During Veteran Small Business Week, set to occur from November 1 through November 5, 2021, the U.S. Small Business Administration (SBA) aims to honor, connect, and empower past, present, and future entrepreneurs and business owners who are service members, veterans, or military spouses. Recognizing the significant contribution of veterans to small businesses, with 1.76 million of the nation’s 32.5 million small businesses owned by veterans, the SBA offers assistance programs, such as the Small Business Development Center (SBDC), the Service Corps Of Retired Executives (SCORE), and the Veteran’s Business Outreach Center (VBOC), providing free, confidential counseling and training. This year’s Veteran Small Business Week intends to celebrate the resilience of the veteran and military small business community, especially amidst economic hardships experienced over the past 18 months.

Veterans in Small Business

Veterans, served their country in war and now, in peace, they serve their communities. According to the US Small Business Administration’s Office of Advocacy, of the 32.5 million small businesses in this country, Veterans own 1.76 million. These small business owners bring the leadership, managerial and technical skills acquired during their Active/Reserve/Guard service. In addition to this, they also have some specific challenges and needs in transitioning from the military to a civilian environment.

Assistance Programs for Veterans

The Small Business Administration recognized the need to assist Veterans in both this transition but also in learning new concepts that, heretofore, were unknown to them. In order to accomplish this, it established several assistance programs such as the Small Business Development Center (SBDC), the Service Corps Of Retired Executives (SCORE), and the Veteran’s Business Outreach Center (VBOC). Our region is home to all three organizations. They provide free, confidential counseling and training to both existing as well as prospective small business owners.

National Veterans Small Business Week

From November 1 through November 5, 2021, The U.S. Small Business Administration (SBA) will celebrate, connect, and empower service members (including National Guard and Reserve), veteran, and military spouse entrepreneurs and business owners – past, present, and future – during National Veterans Small Business Week (NVSBW). The goal of NVSBW is to raise awareness of veteran small business ownership and encourage communities to support their veteran- and military-owned businesses. This year, the events will focus on celebrating the strength and resilience of the veteran and military small business community as they continue to adapt, pivot, and overcome the economic hardships from the last 18 months. For more information about this week and associated events, please visit sba.gov/nvsbw.

Question & Answer

What is Veteran Small Business Week?

Veteran Small Business Week is a week-long event set to occur from November 1 through November 5, 2021, aimed at honoring, connecting, and empowering past, present, and future entrepreneurs and business owners who are service members, veterans, or military spouses.

How many small businesses in the U.S. are owned by veterans?

According to the US Small Business Administration’s Office of Advocacy, out of the nation’s 32.5 million small businesses, 1.76 million are owned by veterans.

What assistance programs are available for veterans in small business?

The Small Business Administration offers assistance programs such as the Small Business Development Center (SBDC), the Service Corps Of Retired Executives (SCORE), and the Veteran’s Business Outreach Center (VBOC) to provide free, confidential counseling and training to veterans in small business.