• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube
Big Ideas for Small Business logo

Barbara Weltman

Big Ideas for Small Business, Inc.

Whitepaper download

Subscribe and download our eBook, "150+ Tax Deductions for Small Business A to Z."

This field is hidden when viewing the form
Get the:

  • Home
  • About Us
  • Big Ideas For Your Business
    • Idea Of The Day ®
    • SMB Legal
    • SMB Taxes
    • SMB Financial
    • Small Business
    • Newsletter Archive
  • Services
  • Books
  • Blog
  • Multimedia
    • Videos
    • Radio Shows/Podcasts
  • Be a Guest Blogger

Business and Tax Rules for Veteran Entrepreneurs

November 5, 2019 / By Barbara Weltman

Veteran EntrepreneursHere are some business and tax rules unique to veterans.

Veterans Day, November 11, is a federal holiday that has come to be a day for honoring veterans in all wars. National Veterans Small Business Week runs from November 4 through 8, 2019, as a celebration of veteran-owned businesses.

Statistics on veteran-owned businesses

There are no exact figures on the number of veteran-owned businesses today. There were more than 2.5 million such businesses when the SBA’s Office of Advocacy compiled statistics several years ago. According to VeteranOwnedBusiness.com, veteran-owned businesses make up a significant portion of the small business community and contribute greatly to the U.S. economy. Some stats to note:

  • Veteran-owned firms had sales/receipts of $1.220 trillion, 5.793 million employees, and annual payroll of $210 billion. Employer firms were responsible for 92.3% of the receipts
  • California, Texas, Florida, New York, and Georgia had the largest numbers of veteran-owned businesses.
  • The owners were predominantly over the age of 55 (75.1%), reflecting the ages of veterans overall, and they tended to be better educated than other business owners

Special programs for veteran entrepreneurs

The federal government offers some special help for veteran entrepreneurs:

  • Guidance. The Office of Veterans Business Development (OVBD), which oversees Veterans Business Outreach Centers across the country, is devoted to promoting veteran entrepreneurship.
  • Training programs. There are various entrepreneurship training programs for veterans. Some are geared to those with service-related disabilities.
  • Government contracting. The Service-Disabled Veteran-Owned Small Business Concern program (SDVOSBC) gives procuring agencies the authority to set acquisitions aside for exclusive competition among service-disabled, veteran-owned small businesses. Sole source awards will be delivered if certain conditions are met
  • Fee relief on SBA loans. There are upfront guaranty fees on SBA Express Loans are waived for members of the veteran and small business community, including military spouses.
  • Special disaster loan programs. If a veteran-owned business suffers an economic injury due to a federally-declared disaster, there are special SBA loans up to $2 million to cover operating costs that cannot be met due to the loss of an essential employee called to active duty in the Reserves or National Guard.

Work opportunity tax credit

Whether or not your business is veteran-owned, if you’re hiring now, consider hiring a veteran. A veteran has skills and training to be a great employee. And hiring one may entitle you to a federal tax credit. You can view a prior blog on this subject that includes 10 things to know about the work opportunity credit for hiring veterans. Be aware that the credit is set to run only for those hired by the end of 2019, although Congress may extend this tax break.

Final thought

Join in the conversation about veteran-owned businesses on Twitter using #VetBiz Success.

Tags #VetBiz tax rules veteran entrepreneurs veteran-owned businesses veterans Veterans Day

Primary Sidebar

Categories

  • General Business (506)
  • Guest Blog (115)
  • Homepage (28)
  • Small Business (1,008)
  • SMB Financial (330)
  • SMB Legal (67)
  • SMB Taxes (327)

Barbara’s Recent Posts

  • How to Choose the Right Promotional Product Distributor July 11, 2025
  • Is Christmas in July for Your Small Business? July 10, 2025
  • How to Streamline Recruitment and Selection to Enhance Hiring Results July 9, 2025
  • One Big Beautiful Bill: Checklist of Tax Changes for Small Businesses July 8, 2025
  • What the U.S. Supreme Court Told Small Businesses in This Term: Part 1 July 3, 2025
  • Mid-Year Business Planning for 2025 July 1, 2025
  • 10 Ideas for Coping with Cash Flow Challenges June 26, 2025
  • 5 Insurance Traps to Avoid June 24, 2025
  • Creating a Feng Shui Office Layout for Your Business June 20, 2025
  • Scaling Your Business by Optimizing Social Media Marketing June 19, 2025
  • The Timeless Value of Business Cards in a Digital World June 18, 2025
  • What Does the Latest IRS Data Book Tell Us? June 17, 2025
Awarded Top 100 Small Business Blog medal (link will open in a new window or tab)
Marquis Who's Who 2023 Badge
Top Small Business Blogs (Link will open in a new window or tab.)
8 Financial blogs small business Owners Need to Read. Invoice home.  (link will open in a new window or tab)
Best Small Business Blog, Expertido.org
Top 50 Small Business Blogs 2018
Best Small Business Blogs
BizHumm Top 100 Business Blog Award to Barbara Weltman
FitsSmallBusiness.com: Award for Best Small Business Blog 2017 (link will open in a new window or tab)
FitsSmallBusiness.com: Award for Best Small Business Blog 2016 (link will open in a new window or tab)

Footer

Big Ideas for Small Business logo

Small business ideas, business tax news and small business consulting from Barbara Weltman to provide business owners with the information they need to succeed. Visit our small business blog, Idea of The Day®, small business books and articles on small business taxes, small business finance and small business legal advice.

Contact Us

[email protected]

(772) 492-9593

gacor maxwin situs slot thailand terpercaya situs slot gacor situs gacor akun pro thailand slot bandar togel terpercaya

Latest Tweets

bigideas4sb Big Ideas for Small Business® @bigideas4sb ·
July 10

5 Best Apps to Help You Delegate Tasks Easily - LifeHack https://bit.ly/4ktlMs8 #smallbusiness #delegate #workplace

Reply on Twitter 1943438117886726437 Retweet on Twitter 1943438117886726437 Like on Twitter 1943438117886726437 1 Twitter 1943438117886726437
bigideas4sb Big Ideas for Small Business® @bigideas4sb ·
July 10

Motivation vs Discipline: Why One Always Beats the Other (And It's Not What You Think) - LifeHack https://bit.ly/4eCTSIQ #productivity #smallbusiness #motivation

Reply on Twitter 1943384967964229673 Retweet on Twitter 1943384967964229673 Like on Twitter 1943384967964229673 Twitter 1943384967964229673
bigideas4sb Big Ideas for Small Business® @bigideas4sb ·
July 10

Use These 11 Guidelines to Decide When to Bend the Rules for Employees https://bit.ly/3GEPOeH #workplace #smallbusiness

Reply on Twitter 1943360134333276317 Retweet on Twitter 1943360134333276317 Like on Twitter 1943360134333276317 Twitter 1943360134333276317
Load More

Copyright © 2008–2025 Big Ideas for Small Business, Inc  |  Designed by Hudson Fusion

  • Privacy Policy
  • Sitemap