Boots to Business is an introduction to starting a business for veterans and transitioning military. The entrepreneurial education and training program is offered by the U.S. Small Business Administration (SBA) as part of the Department of Defense’s Transition Assistance Program (TAP).

Speaking at a recent “Boots to Business” boot camp, James Williams, the lead economic development specialist for the Richmond, Virginia District Office of the SBA, told the story about a group of his peers who sold sandwiches to pay for college tuition.

“We laughed at them,” he said. “Fast forward to today — they’re called Subway.”

“Boots to Business” is part of a push to better prepare troops for life after the military and improve TAP, the target of many a veteran’s distain for what has previously been considered to be a superficial approach to transition. Formerly aimed only at troops close to separation, the program was recently opened to all veterans and troops, regardless of how much time they have left in the service.

Williams said that “Boots to Business” serves as a reality check about the very difficult road ahead for anyone starting a business. He added that the structure and discipline troops learn while in the armed forces serves them well in business, but that there’s often an adjustment to leaving the military bubble, with its free health care, readily available services and housing stipends.

“One of the big hurdles is becoming acclimated to civilian life again,” he said. “They have been in a protected kind of life, separated from the general population — some of them have separation anxiety.”

“What we’re really looking to do is give them a vehicle by which they can think about, ‘What is the feasibility of my dream?’ ” he added. “In the end, if you decide, ‘This isn’t for me,’ that’s still a success.”

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

Boots to Business: VAMBOA: By Debbie Gregory

By Debbie Gregory.

Starting a business involves planning, making key financial decisions, and completing a series of legal activities. But for many Veterans, transitioning from service member to CEO may be a more natural path than they might have imagined.

Most experts agree that the two biggest components for Veterans preparing to start their own businesses are choosing the right kind of business for them, and securing capital. They also recommended that aspiring business owners take time to think about where their passion lies.

VetFran Manager George Eldridge encourages Veterans interested in business ownership to do their research and examine all possibilities.

“In the military you think, ‘I can’t fail,’ but sometimes you have to think about the risks you’re getting into and have a balanced expectation when getting into something like this,” he said.

Veterans who are considering franchise ownership may want to start by surfing VetFran’s website. With more than 100 different franchise industries to peruse, there is something for every interest. The most popular franchises are in the food industry, followed by hospitality, home-based businesses, child care and pet care.

Although VetFran does not offer funding, it connects Veterans with funding assistance by working closely with the SBA and lenders within its supplier group.

The SBA offers a checklist for Veterans interested in starting a business. It suggests starting with a business plan, which is like a roadmap to determine your starting point, where you are going, and how to arrive at success through proper planning, preparation and management. The checklist also covers things like licenses, tax ID numbers, taxes, finance, location, etc.

Financing opportunities are plentiful for Veterans. The SBA, through its 68 field offices around the U.S. and 1,000 resource partners, has Veterans Business Outreach Centers around the country offering information on how to gain access to capital.

For Veteran-specific programs, the SBA helps businesses obtain reduced loan fees for any loan under $350,000.

Leveraging Information and Networks to Access Capital (LINC) is an online tool that connects loan seekers and lenders. By answering just a few questions, applicants can reach out to lenders all over the country.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

VAMBOA: Ready to Start Your Own Business?: By Debbie Gregory

By Debbie Gregory.

