The U.S. Small Business Administration has developed a program which is meant to teach veterans how to start and grow their own businesses, according to the SBA website.
Under the Boots to Business program, SBA will team with a number of partners to “provide transitioning service members the knowledge, tools and resources they need to evaluate opportunities and become successful entrepreneurs.”
The initiative’s pilot program launched in the Spring of 2012 and the SBA aims to eventually provide 250,000 service members from all branches of the military with entrepreneurship services each year.
The training program is offered at Whitman School of Management at Syracuse University in three phases.
- Phase I– 12 minute video introducing military service members to business ownership as a lifestyle
- Phase II– 2 day Session and “Introduction to Business Ownership” textbook
- Phase III– Boots to Business 8 week online “mini” MBA
Currently, 2.45 million veteran-owned businesses employ over 5.8 million individuals, which makes up nine percent of all U.S. firms.
While military veterans represent approximately 6% of the population, veterans account for almost 15% of all business owners.