Government contracting for veteran owned businesses can be a valuable resource for veterans looking to start their own businesses. It is important to understand the positive aspects of government contracts when reviewing options for a veteran business or a service disabled veteran owned business because it may save money and time. It is especially important to review veteran business qualifications as you consider government contracts to ensure you meet all necessary guidelines for veteran-owned business status. Government contracting can not only benefit veteran diversity in the work place, but it can help make your veteran business much more successful in the long run.
For starters, you can generally count on government contracts for veteran owned businesses to be available because unlike normal businesses affected by the economy, the government is never out of business. Therefore, government contracting can be a reliable source of income for a veteran owned business looking to stay afloat in tough times. Don’t be disheartened by talk of government downsizing and strict budgeting. There is plenty of money to be spent and veterans looking to increase veteran diversity by investing in a veteran owned business or service disabled veteran owned business have a good chance at getting to that money first.
There are disbelievers out there that say government contracting is a long shot for small or disadvantaged businesses but that is not true. Due to decreased and simplified paperwork and a government program called the Very Small Business Program, a veteran owned business, service disabled veteran owned businesses and other veteran businesses have access to government contracts and, more specifically, government contracts for veteran owned businesses. Pending adherence to veteran business qualifications, veterans have the ability to do business with government contracts that can help build veteran diversity as well as increase revenues and create strong foundations for a struggling veteran business and new veteran owned businesses.
In order to be considered for government contracts for veteran owned businesses, veterans must first meet veteran business qualifications and then complete all the necessary paperwork to apply for government contracting. By meeting the veteran business qualifications, veterans are confirming that at least 51% of their business is owned by a veteran(s), including at least 51% of the stock holdings, and the daily management is performed by one or more veterans. Service disabled veteran owned business status includes the previous stipulations, including the veteran(s) to have been disabled due to his or her service. These qualifications are in place to protect veteran diversity in the workplace.
Upon meeting these qualifications and filing the proper request forms, a veteran business can then pursue government contracts for veteran owned businesses.