It is expected that over the next three to five years, more than 250, 000 service members are expected to separate from the service each year. These Veterans will face stiff competition in the job market, as well as a consistently higher unemployment rate than their non-veteran peers. With unique work and leadership experiences and a tradition of hard work and resiliency, these Veterans will look for alternative options to provide for their families. Economists contend that self-employment will help stimulate our struggling economy. With an abundance of opportunities provided to them by federal, state and local programs, combined with the desire to work for themselves after their service, many Veterans will seek out entrepreneurial ventures. For these Veteran Entrepreneurs to be successful, in addition to the leadership skills and drive that they developed in the military, they will need to acquire the knowledge necessary to run a business. One of the most effective programs for Veterans launching their own businesses is the Boots to Business program. Boots to Business is an entrepreneurial education program offered by the U.S. Small Business Administration (SBA). This program is an elective track within the Defense Department’s revised Transition Assistance Program called Transition Goals, Plans, Success (Transition GPS).  The course is offered in three parts. The first part, the Entrepreneurship Track Overview, is an introductory video shown during the mandatory five day Transition GPS course. The second part is a two day classroom course called Introduction to Entrepreneurship. The third part is an eight week instructor led, online course called Foundations of Entrepreneurship. This section offers detailed instruction on the elements of a business plan, and tips and techniques for starting a business.

The Boots to Business curriculum provides indispensable knowledge to transitioning service members who are interested in exploring self-employment opportunities. The program guides soon-to-be Veteran Entrepreneurs through the stages of business ownership, including evaluating business concepts and developing a business plan. Participants in the Boots to Business program are also introduced to the SBA resources that they can use to access startup capital and much more.

Having a sound business plan is critical to getting the startup capital and other lending approved. The Boots to Business program will help Veteran entrepreneurs develop and implement a business plan that will raise their chances of obtaining the funding to get their businesses off the ground.

The best part of the Boots to Business program is that it is available free of charge at participating military installations to service members who are retiring or otherwise transitioning from the service, as well as their spouses.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!

VAMBOA: What Boots to Business Does for Veterans: By Debbie Gregory

By Debbie Gregory.

A 2015 job report is giving Americans a reason to be optimistic, as American businesses added a 252,000 jobs in December, 2014, and unemployment dropped to its lowest rate since June, 2008. Our country is currently riding the wave of 58 consecutive months of job growth (the longest such streak since the mid-1990’s), and we have small business owners to thank.

In 2014, small businesses created nearly 2 million of the approximately 3 million private-sector jobs. And more than 7 million out of the 11 million jobs created during our nation’s recovery have been generated by startups and small enterprises.

One industry that is showing considerable promise is computer systems design, which now employs 1.8 million Americans, 25% more than before 2008.

December’s job report is representative of the turnaround to our nation’s ongoing employment picture:

• 73% of December 2014’s job growth came from small businesses
• Twice as many small businesses expanded the number of jobs to their workforce as cut them.

Along with their job expansion, a recent report from the National Federation of Independent Business (NFIB) also found that small business revenues are on the rise. And American manufacturing is undergoing its best period of job growth since the 1990s. The U.S. auto industry has created nearly a half-million new jobs in the last five years.

Entrepreneurs and small businesses have been instrumental to our country’s ability to weather this economic storm. The economic turnaround has been due, inpart, to the many successes of small businesses, and their ability to survive and thrive through the worst economic crisis since the Great Depression.

The U.S. Small Business Administration (SBA) has played and continues to play a crucial role in the economic turnaround. While the success of small business owners is partially the result of their planning, hard work and dedication, their success can also be attributed the utilization of SBA programs and resources. Commercial small business lending is still only at 91% of the pre-recession level, but SBA-backed lending has now eclipsed its pre-recession output. Small business borrowers have received $163 billion in SBA-supported capital since 2009.

Economists and entrepreneurs should have reason to believe that 2015 will be a great year for small business growth. Consumer confidence is at a seven year high, the economy has added at least 200,000 jobs for the last 11 months in a row, and hiring is at levels we haven’t seen in years.

Now is the time to frequent www.VAMBOA.org and www.SBA.gov and find the resources you need to help your business thrive.

The Veteran and Military Business Owners Association (VAMBOA) is a non-profit business trade association that promotes and assists Veteran Business Owners, Service Disabled Veteran Owned Businesses (SDVOB) and Military Business Owners. Small businesses are the backbone of our economy and responsible for job generation. That is why VAMBOA provides its members with Business Coaching, Contracting Opportunities, a Blog that provides information, Networking contacts and other resources. Membership is FREE to Veterans. Join Now!