with an immediate family member who is a veteran) are eligible to apply for this program. The business should have annual revenues of $75,000 and been in operation for one year with one employee (not including the owner).

Apply today! Head to vetrn.org to fill out a short application or email info@vetrn.org or lelandg@vetrn.org.

File Attachments: 
Attachments Size
SBA_VOSB_Growth_Training_Program_OnePager_EXTERNAL_061719 191Kb