The Small Business Administration (SBA) recently introduced its new Veteran Business Certification, aimed at helping veteran-owned businesses gain access to more federal contracting opportunities and resources.
Contracting departments of businesses need to be aware of the requirements that VOBs must fulfill, in addition to the numerous benefits that working with VOBs provides. In fact, VOBs and SDVOBs are increasingly being sought after by corporations that are seeking supplier diversity. As a result, there are currently 2.5 million VOBs in the country, and they generate more than $1 trillion in sales per year.
Why the Veteran Owned Business Verification Process Matters
Veterans should not ignore the importance of having their businesses verified as a Veteran-Owned Business. Veterans are being sought out for many different opportunities within society due to their honorable service. Therefore, having your business verified as a Veteran-Owned Small Business (VOSB) or Service-Disabled Veteran-Owned Small Business (SDVOSB) gives you access to more business opportunities, such as government and corporate contracting.