Growth Strategies for Veteran Entrepreneurs

Whether you’re just starting out, or have been in business for some time, there are many growth strategies that you can use to help you reach your goals. These include finding the right funding, developing a strong market, and earning certification as a veteran-owned business.

Self-funding

Despite all the buzz about venture capital and angel investors, veterans can actually generate funds for their new endeavor. In fact, more than 2.5 million businesses in the United States are owned by veterans. A good way to start is by considering the myriad federal and state government grant programs available to veterans.

Although the small business administration (SBA) is the best place to start, many veterans will find that their local Chamber of Commerce can provide them with the information they need. Some veterans may also need to register with state and federal agencies, which can be a daunting task. Fortunately, the SBA has a free online referral tool called Lender Match that connects emerging business owners with participating SBA-approved lenders.

The small business administration has a number of grants and loans for veterans, and they can be found in a number of different formats. Some of the more common funding opportunities include loans, investment capital, and loans for veteran-owned businesses.

Market development

Whether you are a veteran or a civilian looking to start a business, there are many resources available to help you make the most of your entrepreneurial opportunities. One such resource is the Veteran Entrepreneurship Portal. This resource from the Department of Veterans Affairs helps veterans in all stages of their business, from start-up to growth. It contains an extensive directory of free business resources for veterans. It also has interactive tools and information to help you start your business.

Another resource is the Veterans Business Fund, which is an independent, nonprofit organization that offers loans and grants to veteran entrepreneurs. They also provide business advisory services, mentoring and training in areas such as franchising, international trade and accounting. They are not currently accepting new applications.

Grants

Whether you’re starting a new business or expanding an existing business, grants as growth strategies for veteran entrepreneurs can be an effective way to increase your revenue. There are several federal agencies that provide military entrepreneurs with assistance in accessing small business grants for veterans. These resources can help you understand the grants available, as well as find the right funding source for your business.

One program that provides training and funding opportunities for veteran small businesses is Boots to Business. This program provides a free, two-step training program. It includes an introduction to entrepreneurship and a eight-week online course.

Another resource for veteran entrepreneurs is the Veteran Entrepreneur Portal. The portal connects veterans with federal funding programs and training opportunities. It also provides a database of state and local financing programs.

Certification as a veteran-owned business

Getting certified as a veteran-owned business is a great strategy to increase your odds of success in the startup business world. You may be able to take advantage of special loans or access to government contracts.

Obtaining a certification may also be a good marketing tool to attract potential customers. In fact, there are many firms that offer veteran-owned business resources. The United States Small Business Administration, or SBA, runs outreach centers throughout the country. These centers offer mentoring, training, and business plan workshops to veteran entrepreneurs.

The Veteran Entrepreneur Portal, a part of the Small Business Administration, has a plethora of free information on entrepreneurship. It includes a directory of free business resources for veterans and details on how to start a business. It also has information on winning government contracts.

Phyllis Newhouse

Phyllis Newhouse is a serial entrepreneur and cybersecurity expert. Her career has been focused on building computer technologies for homeland security. She has served in leadership roles for the Department of Defense, including the special office for cyber security. She has also been a member of the Women Presidents’ Organization.

Newhouse is the founder of Xtreme Solutions, Inc. (XSI), an information technology services firm. The company’s revenues are more than $8 million. It has employees in 42 states. It is one of the fastest growing woman-led businesses in North America. The company was named one of the 50 fastest growing companies in the world by Inc. for the seventh consecutive year. It has also received the CRN “Top 500 Solutions Provider” designation.

Newhouse also serves on the board of directors for Girls Inc. and the Technology Association of Georgia. She is a member of the Business Executives for National Security and the Women Presidents’ Organization. In addition, she is a graduate of the Institute of Entrepreneurial Leadership program sponsored by John F. Kennedy University.