Veteran Entrepreneurship: Crushing It in the Civilian World

You just crushed it serving your country, now get ready to crush it in the business world! Transitioning from the military to civilian life can feel like jumping out of a perfectly good airplane without a parachute (we’ve all been there, right?). But fear not, fellow veterans, because entrepreneurship is calling!

Did you know there are over million veteran-owned businesses in the U.S., employing almost million people? That’s a whole lotta economic firepower! And with thousands of veterans transitioning to civilian life every year, many are choosing the exciting path of entrepreneurship. So, buckle up, buttercup, because we’re about to dive deep into the resources and support available to veteran entrepreneurs in this fine year of .

Why Veterans Make Killer Entrepreneurs

Let’s be real, leaving the structure and camaraderie of the military can leave a gaping hole in your life (and no, we’re not talking about the one in your sock drawer). You miss the mission, the purpose, the feeling of being part of something bigger than yourself. Well, guess what? Entrepreneurship offers that same sense of purpose, with an extra scoop of “being your own boss” on top! No more saluting to anyone unless you want to!

Veterans are wired differently (in a good way, we promise). You’re disciplined, you’re mission-oriented, you thrive under pressure, and you’re used to taking charge. You’ve faced challenges head-on and come out on top. These qualities, my friends, are pure gold in the entrepreneurial world.

Show Me the Money: Funding Your Veteran-Owned Business

Alright, so you’ve got the drive, you’ve got the skills, now you need the cash. Starting a business takes dough, but luckily, Uncle Sam has your six (because that’s what Uncle Sam does best).

Small Business Administration (SBA) Programs: Your New Best Friend

The SBA is like that super helpful wingman who always knows where to find the best deals. They’ve got a whole arsenal of programs designed specifically for veteran entrepreneurs:

• Military Reservist Loan Program: Got employees who get called up to active duty? This program swoops in with low-interest loans to cover your operating costs while they’re out saving the world.
• Veterans Advantage Program: Think of this as the VIP pass to SBA-backed loans. You get reduced rates, lower fees, and a whole team of people cheering you on.

Why SBA Loans are the Bomb

• Lower Costs and Collateral Requirements: Because the SBA has your back, lenders are more likely to give you better terms.
• Guaranteed by the Federal Government: This means less risk for lenders, which translates to a better chance of getting approved for a loan.

Navigating the Business Battlefield: Support and Advice

Starting a business is like navigating a minefield blindfolded (don’t try that at home, kids). It’s daunting, it’s confusing, and you’re bound to step on a few metaphorical explosives along the way. But fear not, brave entrepreneur, because there’s a whole army of support and counseling services ready to guide you through the trenches.

From Bootcamp to Business School: Filling the Knowledge Gap

Let’s face it, most veterans didn’t spend their days in the service learning about balance sheets and marketing funnels (unless you were in finance, in which case, you’re way ahead of the game). That’s where these awesome resources come in:

SBA Resources: Your One-Stop Shop for Business Help

• Small Business Development Centers (SBDCs): Think of these as free therapy sessions for your business. They offer confidential business advice, training, and counseling—all without costing you a dime.
• Veterans Business Outreach Centers (VBOCs): These bad boys are like the Special Forces of business support. They provide entrepreneurial development services specifically for veterans, including training, counseling, and referrals to other helpful resources.

Community Organizations: Because Veterans Help Veterans

Remember that camaraderie you miss from the service? Yeah, it’s alive and well in these awesome organizations:

• Veterans Multi-Service Center (Philadelphia): This powerhouse offers a smorgasbord of services for veterans, including career counseling, networking events, and resources tailored specifically for entrepreneurs.
• Greater Philadelphia Veterans Network (GPVN): This network is all about connecting veterans with each other and providing the support they need to succeed in business. Think of it as LinkedIn, but with more camouflage and inside jokes.

Back to School (Without the Pop Quizzes): Formalized Educational Programs

Remember those days of cramming for exams and pulling all-nighters? Yeah, we don’t miss them either. But the good news is, there are formalized educational programs specifically designed for veteran entrepreneurs—and the best part is, they’re way more fun than bootcamp.

Saint Joseph’s University Office of Veterans Services: Where Education Meets Entrepreneurship

This university gets it. They understand the unique challenges faced by veterans, especially those with disabilities, and they’ve stepped up to the plate with some incredible programs:

• Resources Galore: From financial aid assistance to career counseling, they’ve got your back every step of the way.
• Entrepreneurship Bootcamp for Veterans: This ain’t your mama’s bootcamp (unless your mama is a business mogul, in which case, kudos to her). This free, three-phase program will whip your entrepreneurial skills into shape faster than you can say “business plan.”

Inside the Entrepreneurship Bootcamp for Veterans:

• Seven-Day Residency: Get ready for an immersive experience packed with classroom discussions, guest lectures from industry rockstars, hands-on learning, and mentorship from seasoned entrepreneurs.
• Business Plan Boot Camp: You’ll leave this program with a rock-solid business plan and the confidence to pitch it to investors like a boss.
• Ongoing Support: They don’t just leave you hanging after graduation. You’ll receive ongoing support and mentorship for a full year to help you navigate the ups and downs of starting a business.

Program Success and Diversity:

• Over 3,000 Alumni Strong: This program has helped thousands of veterans launch successful businesses, so you’ll be in good company.
• Representing the Military Melting Pot: Just like the military, this program embraces diversity and welcomes veterans from all backgrounds.
• Harnessing Your Inner Superhero: The program focuses on leveraging those unique skills you honed in the military—resilience, grit, leadership—and turning them into entrepreneurial superpowers.

Winning Government Contracts: Because Uncle Sam Loves a Good Business Deal

Did you know the government is the largest buyer of goods and services in the world? Like, seriously, they buy a lot of stuff. And guess what? They’ve set aside a big chunk of that spending specifically for small businesses, especially those owned by veterans. Cha-ching!

Government Mandates: Your Ticket to the Big Leagues

Here’s the deal:

• 23% for the Little Guys: A whopping % of all government contracts are reserved for small businesses. That’s a huge slice of the pie!
• Veterans Get a Bigger Slice: Within that %, a solid % is earmarked for veteran-owned businesses, and another % is reserved for businesses owned by service-disabled veterans.

SBA and APEX Accelerators: Your Wingmen in the World of Government Contracts

Navigating the world of government contracts can feel like trying to decipher ancient hieroglyphics, but don’t worry, you don’t have to go it alone. The SBA and APEX Accelerators are here to help:

• Connecting the Dots: They act as matchmakers, connecting veteran-owned businesses with relevant government contracting opportunities.
• Navigating the Maze: They provide guidance on the often-complex process of bidding on and securing government contracts.

Veteran Networks: Your Secret Weapon

Remember those community organizations we talked about? They’re not just for moral support and free coffee (although that’s a bonus). They can also be your secret weapon in the cutthroat world of government contracts:

• Inside Scoop: Veteran networks often have the inside track on upcoming government contracting opportunities.
• Referrals, Referrals, Referrals: It’s all about who you know, right? Veteran networks can provide invaluable referrals to decision-makers and prime contractors.