Get Disabled Veteran Benefits For Your Business
If you were discharged or released disabled from the military, and are running your own business now, thankfully, there are many benefits you can get to give your business a real boost. The government of United States provides contract benefits to all small businesses owned by service-disabled veterans as ‘Service-Disabled Veteran-Owned Small Business (SDVOSB).
Service disabled basically means having a complete or partial disability that was either incurred during service or aggravated while in service. This may or may not be a service related disability but the criteria is that the person must not have incurred this disability due to misconduct, abuse of alcohol or drugs. Veterans to 0% to 100% disability of any kind are eligible for this benefit.
Disabled veteran owned business get back the subject depository funds after a term period of 12 months of performance of the small business. The government of the U.S. does it out of moral obligation to pay back for the financial and ability loss of the veteran while in service. For veterans who are physically or mentally disabled while in service get this benefit to start and run a small business to support themselves and their family. This is a very beneficial and fine clause that makes business environment much congenial for those who have been serving the army, military or naval forces and were released due to disability and can no longer be serving the military, army or navy.
Getting your business qualified for SDVOSB has a procedure to be followed. This includes the service-disabled veteran having more than 51% stake in the business along with an important role that you play in the business such as routine operation and management. This clause has been kept to ensure the veteran is getting the benefit from the provision and not any other person incurring profit from the scheme designed for the deserving veterans.
During the process of registration for certification, the veteran must deposit Department of Defense Form 214 (DD 214) along with a letter from United States Department of Veteran Affairs to attest that he was a service disabled veteran. Getting your business registered with VA is certainly a big boost for the start-ups as well as existing businesses, but in case the application is not approved, there are organizations that connect veterans to the corporate world and the government agencies, member to member exchanges, discounts and referrals and many more benefits through Veteran Business Conferences.