Interested in attracting new clients to your small business? Government contracting can provide access to millions of dollars worth of new business, but securing a contract can be difficult. However, if you’ve served in the military or incurred a service-related disability, you are usually eligible for a certification that will allow you to receive up to 3 percent of prime federal government contracts and subcontracts, according to The Veterans Entrepreneurship and Small Business Development Act of 1999.
Even if you’re not interested in working with the government, research by the National Veteran Owned Business Association (NaVOBA) shows that 70 percent of Americans would prefer to do business with a veteran-owned business over one that is not veteran-owned. Advertising that you have achieved “veteran-owned business” status may be all you need to attract new business.
However, registering as a veteran-owned or service-disabled veteran-owned business is not as cut and dry as other minority-related businesses. Aside from the Veterans Affairs office, there’s no single government body or third-party operation you can turn to to receive your certification. Therefore, it makes a lot of sense to consult an expert, like PK Boston, to help you get up and running quickly.
“Veteran-Owned Small Business”: (i) is at least 51% unconditionally owned by one or more veterans (as defined at 38 U.S.C. 101(2)); or in the case of any publicly owned business, at least 51% of the stock of which is unconditionally owned by one or more veterans; and (ii) whose management and daily business operations are controlled by one or more veterans.
“Service-Disabled Veteran-Owned Small Business” means a small business that: (i) is at least 51% unconditionally owned by one or more service-disabled veterans (as defined at 38 U.S.C. 101(2), with a disability that is service connected, as defined in 38 U.S.C. 101(16)); or in the case of any publicly owned business, at least 51% of the stock of which is unconditionally owned by one or more service-disabled veterans; and (ii) whose management and daily business operations are controlled by one or more service-disabled veterans or, in the case of a veteran with permanent and severe disability, the spouse or permanent caregiver of such veteran.