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Small Business Services for Veterans: What You Need to Know

1 minute Read

small-business-services-for-veteransDid you know that veterans own or operate over 2.4 million businesses across the United States? But this fact, though impressive, doesn’t mean funding a small business comes easily to those who have served our country. Veterans who are looking to become their own boss, in fact, face real obstacles, such as a lack of collateral, gaps in their financial history or even an absence of credit.

But there are options for veterans looking to overcome financial challenges and fund their small business. Here are some helpful resources.

Veteran Entrepreneur Portal

The Veteran Entrepreneur Portal (VEP) is one of the best places for veterans to start when looking to open or expand a small business. The VEP connects veterans with resources, access to financing, franchise opportunities and various government agencies that serve small business owners.

Veterans Business Outreach Centers

Starting a small business involves a lot more than securing funding, so Veterans Business Outreach Centers provide mentorship, business development training and business counseling. With 16 centers across the country, this is a great place for those who prefer face-to-face meetings and guidance. Pre-business plan workshops, concept assessments and comprehensive feasibility analyses are just a few of the services they provide. Some centers also offer low or no-cost tuition.

Veterans Business Services

Veterans who are struggling to get started on launching a small business might seek resources from a private consulting company. Veterans Business Services is a consulting service that helps with everything from securing a small business loan to finding investors.

Other franchising opportunities

Several companies offer special franchising programs for veterans including UPS, 7-Eleven and Little Caesars:

  • UPS gives veterans a $10,000 discount off the franchise fee and 50-75 percent off the application fee.
  • 7-Eleven offers 20 percent off the franchise fee and other financing options.
  • Little Caesars offers $5,000 off the franchise fee, $5,000 off the first equipment order and additional marketing and supply services up to $30,000.
  • Papa John’s will waive the franchise fee, offer up to $50,000 in free equipment and $3,000 in food-purchase credit.
  • Great Clips will take $5,000 off the first-store franchise fee.

For more franchise opportunities, check out this article.

As a veteran, your determination to serve our country and defend our freedom makes you a great candidate to be a small business owner. For more resources on small business funding, visit cancapital.com.

Photo credit: www.BillionPhotos.com/shutterstock.com

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