The SBA supports Veteran entrepreneurs and their families

It's no surprise that current and former members of the military make great entrepreneurs. The resilience, determination, and fortitude they acquired while in uniform was a great training ground for becoming a successful small business owner. Working in collaboration with our government and community partners, the U.S. Small Business Administration (SBA) plays an important role in supporting service members as they exit the military and become entrepreneurs.

During National Veterans Small Business Week, Nov. 1-5, the country celebrated those veterans, service members, and military spouses who realized their dream of entrepreneurship. This year, we give special recognition to those veteran business owners who overcame, and recovered, from the hardships caused by the COVID-19 pandemic.

Historically, veterans have been more likely to start a small business than non-veterans. Nearly 10 percent of all American businesses are owned by a veteran. North Dakota is home to more than 52,000 veterans, and many of them see entrepreneurship as a pathway to earning a good living, and a way to support their families. Nearly 7,000 North Dakota veterans have made the jump to small-business ownership.

SBA encourages veterans, and transitioning service members, to utilize its programs and services. Here are five SBA resources veterans can leverage when starting their own business.

1. Transition Assistance: SBA and its resource partners support active duty and transitioning service members, veterans, and military spouses through the Boots to Business program, part of the Department of Defense's Transition Assistance Program. This program provides free, high-level business training to participants.

2. Entrepreneurial Training: Whether you're a seasoned business owner or looking to learn business fundamentals, you can tap into SBA's entrepreneurial training programs for help. Resource partners include Veteran Business Outreach Centers, which focus their training and counseling resources on veterans and their spouses; Women Business Outreach Centers that assist women in starting and growing small businesses; Small Business Development Centers that offer free, one-on-one counseling and low-cost training services; and SCORE a network of thousands of volunteer business counselors around the country that provides free in-person and online counseling as well as educational workshops.

3. Access to Capital: SBA, and its network of resource partners, understand that access to capital may be a barrier for veterans starting or expanding their business. The first step is to find a commercial lender who participates in the SBA's loan guarantee program. SBA's Lender Match is a free online referral tool that connects small business owners with SBA participating lenders.

4. Government Contracting: Are you looking to pursue federal government contracting opportunities to help grow your business? SBA and its partners have several programs to help veterans access both competitive and non-competitive federal contracts.

5. Your local SBA district office is an excellent place to start your journey in starting or expanding your business. The North Dakota District Office is located in Fargo.

The SBA supports our veteran entrepreneurs and their spouses. For more information on SBA's programs and services, please visit http://www.sba.gov/vetbiz. Remember to join in the celebration by following us on Twitter at @SBAgov and sharing your stories with the #VetBiz and #MyVetBiz hashtags.

Alan Haut is the SBA's North Dakota district director based in Fargo. He oversees the agency's programs and services across the entire state.