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Six Small Business Startup Resources for Veterans

According to a Small Business Administration (SBA) report, veteran-owned firms represent 9.1 percent of all U.S. businesses. They employ more than five million people and have an annual payroll of $195 billion. Indeed, veteran entrepreneurs have a positive impact on our economy.

In efforts to support veteran entrepreneurs—the SBA, SCORE, and other organizations have developed resources targeted to veterans’ small business startup needs. In this post, we’ll highlight some of the websites, programs, and organizations available to help veterans launch and run their businesses successfully.

Resources for Veteran Business Owners

1. SCORE

In the “Resources for Veteran Entrepreneurs” section of the SCORE website, you’ll find webinars, blog posts, and articles that are focused on a broad range of topics. From funding to franchising to transitioning from a military career to entrepreneurship, there are ideas and information to help prepare veterans for business ownership.

SCORE Maine and other SCORE chapters across the nation offer workshops, roundtables, seminars, and other programs to help entrepreneurs start and run their businesses. All SCORE chapters also offer free mentoring, which can be especially helpful as veterans navigate the opportunities and challenges that come with starting and running a business.

2. SBA’s Office of Veterans Business Development

The OVBD works to maximize the “availability, applicability, and usability” of small business programs for veterans. The OVBD has a Veterans Business Outreach Center Program, designed to make business development services available locally across the United States. Veterans Business Outreach Centers provide services such as business workshops (e.g., Boots to Business), entrepreneurial counseling, business plan preparation, feasibility analyses, and mentorship.

The OVBD website also shares information about funding resources, veteran entrepreneurship training programs, and more.

In addition, the SBA has a program for service-disabled veteran-owned businesses that want to procure federal contracts. The Service-Disabled Veteran-owned Small Businesses program allows agencies to set aside contracts specifically for veteran-owned companies.

3. U.S. Department of Veterans Affairs Veteran Entrepreneur Portal

The Veteran Entrepreneur Portal gives access to various business tools and services. It links to websites and information with details about government programs and services created for veterans.

4.  National Veteran Small Business Coalition

The NVSBC is a non-profit trade association that advocates for policies that encourage veteran-owned businesses’ participation in federal contracting opportunities. Veterans that join the NVSBC gain access to resources and information to help them compete in the federal marketplace.

5. Veteran Women Igniting the Spirit of Entrepreneurship

V-Wise is an organization open to all women veterans, active-duty female service members, and partners of veterans and active service members. It offers entrepreneurial courses and resources in cities across the United States.

6. Entrepreneurship Bootcamp for Veterans with Disabilities

Developed by the EBV Foundation, this educational program is offered at various universities in the United States. It provides training in entrepreneurship and small business management to post-9/11 veterans with service-related disabilities. The EBV Foundation provides grants to graduates of the program, helps with business plan development, and provides other services to support disabled veterans in their entrepreneurial efforts.

Your First Step to Starting a Veteran-Owned Business

SCORE mentors have knowledge and experience in starting businesses in a broad range of industries. They can provide valuable insight to help you successfully launch your veteran-owned business. Make SCORE the first step in your journey to entrepreneurship. Contact us today!

Small Business Saturday: How To Generate Buzz and Attract Customers

 

Small Business Saturday, the Saturday that’s after Thanksgiving and on the heels of Black Friday, falls on November 26 this year. As one of the busiest shopping days of the year, it presents a wonderful opportunity to springboard your business into a successful holiday season.

 

Are you preparing to make the most of it?

 

If you haven’t given it much thought, there’s still time! The American Express Shop Small® website has numerous ideas and resources to help you make this Small Business Saturday the best ever.

 

Here are some additional tips to help you gear up for the day and build excitement that will last into the weeks that follow:

 

  • Craft a Small Business Saturday promotional offer to draw customers to your business that day. Shoppers are always looking for great deals around Black Friday, so make yourself stand out with an offer they can’t resist.

 

  • Create flyers to advertise your Small Business Saturday offerings and drop them into customers’ shopping bags in the weeks leading up to November 26.

 

  • Partner with other small businesses to promote each other’s products and services. Share each other’s marketing materials and talk up your fellow merchants to customers. Small business is all about mutual support. Everyone in the local business community wins when that happens!

 

  • Use social media aggressively to promote Small Business Saturday and your special offers. On Facebook, consider paying to boost posts so they’ll have greater exposure. On Twitter and Instagram, use the hashtags #SmallBizSat and #ShopSmall in your updates so people looking for participating businesses and special offers can find you.

 

  • Run an email marketing campaign to raise awareness of Small Business Saturday and the special deals you’re offering to customers that day.

 

The Shop Small website has free customizable Small Business Saturday marketing materials (for your website, social media, and your storefront) that you can download and print to help you in your efforts to promote the event and your business.

 

And don’t forget to tap the knowledge and experience of a SCORE mentor as you formulate a plan for driving sales this Small Business Saturday. SCORE volunteers offer expertise in all aspects of starting and running a small business. Who better to help you make this Small Business Saturday a success?

6 New Year’s Resolutions for Small Business Profitability

 

Succeeding in small business requires constant attention to detail and a willingness to adapt along the way. With a new year upon us, what better time to aspire to make your small business more profitable than ever before?

 

How can you get there? Here are six steps to put you on the right path.

 

  1. Evaluate your processes and systems and identify which are providing efficiency and which are holding back your productivity.

Specifically consider replacing manual processes that consume a lot of time with solutions that can automate them and that integrate with the systems your business uses. Accounting, sales, marketing, etc…where can you find efficiencies?

 

  1. Take a close look at your expenses.

Go line by line on your expense report and ask yourself what’s necessary and what is not. What’s driving up your business costs but not giving you a return on your dollars? Be honest, and consider kicking “nice to have” but unnecessary expenses to the curb in the New Year.

 

  1. Assess your pricing.

If you’ve grandfathered clients into rates from years gone by, it may be time for an increase. If you decide to raise your rates, make sure you’re providing enough advance notice to your clients (review the contracts you have in place!) and provide an explanation as to why you’re increasing pricing. And of course, thank them for their understanding and for the continued opportunity to work with them.

 

  1. Remain objective.

As the year begins and moves forward, question yourself and those you work with (employees, vendors, project partners, etc.) when things aren’t progressing as you had hoped. Are your expectations too high? Do team members have too much on their plates? Are those involved not pulling their own weight? Do your products and services need improvement? These are tough questions that need to be asked and answered honestly for you to gain an understanding of what you can do better to improve your business results.

 

  1. Take action

After figuring out what changes could benefit your business’s bottom line, you’ll need to make a plan and follow through on executing it. Write it down, breaking it down into clear, actionable steps and tasks. Then, share those action items with those you’ll depend on to help you succeed.

 

  1. Take responsibility.

As the owner of your business, change starts with you. Take responsibility and set a positive example for others to follow. By demonstrating enthusiasm and dependability, you’ll facilitate a company atmosphere that has a firm foundation of cooperation and accountability.

 

If you need guidance in making 2016 the best year yet for your small business, contact us at Portland Maine SCORE. Our certified mentors are knowledgeable about all aspects involved in starting and running a business.