Pennsylvania veteran business owners are among entrepreneurs who will receive expanded support from the federal government.
The Biden-Harris Administration announced Friday expanded support for the Veterans Business Outreach Centers from 22 to 28 locations, fully servicing all 50 states, the District of Columbia, Puerto Rico, U.S. Virgin Islands, Guam, and American Samoa.
There are nearly two million veteran-owned small businesses in the U.S., employing over five million people and generating over $1.3 trillion in annual revenue. Organizations receiving grants from the Small Business Administration (SBA) demonstrate a commitment to addressing challenges facing veteran-owned small businesses and help them succeed through the Department of Defense’s Transition Assistance Program.
“Our servicemembers have protected our nation with selfless honor and sacrifice, and the Biden-Harris Administration is committed to supporting them with resources and opportunities as they pursue their American dreams of business ownership,” U.S. Small Business Administrator Isabella Casillas Guzman said in a statement.
“With this expansion of our veteran-focused network of small business centers, we can help more transitioning service members, veterans, National Guard and Reserve members, and military spouses start and grow their businesses and advance our economy.”
Grants will support a variety of services, including the following:
- Business planning: Provides veterans with training and counseling on accounting financial planning, and management.
- Assistance accessing capital: Provides veterans help in understanding the multitude of sources of capital available to them, as well as helps them in accessing financing, loans, and grants.
- Marketing and outreach: Provides marketing and outreach services to promote veteran-owned businesses in their communities and beyond.
- Transitioning. Provides Boots to Business instruction to help active-duty service members transition out of the military.
Acting Associate Administrator for the Office of Veterans Business Development Timothy Green said Veterans Business Outreach Centers (VBOC) are a one-stop shop for business training, counseling, and resource partner referrals to transitioning service members, veterans, National Guard and Reserve members, and military spouses who are interested in starting a small business or expanding an existing one.
“The new centers will provide additional resources to increase support and access for nearly 2 million veteran-owned small businesses,” said Green. “The expanded locations aim to enhance the veteran small business owner experience with more opportunities for training and less appointment wait times.”