AMGEN
StreetShares
 

actBy Debbie Gregory.

The Veterans Entrepreneurship Act of 2015 was passed by the Senate on July 23, 2015. The amendment is added to the Small Business Act. It prohibits the Small Business Administration (SBA) from collecting a guarantee fee in connection with a loan made under the SBA Express Program to a veteran or the spouse of a veteran on or after October 1, 2015. There is a provision to exempt the act during any upcoming fiscal year for which the President’s budget, submitted to Congress, includes a cost for the program that is above zero.

The amendment also requires the SBA to assess for Congress the level of outreach to and consultation with female veterans regarding access to capital by women’s business centers and Veterans Business Outreach Centers.

Additionally, starting October 1, 2015, the act prohibits the SBA from guaranteeing a loan if:

the lender determines that the borrower is unable to obtain credit elsewhere solely because the lender’s liquidity depends upon the guaranteed portion of the loan being sold on the secondary market, or

the sole purpose for requesting the guarantee is to allow the lender to exceed its legal lending limit.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business CoachingContracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

VAMBOA: Loan Advantage for Veterans Passes: By Debbie Gregory

smbusiness

By Debbie Gregory.

According to the Small Business Administration, veterans are 45% more likely to be self-employed than non-veterans. Veteran owned businesses are responsible for employing 5.8 million people and generating more than $1 trillion in revenue. That a trillion, with a “t.”

Over the next five years, is it estimated that more than 1 million men and women on active duty will return to civilian life. If the current trend holds, many of them will start their own businesses.

The business community and some government agencies are rallying to set these newest entrepreneurs up for success. Some examples of this are:

The Microsoft Software & Systems Academy is a bridge between serving in the U.S. military and creating technologies that improve lives.

“We already know that Veterans possess many of the hard work, strategic, problem solving skills to be successful,” said Chris Cortez, Vice President of Microsoft Military Affairs. “Whether they choose to start their own business or work for a large company, we want to support their desire to add new technology skills that they can turn into a long-lasting civilian career.”

The MSSA program is a full-time, 16 week, Information Technology (IT) job skills training program, for active duty US military service members who have received their separation date. Qualified participants are assigned to the MSSA program as their new place of duty and with successful completion, will be given the opportunity to interview at Microsoft for a full time position at Microsoft or one of our participating partners.

According to Cindy Bates, Vice President Microsoft U.S. Small Midsized Businesses, “It’s part of our corporate responsibility to assist in job creation by providing access to training, counseling and mentoring to help veterans embrace their entrepreneurial spirit and grow a small business.”

The SBA’s Boots to Business- ReBoot program is tailored for veterans who have already transitioned to civilian life, but have decided to pursue entrepreneurship.”

Another alternative is a business incubator, such as the Bunker. This program has been built by veteran entrepreneurs for veteran entrepreneurs. The Bunker targets existing veteran owned tech startups and aspiring entrepreneurs to come, create, and conquer the business world through their ideas, hard work, and strategy.

Perhaps one of these strategies will help you start up your business, or take your existing business to the next level.

VET-FORCE-Veterans-Entrepreneurship-Taskforce

Veterans Small Business Forum


Tuesday, July 21, 2015


10 am – 12 pm

hosted by


VA Office of Small Business Programs

810 Vermont Avenue, N.W.

Room C-7

Washington, D.C.  20420

(You must register by July 19th)

 

Join us for an indepth discussion on Doing Business with the VA for Veteran and Service Disabled Veteran Owned Businesses and other Small Business Contractors following recent allegations made by a VA Senior Procurement Executive that: (1) Over the past 5 years, some VA acquisition and finance officials participated in gross mismanagement and violations of law resulting in billions of dollars being misappropriated; (2) There has been illegal use of Government Purchase Cards in nearly every major organization in VA; (3) There has been illegal use of Federal Supply Schedules; and (4) VA small business goal accomplishments have been and continue to be vastly overstated. 
 
These allegations were recently discussed during a public Joint Hearing of the House Veterans Affairs Subcommittee on Investigations & Oversight and the House Small Business Subcommittee entitled:

‘Manipulation & Fraud in the Reporting of VA Small Business Goals’





held Tuesday, June 23rd in the Cannon House Office Building.

 

 

The Cannon House Office Building, completed in 1908, is the oldest congressional office building as well as a significant example of the Beaux Arts style of architecture. 

Jan Frye, the VA Senior Procurement Executive making these allegations, first testified on May 12th at a hearing held by the House Veterans Affairs Committee on Waste, Fraud and Abuse in VA’s Purchase Card Program and submitted a 35-page Memo to VA Secretary Bob McDonald that was made public a few weeks ago and published by the Washington Post and VetLikeMe.
 
