Veteran’s Designation

On today’s National Holiday, Veteran’s Day, it is a good time to review veteran-owned businesses.

If at all possible, it is always the right thing to patronize a Veteran-Owned Business Enterprise. This is a firm which is at least 51% owned and operated by a Veteran. The acronym used is usually VBE. If you see this acronym, likely a Veteran owns it. Often displayed in office windows or on business cards, it is a clear sign to thank the owner for their service.

The other acronyms you should be aware of are VOSB or SDVOSB. The former stands for Veteran-Owned Small Business and the latter is a federal designation for Service Disabled Veteran-Owned Small Business. This designation requires the owner to be service disabled and must also own 51% or more while being the primary operator. Benefits of this designation usually include access to government contracts and free training programs. Certain federal jobs may require a pre-determined percentage of the project be awarded to SDVOSBs.

The SBA (Small Business Administration) administers the federal certification programs for Veterans. Using its Small Business Development Center (SBDC) will ensure the benefits are properly explained. Most larger cities have a regional SBA officer and at least one SBDC. If you are a veteran, meeting with them before you open your company could potentially help you win business in the future.

If you are a veteran and seeking to start up a business, be sure to research the benefits of being certified as a Veteran-Owned Business. If you wish to thank a veteran for their service and are able to buy from or source from a veteran-owned business, please do. And to all veterans reading this blog, thank you for your service!

Be well.