As we commemorate National Veterans Small Business Week, the Toledo Regional Chamber of Commerce honors the unique contributions of veteran entrepreneurs and their journey from service to startup.
For many veterans, the transition to business ownership is a natural extension of their dedication, leadership, and problem-solving skills honed during military service. At TRCC, we are committed to supporting these talented entrepreneurs as they build and grow their businesses.
Read on for key steps for veterans to consider when starting or expanding their businesses.
For many veterans, the transition to business ownership is a natural extension of their dedication, leadership, and problem-solving skills honed during military service. At TRCC, we are committed to supporting these talented entrepreneurs as they build and grow their businesses.
Read on for key steps for veterans to consider when starting or expanding their businesses.
At TRCC, we are committed to supporting these talented entrepreneurs as they build and grow their businesses, offering resources like the Small Business Development Center (SBDC) and the Minority Business Assistance Center (MBAC) to help them along the way.
Here are some key steps for veterans to consider when starting or expanding their businesses.
Step 1: Develop Your Business Idea and Plan
Transitioning to entrepreneurship begins with a solid business idea and a comprehensive plan. Veterans have already demonstrated strong decision-making and organizational skills—essential qualities for business ownership. Begin by identifying an area you’re passionate about and researching the market. The SBDC at TRCC can provide invaluable support here, offering guidance on drafting business plans, market research, and identifying target audiences. A clear plan not only helps you stay focused but also proves essential when seeking financing.
Step 2: Explore Funding Options for Veteran-Owned Businesses
Securing capital can be one of the most challenging steps for any startup, and veteran-owned businesses are no exception. Thankfully, there are several financial resources and funding opportunities specifically tailored for veterans. The U.S. Small Business Administration (SBA) offers valuable resources, including the Veteran’s Advantage Loan Program, which provides reduced fees for certain SBA loans.
Additionally, the SBA Express Loan and the Military Reservist Loan Program are designed to meet the specific financial needs of veteran entrepreneurs.
The TRCC SBDC is here to help you understand these options and guide you through the application process. Our team can connect you with lenders who understand the unique needs of veterans and provide personalized advice to strengthen your financial standing.
In addition to SBA programs, veterans may also explore grants and programs like the HIRE Vets Medallion Program, which incentivizes businesses that hire and retain veterans, potentially providing tax credits and other financial benefits to veteran-owned businesses.
Step 3: Obtain Certification as a Veteran-Owned Business
Certification as a veteran-owned business can unlock access to exclusive contracting and funding opportunities at federal, state, and local levels. Programs such as the VA’s Veteran-Owned Small Business (VOSB) and Service-Disabled Veteran-Owned Small Business (SDVOSB) certifications open doors to contracts with the Department of Veterans Affairs and other government agencies, giving certified businesses a competitive edge in the bidding process.
The Minority Business Assistance Center (MBAC) at TRCC is an essential resource for veterans navigating the certification process. MBAC offers free support for certification applications and can help connect veterans with local and state opportunities that favor veteran-owned businesses.
Certification doesn’t just open doors; it also positions your business within a supportive network that includes other certified businesses and veteran-friendly organizations.
Step 4: Build a Network and Access Mentorship
Networking can play a critical role in a business’s growth. Many veterans experience a sense of isolation as they transition from military service to civilian life, but a strong professional network can offer camaraderie, mentorship, and opportunities for collaboration. Programs like the Boots to Business program through the SBA and networking opportunities at TRCC events provide a platform for veterans to connect with other local business owners, potential clients, and mentors who understand their journey.
Step 5: Utilize Business Development Resources
The TRCC SBDC and MBAC offer comprehensive business development resources for veterans at every stage of their entrepreneurial journey. From one-on-one consulting to business planning and strategy, our goal is to support veterans in building sustainable and successful businesses. We encourage veterans to reach out and make the most of these services, designed to help navigate the challenges of entrepreneurship.
