Transitioning from military service to entrepreneurship can be both rewarding and challenging. While your military experience equips you with resilience, venturing into business introduces new obstacles, especially in areas like sales and marketing. Fortunately, there are numerous tools, resources, networks, and mentorships available to support your success.
For veteran business owners, obtaining Veteran Small Business Certification (VetCert) is a crucial step. VetCert comes in various forms, such as veteran-owned small business, service-disabled veteran-owned small business, women veteran-owned small business, and economically disadvantaged veteran-owned small business, allowing for different combinations.
If you’re unfamiliar with these terms or questioning the value of certification, continue reading for insights.
Overview of Veteran Small Business Certification
Veteran Small Business Certification, commonly known as VetCert or Veteran-Owned Small Business Certification, serves as a crucial support for veterans transitioning into entrepreneurship. This certification offers veterans a competitive advantage when vying for federal contracts, proving to be a game-changer for those meeting the requisite criteria.
Significance of Veteran-Owned Small Business Certification:
- Federal Contracting Opportunities:
- The U.S. federal government allocates a specific percentage of contracts exclusively for veteran-owned businesses, ensuring fair participation and procurement benefits.
- The Department of Veterans Affairs (VA) specifically collaborates with VOSB-registered companies, and all federal or state government agencies prioritize bids from VOSBs.
- Corporate Contracts:
- Beyond government contracts, numerous corporations prioritize awarding contracts to veteran-owned businesses, recognizing the discipline, dedication, sacrifice, and skills veterans bring to the business landscape.
- Network and Support:
- VetCert opens doors to an extensive network of veteran entrepreneurs, workshops, and conferences, fostering continuous learning, growth, and support for businesses poised for high growth and innovation.
Subcategories Within VOSB:
While the primary VetCert provides substantial advantages, additional certifications within the federal decision-making process can be even more advantageous:
- Women Veteran-Owned Small Business:
- Addresses the unique challenges faced by female veterans, offering specific resources, opportunities, and additional prioritization on certain contracts.
- Service-Disabled Veteran Owned Small Business (SDVOSB):
- Honors service-disabled veterans, providing additional prioritization on specific contracts, with a legal mandate that 3% of all federal contracts be awarded to SDVOSBs.
Steps to Register as a Veteran-Owned Business:
- Verify Your Veteran Status:
- Confirm your service and discharge status using a Department of Defense Form 214.
- Determine Eligibility:
- Demonstrate that at least 51% of the business is owned by veterans, with veterans handling management and daily operations.
- Register Your Business:
- Obtain necessary licenses and permits, showcasing the legitimacy and readiness of your business.
- Apply for the Certification:
- Access the application on the U.S. Small Business Administration (SBA) website, following detailed instructions and submitting necessary forms.
- Await Verification:
- After submitting required documents, the Veteran’s Association will review your application, with the verification process taking a few months.
Optimizing Your Veteran-Owned Small Business Certification:
- Stay Updated:
- Regularly check federal and corporate contract listings to proactively identify and seize opportunities.
- Network:
- Engage with fellow business owners, as collaboration can lead to more significant contract opportunities, and shared experiences provide valuable insights.
- Continuous Learning:
- Attend workshops, seminars, and conferences tailored for veteran-owned businesses, staying informed about growth opportunities through insights shared by successful entrepreneurs.
Conclusion: Maximizing Business Opportunities with Certification
For veterans entering the small business realm, tools like the Veteran Small Business Certification provide a robust foundation. Whether a female veteran or part of the SDVOSB category, this certification recognizes and rewards dedication and sacrifices, significantly enhancing the chances of winning contracts from government agencies and corporations. FundGo stands ready to guide veterans through SBA loans and various aspects of their business journey, ensuring they make the most of their VetCert and beyond.