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Washington D.C.— Today, the House of Representatives voted to pass the Veteran Entrepreneurship Training Act of 2023. The bill authorizes the Small Business Administration’s (SBA) “Boots to Business” program, which provides entrepreneurship training to military service members, spouses, and veterans, for five years.

“Starting a business is not for the faint of heart. It takes courage, perseverance, resourcefulness, and leadership to launch a successful enterprise. Many of these qualities are inherent in those that serve our country. Despite these skills and expertise, many servicemembers have difficulty transitioning to civilian life,” said Congresswoman Nydia M. Velázquez (D-NY), Ranking Member of the House Small Business Committee. “It is imperative that we enact this legislation and provide the certainty to veterans that this training will continue to be available to them as they leave the service.”

Veterans own approximately 1.8 million businesses, nearly all of which are small businesses. Research shows that veterans are especially qualified to start and run their own businesses, as they, throughout their service, learned how to make good decisions in chaotic environments and are natural leaders, confident, and driven. Unfortunately, former service members often face larger barriers to accessing capital, navigating the resources available to them, and finding adequate mentors.

Boots to Business (B2B) is an entrepreneurial education and training program offered by SBA as part of the Department of Defense's Transition Assistance Program. In Fiscal Year 2022, nearly 24,000 veterans, transitioning servicemembers, and military spouses received Boots to Business entrepreneurship training.

“As our nation’s servicemembers complete their final tour and begin their transition back to civilian life, it is important that we provide opportunities for them to pursue the American Dream. And owning and running a successful small business is the epitome of that dream,” said Ranking Member Velázquez. “Codifying the Boots to Business Program will allow thousands of servicemembers, their spouses, and veterans to receive vital training on how to build successful small businesses.”