WASHINGTON- Today, the House Committee on Small Business held a full committee hearing focused on how federal programs can better support veteran entrepreneurs as they transition from military service to small business ownership.
During the hearing, Ranking Member Nydia M. Velázquez (D-NY) emphasized the importance of federal efforts that help veterans turn their skills and experience into successful small businesses. She highlighted the Committee’s bipartisan work to strengthen entrepreneurship training for veterans, including codifying the Boots to Business program, while pointing to ongoing challenges veteran-owned firms face in accessing capital, customers, and federal contracting opportunities.
“When I talk to veteran-owned small businesses and their advocates, I hear many of the same concerns as other small businesses,” said Ranking Member Velázquez. “That access to capital and the ability to secure the amount of capital they need can be a challenge—as are reaching new customers, hiring the right employees, and contracting with the federal government. And we know that among veteran-owned firms, there are underserved communities, in particular female veterans and veterans returning to rural communities.”
Veterans own approximately 1.6 million businesses nationwide, nearly all of which are small businesses, employing more than 3 million workers and contributing nearly $180 billion in annual payrolls. As roughly 200,000 servicemembers transition to civilian life each year, entrepreneurship remains a critical pathway to economic stability and opportunity.
Members also raised concerns about threats to long-standing Small Business Administration (SBA) programs that provide targeted assistance to veteran entrepreneurs. In their first budget request, the Trump administration attempted to eliminate funding for the SBA’s Veterans Business Outreach Centers, which provide critical counseling, training, and referrals tailored to veteran entrepreneurs after military service.
The Committee heard testimony from veteran business owners and advocates who shared firsthand experiences with federal entrepreneurship programs and discussed what is working, remaining gaps, and how Congress can ensure veteran-owned small businesses have reliable access to the resources they need to start and grow.
“Veterans have already signed a blank check to this country, payable with their lives. When they return home and choose to start a business, they are asking for nothing more than an equal opportunity to compete,” said Rebecca Aguilera-Gardiner, Chief Executive Officer of Veterans in Business Network in San Diego, CA. “By removing bureaucratic barriers and ensuring fair access to capital and contracts, we do not just help veterans; we fuel the American economy.”
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