If you are a Veteran and a small business owner, you might qualify for benefits through the Vets First Verification Program. There is a program run by the Office of Small and Disadvantaged Business Utilization (OSDBU). When you register through OSDBU and the VA you’ll have access to various resources and support.
Who is eligible?
You might be eligible if you or another Veteran at your company meet all of the following requirements.
- One of you owns 51% or more of the company you want to register, and
- One of you has complete control over the day-to-day management, decision-making, and strategic policy of the business, and
- One of you has the managerial experience needed to manage the business, and
- One of you is the highest-paid person in the company (or can provide a written statement explaining why you’re taking lower pay helps the business), and
- One of you works full time for the business, and
- One of you holds the highest officer position in the company
You might also be eligible to register your business as a Service-Disabled Veteran-Owned Small Business (SDVOSB) if you meet all of the above criteria and you or another Veteran owner of the company have either a disability rating letter from the VA confirming a service-connected disability rating between 0% and 100% or a disability determination from the Department of Defense.
What are the benefits of registering your Veteran-Owned Small Business?
- The ability to do business with the VA
- Priority when you bid on contracts for other federal or state government agencies
- Tax relief
- Better access to capital
- Extra support if your startup or small business is poised for high growth and innovation
- Support in finding VA procurements, contract awards, and acquisition resources
- Resources, education, and training to help you learn how to do business with the VA
- Help building business partnerships and connecting with the people who make decisions about procurement in government and large private-sector firms
- Resources to guide you through every step of becoming an entrepreneur
You can also reach out to the U.S. Small Business Association (SBA) for additional resources to help you start or grow your small business. Several universities and non-profit organizations offer free or low-cost entrepreneur and business-focused courses for Veterans or their family members. For more information, you can connect with us.