The VBOC, or the Veterans Business Outreach Center, offers resources to veterans, service members, and spouses of military personnel who are interested in starting their businesses. The program is designed to offer entrepreneurial developmental services such as business training, partner referrals, business counseling, etc, to the veterans, service members, and family members who are interested in either starting or growing their businesses.
How does the VBOC program help the small business?
The Veterans Business Outreach Center assists small businesses in several ways. The VBOC from the Small Business Administration offers counseling, training, and mentorship opportunities available in the locality. The VBOCs also help small business owners navigate the extensive resource partner network of the small business administration. Through this, it is possible to refer the program to a lender or community partner. Other ways by which the VBOC program helps small businesses are as follows.
Transition assistance programs:
The Veterans Business Outreach Centers will work in close liaison with the SBA district offices and the transition service managers to conduct business classes for both the service members and the spouses of military personnel. The VBOCs will also conduct the business-to-business reboot classes for veterans of all periods, along with the National Guard and Reserve members and the spouses of military personnel.
Pre-Business Plan Workshops:
The VBOCs also conduct entrepreneurial development workshops at all levels for those dealing specifically with the issues of self-employment. The important segment of these workshops is that they make use of the internet as a potential tool for improving the business. With the help of these workshops, the clients are offered opportunities to work with the business counselor directly.
Mentorship:
The VBOCs also conduct appropriate on-site visits with the clients and ensure their adherence to the business plans. They also will review the monthly financial statements and determine the requirements for the revision of the business plan. They will also review if the business was able to attain its desired results.
Training and counseling on entrepreneurship:
The VBOCs will work with the other resource partners of the Small Business Administration to offer entrepreneurial training projects and counseling sessions that are tailored to address the needs and concerns of the veteran entrepreneurial community specifically. This community might also include women veterans, veterans who are interested in project procurement, and veterans who are service disabled.
Feasibility analysis:
The Veterans Business Outreach Centers will offer assistance for businesses to identify and analyze the strengths and the weaknesses of the business plan to help enhance their quantum of success. The results of these analyses are also used to plan the strategic planning of the business plan and also to revise it.
Apart from these areas, it also offers training and assistance in other areas such as International trade, internet marketing, accounting, franchising, etc.
How can veteran-owned businesses get approval from the SBA?
To be qualified as a veteran-owned business, small businesses need to get approval from the SBA. To get this certification, it is mandatory to fulfill the following requirements.
- To be considered a small business, it corresponds to the size recommendations given by the NAICS. The business code should be listed in the business profile of the federal system for award management for small businesses.
- About 51% of the business should be owned or controlled by one or more veterans whose military service can be confirmed by the VA.
The VBOC program has been designed to offer entrepreneurial development services for the veterans and their spouses to start and grow their small businesses. Retired or disabled veterans and their family members can take advantage of this program and grow their entrepreneurship.