Celebrating Veteran-Owned Businesses During National Veterans Small Business Week
National Veterans Small Business Week is a time to recognize the extraordinary contributions of veteran entrepreneurs and the support they receive from communities nationwide. At TRCC, we are honored to be part of this journey, providing guidance, mentorship, and resources to empower our veteran business community.
If you are a veteran ready to start or expand your business, don’t hesitate to reach out to the Small Business Development Center or Minority Business Assistance Center. Our team is here to help you transform your military skills into entrepreneurial success. Learn more about how we can support you by visiting TRCC’s Small Business Development Center and Minority Business Assistance Center.
Here are some key steps for veterans to consider when starting or expanding their businesses.
Step 1: Develop Your Business Idea and Plan
Transitioning to entrepreneurship begins with a solid business idea and a comprehensive plan. Veterans have already demonstrated strong decision-making and organizational skills—essential qualities for business ownership. Begin by identifying an area you’re passionate about and researching the market. The SBDC at TRCC can provide invaluable support here, offering guidance on drafting business plans, market research, and identifying target audiences. A clear plan not only helps you stay focused but also proves essential when seeking financing.
Step 2: Explore Funding Options for Veteran-Owned Businesses
Securing capital can be one of the most challenging steps for any startup, and veteran-owned businesses are no exception. Thankfully, there are several financial resources and funding opportunities specifically tailored for veterans. The U.S. Small Business Administration (SBA) offers valuable resources, including the Veteran’s Advantage Loan Program, which provides reduced fees for certain SBA loans.
Additionally, the SBA Express Loan and the Military Reservist Loan Program are designed to meet the specific financial needs of veteran entrepreneurs.
The TRCC SBDC is here to help you understand these options and guide you through the application process. Our team can connect you with lenders who understand the unique needs of veterans and provide personalized advice to strengthen your financial standing.
In addition to SBA programs, veterans may also explore grants and programs like the HIRE Vets Medallion Program, which incentivizes businesses that hire and retain veterans, potentially providing tax credits and other financial benefits to veteran-owned businesses.
Step 3: Obtain Certification as a Veteran-Owned Business
Certification as a veteran-owned business can unlock access to exclusive contracting and funding opportunities at federal, state, and local levels. Programs such as the VA’s Veteran-Owned Small Business (VOSB) and Service-Disabled Veteran-Owned Small Business (SDVOSB) certifications open doors to contracts with the Department of Veterans Affairs and other government agencies, giving certified businesses a competitive edge in the bidding process.
The Minority Business Assistance Center (MBAC) at TRCC is an essential resource for veterans navigating the certification process. MBAC offers free support for certification applications and can help connect veterans with local and state opportunities that favor veteran-owned businesses.
Certification doesn’t just open doors; it also positions your business within a supportive network that includes other certified businesses and veteran-friendly organizations.
Step 4: Build a Network and Access Mentorship
Networking can play a critical role in a business’s growth. Many veterans experience a sense of isolation as they transition from military service to civilian life, but a strong professional network can offer camaraderie, mentorship, and opportunities for collaboration. Programs like the Boots to Business program through the SBA and networking opportunities at TRCC events provide a platform for veterans to connect with other local business owners, potential clients, and mentors who understand their journey.
Step 5: Utilize Business Development Resources
The TRCC SBDC and MBAC offer comprehensive business development resources for veterans at every stage of their entrepreneurial journey. From one-on-one consulting to business planning and strategy, our goal is to support veterans in building sustainable and successful businesses. We encourage veterans to reach out and make the most of these services, designed to help navigate the challenges of entrepreneurship.
Celebrating Veteran-Owned Businesses During National Veterans Small Business Week
National Veterans Small Business Week is a time to recognize the extraordinary contributions of veteran entrepreneurs and the support they receive from communities nationwide. At TRCC, we are honored to be part of this journey, providing guidance, mentorship, and resources to empower our veteran business community.
If you are a veteran ready to start or expand your business, don’t hesitate to reach out to the Small Business Development Center or Minority Business Assistance Center. Our team is here to help you transform your military skills into entrepreneurial success. Learn more about how we can support you by visiting TRCC’s Small Business Development Center and Minority Business Assistance Center.
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