4 Ways to Expand your #VetBiz with SBA’S Resource Partner Network

Every business wants to see continued growth. However, it’s normal for entrepreneurs to feel “stuck” at some point in time. When this happens, business owners might consult experts with a fresh perspective to talk over different growth strategies. These critical connections help businesses reach a new level of success and accomplish growth goals.?

The U.S. Small Business Administration (SBA) enables access to a whole network of partners that can help veterans and military spouses bring their ideas to life and find the best resources. Here are four ways SBA’s resource partner network can help veterans with growing their small businesses in 2024:?

1. Embrace New Mentorship Opportunities?

No entrepreneur looking to start or grow a business can know every strategy. Sometimes, they might want to grow too quickly or not know about specific tools that would help them advance more sustainably. That’s why it’s important to look for advice from people who have experience helping businesses grow.?

One of the best ways SBA assists veterans and military spouses wanting to start or grow their business is by providing access to a network of mentors that can help them take their business to the next level. These mentors have years of business development experience which they use to help entrepreneurs craft the right business plan and provide advice during subsequent challenges.?

A few of SBA’s resource partner mentors include SCORE mentors, who are experts that provide area-specific advice to help grow a business, and Veteran Business Outreach Center (VBOC) mentors, who consult with veterans through every stage of their business journey.??

1. Connect with Veteran Business Outreach Centers?

While a highlight of SBA’s VBOC program is mentorship opportunities, VBOCs provide veteran and military spouse business owners with so much more. VBOCs work closely with SBA district offices, other SBA programs, and local resources to connect clients with the most valuable tools.?

VBOCs have regional business experts who understand the geographical environment in their area, enabling them to advise strategies and provide resources that work for veteran or military spouse business owners in that region.?

Veterans looking to start a business can utilize a VBOC’s connection to transition assistance programs, like Boots to Business, enroll in regional business plan workshops, and seek business idea assessments and advice. For established business owners, VBOCs provide continued growth opportunities like training, mentorship, and resources for marketing, accounting, international trade, and more.?

There are 28 VBOCs across the United States whose mission is to help veterans and military spouses grow their small business. Find your local VBOC here.?

1. Enroll in Trainings?

Participating in training is the best way to learn new business skills. SBA’s resource partner network offers courses like Boots to Business and the Pathway to Business courses, to assist aspiring entrepreneurs with building out a business plan. courses to help veterans and military spouses see if business ownership is the right step for them. Once they decide it is, the Boots to Business Revenue Readiness course, offered by Mississippi State University, empowers aspiring entrepreneurs to build out a business plan.?

The Entrepreneurship Training Program contains various SBA grantees with a specific mission of providing trainings for women veterans, service-disabled veterans, and veterans interested in federal procurement.??

If you think you would like to grow your business via government contracting, you can sign up for the?Veteran Federal Procurement Entrepreneurship Training Program (VFPETP), hosted by the National Veteran Institute for Procurement.?

1. Find Local Assistance?

After you consulted with your mentors or taken a training program, you may have decided to utilize other local options to differentiate your business and develop new strategies. Mentors are a great start, but SBA partners with other local resources that understand the regional factors that can accelerate your business.?

Those interested in expanding their business should contact their local Small Business Development Center (SBDC). SBDCs work closely with SBA to provide informational tools that any veteran or military spouse business owner can use – whether they are pre-revenue or looking to expand. As problem solving experts, SBDCs can show veterans how to access capital, assist in the development and exchange of new technology, and help increase management, productivity, and innovation. You can learn more about SBDCs here.?

Women veterans and military spouses interested in receiving local help can also reach out to Women’s Business Centers (WBC). SBA works with WBCs to assist women in starting and growing a small business and tackling the unique obstacles women entrepreneurs may face. WBCs can help women business owners by providing business counseling, federal contract assistance, and help accessing credit and capital. Find your local WBC here.?

For more information on SBA’s network of resource partners, follow the SBA’s Office of Veterans Business Development (OVBD) on?LinkedIn,?X (formerly Twitter), and?Facebook.?

This blog was originally written by the U.S. Small Business Administration’s Office of Veterans Business Development.?