FACT SHEET: SBA Celebrates National Veterans Small Business Week

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Small Business Administration supports and uplifts veteran entrepreneurs

WASHINGTON, Oct. 30, 2023 (GLOBE NEWSWIRE) — The U.S. Small Business Administration (SBA) marked the start of National Veterans Small Business Week today, with a series of virtual and in-person events throughout the country occurring from October 30 – November 3 to highlight the entrepreneurial journeys of veteran- and military spouse-owned small business owners, the agency’s support of this important community, and the Biden-Harris Administration’s record investments in veteran entrepreneurship.

This week, SBA Administrator Isabel Guzman will host two veterans’ business roundtables in the Washington, D.C. area, help open a new Veterans’ Business Outreach Center in California, and visit with the veteran and military family community in Georgia.

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The Biden-Harris Administration is committed to supporting veterans in every facet of their lives once they return home, and the SBA has taken several steps to help thousands of transitioning service members, veterans, and military spouses get access to opportunity and the American dream through the path of business ownership.

Biden-Harris Administration and SBA Support for Veteran Entrepreneurs:

  • A new executive order to support military spouses, under which the SBA will provide resources, capital, and other specialized support to help get their businesses off the ground.

  • Implementing the SBA Veteran Business Certification program, which connects service-disabled veteran-owned small businesses with federal contracting opportunities through a more streamlined and user-friendly process.  

  • Expanding the Veteran Business Outreach Center (VBOC) program from 22 to 28 VBOCs across the country to provide more resources and support to active service members, veterans and military spouses, and awarding $3.5 million in grants to support outreach organizations focused on veteran small businesses.

  • Overhauling our loan programs to expand access to capital for veteran-owned small businesses and other small business owners.

  • Offering the Boots to Business Program on military installations worldwide and in local communities, offering a curriculum including business ownership fundamentals, business idea feasibility analysis, and connections to the SBA ecosystem and follow-on courses.   

  • Bolstering Entrepreneurship Training Programs (ETPs), with 8 grantees serving women veterans, service-disabled veterans, and those interested in federal procurement through customized curriculums, in-person classes, and online courses that teach the fundamentals of business ownership. 

Veteran entrepreneurship is thriving under the Biden-Harris Administration. Currently, there are nearly 2 million veteran-owned small businesses in the United States that employ approximately 5 million workers. Each year, veteran-owned businesses make significant contributions to the U.S. economy, generating $1.3 trillion in total sales.

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About the U.S. Small Business Administration
The U.S. Small Business Administration helps power the American dream of business ownership. As the only go-to resource and voice for small businesses backed by the strength of the federal government, the SBA empowers entrepreneurs and small business owners with the resources and support they need to start, grow, expand their businesses, or recover from a declared disaster. It delivers services through an extensive network of SBA field offices and partnerships with public and private organizations. To learn more, visit www.sba.gov.

CONTACT: Christine Saah Nazer U.S. Small Business Administration 202-756-0304 [email protected] 

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