Wednesday, Feb 1, 2023
Business

What You Need to Know About Veteran-Owned Construction Businesses

Whether you are a veteran who has always dreamed of starting your own construction business or you are looking for a job in this field, there are certain things you need to know. The first thing is that veterans are often the best leaders in this industry. The second is that there are several ways you can get started.

SDVOSBC

Service Disabled Veteran Owned Small Businesses (SDVO SBCs) are small businesses primarily controlled by Service-Disabled Veterans. SDVO SBCs can compete for federal contracts if they meet several requirements.

SDVO SBCs can compete on set-aside contracts with most federal agencies, and some can also receive sole source awards from the Department of Veterans Affairs. In addition, non-VA agencies can award sole source awards to SDVOSBs in limited circumstances.

The New York State Office of General Services governs the SDVO SBC program. It is designed to help agencies meet a government-wide goal of awarding 3% of prime contract dollars to SDVOSBs each year. The program identifies procurement opportunities for SDVO SBCs, and contracting officers can create SDVO SBC set-asides.

Start-up help from the VA

The Department of Veterans Affairs (VA) offers several helpful resources for veteran business owners. While they don’t offer small business loans, the VA has created several tools to help veterans launch and run profitable businesses.

For example, the Veteran Institute for Procurement offers training for service-disabled veteran-owned businesses. It also provides networking opportunities, community support, and educational events.

While most small business grants are for existing businesses, a few programs are specifically designed to aid start-ups. The Bunker Labs program allows start-up veterans access to a national network of veteran entrepreneurs. The site offers training and grants for start-up expenses.

Another is the StreetShares Foundation. It offers short-term loans, lines of credit, and contract financing to veteran-owned businesses. The foundation prioritizes social impact and the strength of the business idea.

Government contracts for veteran-owned small businesses

Veteran-owned small businesses like the veteran owned construction Terre Haute IN have a unique advantage in the federal contracting market. The federal government sets aside some of its contracts to help veteran-owned small businesses. These set-asides provide a level playing field for small businesses.

To qualify for this program, a company must be owned or controlled by one or more service-disabled veterans. It must also have one or more disabled veterans in the business’s day-to-day operations. The Department of Veterans Affairs is responsible for certifying these businesses.

There are several programs available for veteran-owned small businesses. For example, the Department of Veterans Affairs has special authority to award sole source contracts. It also offers a program called the Veterans First Contracting Program. These programs are designed to give veterans more opportunities to win contracts.

Veterans excel at leading the entire construction business

The construction industry is home to approximately 666,400 veterans. The industry is one of the best fits for veterans, especially those who have served in the military. They have valuable skills and experience to share with younger workers.

Choosing a veteran to lead your team can pay big dividends. For starters, veterans have the requisite technical know-how and leadership skills to make a difference. They are also great team players and can help ensure smooth project implementation.

When it comes to a construction job site, safety is paramount. Veteran construction workers have seen their share of dangerous situations and can offer insight to newcomers. They can also provide training to their colleagues. Recruiting veterans is an excellent way to boost your workforce’s skillset and get a leg up in the competition.