National Veterans Small Business Week celebrates veteran business owners

For the last seven years, the first week of November has marked National Veterans Small Business Week (NVSBW). This is a great recognition of those who have served our country and now operate their own small business. But the honor shouldn't stop after the week is over.

Background

NVSBW was first appreciated in 2013 to help connect the members of the veteran-owned small business community and to provide a way to spotlight their hard work. This week is recognized annually by the U.S. Small Business Administration (SBA) to "celebrate, connect and empower service members, veterans, National Guard and Reserve members and military spouses."

Every year, the President of the United States delivers a message about the importance of this week and thanks our veterans. This year, President Donald Trump highlighted how military and veteran business owners fuel the American Dream and are an inspiration for others, according to the White House.

2020's highlights

The theme for 2020's NVSBW was #VetBiz – Resources in Your Local Community. This drew attention to all of the local resources that exist for veteran and military small business owners. There are both free and low-cost entrepreneurial options, including Veteran Business Outreach Centers in many communities.

The U.S. SBA hosted many events to honor the week, mostly online. These events provide key business insights and tips for small business owners and are free of cost.

Veteran and military-owned small businesses

All across the country, there are many successful veteran and military-owned small businesses. The SBA has an entire branch dedicated to helping promote these businesses, called the Office of Veterans Business Development (OVBD). Specifically, they offer funding through a Lender Match tool and The Military Reservist Economic Injury Disaster Loan Program (MREIDL). They also provide entrepreneurship training programs for veterans, helping to train them on best business practices.

The U.S. SBA has other branches specifically to assist businesses run by specific groups and minorities — these include women-owned businesses, LGBTQ+-owned businesses, rural businesses and more.

Recognizing veteran-owned small businesses year-round

It's important to remember that while the first week of November specifically recognizes military and veteran-owned small businesses, they should be honored every week of the year. If you're a veteran who's thinking of starting a new business but in need some legal advice, contact the Law Offices of Donald W. Hudspeth, P.C. We assist businesses with corporate matters and various other types of legal concerns. Please call 866-696-2033 or contact us online.

Categorised in: Starting a Business in Arizona

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