In honor of Veterans Day, here are three resources we’ve covered to help small businesses hire veterans and for veterans to become small business owners:
Are Ready to Hire a Hero?
It’s hard to believe, but by some estimates as many as 160,000 returning military veterans from Afghanistan and Iraq are unable to find jobs. Why wouldn’t employers want to hire former members of the military? Some worry that vets suffer from post-traumatic stress syndrome; others can’t figure out how veterans’ experience in the military can translate to a civilian job. Often, veterans have trouble communicating what makes them so valuable as employees.
To help overcome these challenges, in March 2011 the Chamber of Commerce launched a nationwide program, Hiring Our Heroes, to aid veterans, transitioning service members and military spouses in finding meaningful employment. Read more.
SBA Program Helps Veterans Get Loans
Military veterans will have an easier time getting business loans thanks to a new Small Business Administration program announced last week. The SBA Veteran Pledge Initiative has received pledges from more than 120 banks, including 20 major national banks and some 100 regional banks nationwide, to increase lending to veterans by 5 percent annually for the next 5 years.
The SBA says veterans often have difficulty getting loans. In the fiscal year ended September 30, the SBA backed more than 3,200 loans to veterans worth more than $1.25 billion. However, the new program is expected to help an additional 2,000 veterans get loans totaling $475 million over the life of the program, according to the SBA. Read more.
Best Franchises for Military Veterans
Are you a military veteran considering starting a business, or do you know a veteran seeking opportunity? As Memorial Day approaches, Victory Media’s 2013 Military Friendly Franchises® list helps veterans decide which franchises they should consider, which ones give them the best financial incentives and training, and which franchises have the highest number of veterans on board.
Comprising the top 10 percent of franchise concepts doing the most to recruit and train America’s veterans as business owners, franchises on the list range from restaurants to truck-based and home-based opportunities. The common bond is their shared priority of recruiting owner-operators with military experience. Read more.
And from the SBA:
Join us for National Veterans Small Business Week!
- Check out events in your area!
- Explore SBA’s resources for aspiring entrepreneurs!
- Learn how SBA can help you achieve your small business dreams!
Get to know the Boots to Business and Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE) progr