Q: Will the proposed new “G.I. Bill of Rights” do anything to help veteran-owned small businesses?

Will

A: I wish that were so, but it’s not. The new G.I. Bill would help returning veterans with education, and it would help small business owners hire better qualified veteran employees, but it is not intended to help veteran small business owners per se.

That said, the good news is that there are nevertheless some very good programs out there for the veteran entrepreneur. (More on that in a moment.)

First, some background:

As World War II wound down, Congress passed the Servicemen’s Readjustment Act of 1944, more commonly known as the G.I. Bill of Rights. That law gave every veteran the financial wherewithal to go to the college of their choice.

That is no small thing.

Fully 90% of enlisted men and women do not have a college degree because most enter the service right after high school. At the same time, almost 400,000 service men and women now leave the armed forces every year. This means that most end up entering the job market without much needed higher education.

And employers, small business and large corporation alike, often like to hire employees with a college degree. But without a G.I. Bill for today, these troops are left to their own devices.

Yes, over the years, Congress has increased the amount offered for veteran education, but it still lags far behind the current cost of a higher education.

That is why Senator Jim Webb of Virginia introduced a new G.I. Bill. His legislation proposes to raise the annual allowance for college to about $22,000 (currently it is less than half of that.) This would be enough to pay tuition, housing, and living expenses at any public university.

Don’t we owe these vets at least that much?

Apparently the President and his military brass do not think so, worried that the bill would hurt retention efforts. Said one Pentagon official last month, “If the benefit is too large, many troops will leave the military after their first term.”

Nevertheless, last Thursday, the Senate overwhelmingly passed an Iraq war spending bill that included the new G.I. Bill. What will happen to the bill is unclear as President Bush has vowed to veto the spending bill.

Amazing.

But as I said, there is good news too. There are some significant efforts out there intended to help the veteran entrepreneur. Here are a few of the best:

Vetrepreneur Magazine / The National Veteran Owned Business Association (NAVOBA.com): NAVOBA and its magazine (which I write for) are a fantastic resource for any veteran wanting o succeed in their own small business.

The Veterans Corporation (Veteranscorp.org): A great organization that helps all vets, including service disabled veterans obtain the tools and resources they need to be successful entrepreneurs. Specifically, they help with access to capital and bonding, and entrepreneurial education.

The SBA Office of Veterans Business Development: This SBA program helps veteran small business owners in a variety of ways – counseling, advocacy, training, and so on. Importantly, the office also runs Veterans Business Outreach Centers (VBOC) which help veterans start, run, and grow their businesses.

Center for Veterans Enterprise (vetbiz.gov): The CVE works to improve the business climate for veterans, minimize barriers, and to inform the public about the benefits of working with veteran-owned small businesses.

The one last thing we can do to help the small business owner and the veteran small business employee is to pass the new G.I. Bill.

Today’s Tip: Over the past year I have been working to put together a comprehensive free program to help veterans start their own small business. It’s not an easy thing to do, especially in this economy, and you would like to help, we would like to hear from you. Shoot me an email to info@mrallbiz.com.

Perhaps you are working for someone else or for a company or corporation, and you have always dreamed of owning your own business but were concerned about qualifying for the financing to get your venture started.

Maybe you just want to check it out and see if it could work for you. Is it a good idea? Is your personality suited towards business ownership? You can find out the answers to these questions and more at http://www.veteranscorp.org/ . This link is for the main site, and you can follow the various links provided below to find areas that apply to your particular situation or need.

The National Veterans Business Development Corporation is made up of directors appointed by the President of the United States and can be found doing business as the The Veterans Corporation. It is a federally-chartered 501(c)(3) organization that was created by the Veterans Entrepreneurship and Small Business Development Act of 1999. The Veterans Corporation Mission is to create and enhance entrepreneurial business opportunities for veterans. The Veterans Corporation also provides veterans with the tools and resources they need to be successful in business, including:

* Access to Capital – you can find funding for your business, including guaranteed portions of loans making you an attractive client too many banks and lending institutions. http://www.sba.gov/services/financialassistance/7alenderprograms/pe/index.html

* Access to Business Services – The Veterans Corporation has many programs and services to help Veterans in all phases of the entrepreneurial process. http://catalog.veteranscorp.org/catalog.html

* Entrepreneurial Education – From classes and seminars to guides and workbooks, there is a host of tools for you to download and utilize. http://www.veteranscorp.org/Public/Education/RegionalEducationSites.aspx

* Surety Bonding – a contractor’s ability to secure some of that work, especially in the public sector, may be limited if he or she is unable to obtain a bid, performance, or payment bond. The Veterans Corporation has partnered with the Surety and Fidelity Association of America (SFAA) to give Veteran business owners exclusive access to surety bonding. http://www.veteranscorp.org/Public/SuretyBonding.aspx

* Insurance and Prescription Coverage – Most small business owners cannot afford insurance or prescription plans for themselves and their employees. The Veterans Corporation has partnered with some of the leading providers to make sure its members have the coverage they need http://www.veteranscorp.org/Public/InsurancePrescriptionCoverage.aspx

* Veterans Business Directory – The Veterans Corporation’s Veterans Business Directory is an interactive directory that lets you showcase your business, search for other Veteran-owned businesses, and support other Veteran entrepreneurs. http://www.veteranscorp.org/BusinessDirectory.aspx

The U.S. Small Business Administration’s Office of Veterans Business Development is dedicated to serving the veteran entrepreneur by providing assistance to veterans seeking to start and develop small businesses. Their site can be found at:

http://www.sba.gov/aboutsba/sbaprograms/ovbd/index.html

There is another excellent website for all federal sites and pages that offer assistance to veterans http://www.vetbiz.gov/
As a veteran, you have served your country and there are a variety of programs to help serve you as you begin your civilian business venture. Even if you have been out of the military for awhile, check to see if you qualify for any of these programs, which can play a big role in your present or potential business venture.