 
 
Accordingly, Jan Frye is now designated as an Official Whistleblower, and from among the highest levels of procurement officers at the VA. Congress wants to know the facts and after years of advocating for increased opportunities for veteran business owners; especially at the VA, we want to know the truth of these allegations and if true, what is going to be done to hold those involved accountable.
 
Proposed Agenda:
 
(1)  Greetings and Remarks from Tom Leney, Director of VA Small Business Programs;
(2)  Presentation by the VA Secretary’s MyVA Transformation Executive Leadership Team
(3)  Continuing Issues with the VA’s Verification of Veteran Small Businesses by CVE
(4)  Presentation by the Director of the new SBA Veterans Business Outreach Center in Springfield, Va.
(5)  Open Discussion

ANNOUNCEMENTS

Veterans Small Business Forum


Tuesday, July 21, 2015


10 am – 12 pm

hosted by


VA Office of Small Business Programs

810 Vermont Avenue, N.W.

Room C-7

Washington, D.C.  20420


Save the Date!

Leave No Veteran Behind
Veterans Employment Opportunity Fair & Expo
 
Atlanta International Convention Center
 
September 14, 2015
 
For More Information Contact:
 
Rhonda Smith
(202) 822-0011
RhondaSmith@VetsGroup.org
 
 
Joe Wynn
Vets Group
(202) 365-0482
 
 

They Stood Up for Us 

Now it’s Time to Stand Up for Them

Supporting Veterans Organizations

startupent

By Debbie Gregory.

There are three definitive words that come into play when understanding why service members and veterans make great entrepreneurs: desire, drive and determination. Of course, investing in veterans and active duty military personnel is a great way to give back to those who have served. But military experience helps prepare would-be-entrepreneurs for business battles as well.

Some of the top “takeaways” from military service include:

Team building: In business, a team is only as strong as its weakest player.

Mission-planning: In business, planning is critical, and so is having contingencies for every possible scenario.

Leadership: From dealing with adversity to problem solving and motivating those around you, leaders are key in the success of both military operations and businesses. ”

Risk Management: Managing risk in the entrepreneurial sense seldom includes life and limb, but running a business carries with it a fair amount of financial and other risks. Far too many entrepreneurs are risk averse, so they are never able to capitalize on the rewards of taking a calculated risk. The military does a pretty good job of teaching its leaders how to evaluate risk and capitalize on opportunities.

Grace Under Pressure: Leading a small business that is often underfunded and understaffed requires business leaders to deal with the stress and pressure of wearing multiple hats.

Working With Limited Resources: Small business owners must deal with this challenge on a regular basis. The ability to prioritize initiatives and tackle those that offer the greatest possibility of success is an invaluable talent that can’t be ignored when money and resources are stretched thin. Almost anyone could successfully run a business if they has unlimited resources.

So, whether you are a former veteran considering entrepreneurship or an investor thinking of investing in a new veteran-owned business, know that those who have served their country have many of the qualities needed for business success.

ohio

By Debbie Gregory.

There are a number of states that have laws or executive orders that aim to assist Veteran owned businesses. Some states, such as California and New York, require a percentage of state contracts be set aside for businesses owned by service-disabled veterans.

Ohio lawmakers are currently considering a bill to provide a bid preference of 5 percent or $5,000 to Veteran-owned businesses competing for state contracts.

State Rep. Niraj Antani, the Republican joint sponsor of the bipartisan bill, rightfully feels that Veterans deserve a preference for having served their country.
“It’s our moral obligation to do what we can to help them,” Antani said.

The bill has had its first hearing before the House Ways and Means Committee. It will require at least one more hearing before a committee vote can be made on sending it to the full House.

According to a 2007 U.S. Census Bureau survey, there are more than 88,000 Veteran-owned businesses in Ohio and 2.4 million nationally.

The Ohio Small Business Development Center at Wright State focuses on the Veteran business community by helping Veterans learn about entrepreneurial opportunities.  They also assist Veterans by providing resources and contact information for employment options and other veteran related services.

It is widely accepted that skills such as leadership and discipline gained through military training make Veterans great entrepreneurs.

“Veterans are a cornerstone of small business ownership,” said Barbara Carson, acting associate administrator of the U.S. Small Business Administration’s Office of Veterans Business Development. She added that Veteran business owners have helped build one of the longest periods of economic growth in U.S. history, following World War II.

Bidding preferences and set-asides for Veterans have sometimes drawn opposition from minority- and women-owned business groups concerned that adding Veterans might dilute their opportunities and slow some efforts. But most Americans will agree that the Veteran set-asides are an earned right for service to our country.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business CoachingContracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

VAMBOA: Hats off to Ohio Lawmakers: By Debbie Gregory