Here are five tips and resources to help veteran entrepreneurs start, grow and succeed in business:
1. Qualities that make veterans good business owners: Approximately 2.5 million veteran-owned businesses in America represent 9.1% of all U.S. businesses. A cognitive framework and worldly experience obtained through military service create successful business owners who are innovative, adaptable and decisive!
2. How you can test a business idea: Do your homework. Conduct the proper market research. Share your business idea with family, friends, colleagues and mentors. Identify all the reasons why the business won’t work and then seek solutions to the challenges.
3. What are some things to consider when choosing the right business structure: Take advantages of the resources offered by the SBA’s Veterans Business Outreach Centers (VBOC) and Service Corps of Retired Executives (SCORE) programs.
4. Tips to help veterans prepare when seeking to access capital: Contact the Department of Veterans Affairs and SBA. They have several assistance programs available to help you navigate your options and select what is right for you
5. Do your research: Expand your network. Attend outreach, seminars, and symposiums to make valuable connections and learn more about the business.
Interested in Franchising?
Join MOAA at The Great American Franchise Expo for an exclusive “Exploring Franchise Ownership as a Career Path for Veterans” on Saturday, Oct. 5, 2019 at 11:30 a.m. at the Dulles Expo Center in Chantilly, Va. This panel session is designed for transitioning servicemembers and veterans to learn more and get trusted information and advice regrading the business of Franchising. Attendees can:
- Learn the basics of Franchising.
- Hear from veterans on how their military experience has shaped their success.
- Discover financing opportunities for those who have served.