Nevada's Opportunity to Support Veteran-Owned Businesses with New Outreach Center
The state of Nevada is on the precipice of an exciting opportunity that could provide invaluable support to its veteran community. Nevada is primed to receive grant money aimed at bringing federal economic development programs tailored to active military personnel and service veterans. This initiative has the potential to be a game-changer for the thousands of budding veteran-owned businesses throughout the state.
The U.S. Small Business Administration (SBA) announced late last year that it was accepting grant applications to establish up to 12 new Veteran Business Outreach Centers across the nation. These grants are part of a program that offers entrepreneurial development services to former and transitioning service members as well as their spouses who are interested in starting or growing a small business.
The SBA's announcement sparked enthusiasm among officials and advocates in Nevada, including U.S. Sen. Jacky Rosen, D-Nev., who sent a letter to SBA Administrator Isabel Guzman urging her to consider Nevada as a prime location for one of these new outreach centers. Sen. Rosen emphasized that Nevada is home to a quarter of a million veterans and has more veteran-owned small businesses than many other states, yet none of the existing Veteran Business Outreach Centers are currently located in Nevada.
If approved, Nevada could receive an award of up to $325,000, according to the SBA, with the organization running the program being required to implement an additional program called Boots to Business. This program is a boot camp that teaches basic business principles to soon-to-be discharged service members at either Nellis Air Force Base or the Naval Air Station in Fallon.
One of the applicants for this opportunity is the Southern Nevada Veterans Chamber of Commerce, led by its president, Lester Lumbad, a former airman. The chamber's mission includes spurring entrepreneurship, employment, and education within the Las Vegas military community. Lumbad noted that many of the chamber's member organizations could benefit from the outreach center.
The outreach center program also offers services like one-to-one mentoring, helping prospective business operators develop a five-year business plan, and reviewing monthly financial statements to determine a company's feasibility. These services can effectively prepare existing small businesses for their next stage of growth.
The veteran-to-veteran connection is a crucial aspect of the program, allowing administrators to understand and address challenges specific to veterans. Eric Ranks, Executive Director of The Veterans Connection and CEO and Co-Founder of 22 Salute Spirits & Coffee, highlighted the importance of this connection, stating that veterans feel like traditional business support programs don't understand some of the things they're dealing with.
As Nevada's veteran community awaits the decision regarding the establishment of a Veteran Business Outreach Center, the excitement and hope are palpable. Providing this support to the men and women who have made incredible sacrifices for the country is a vital step in helping them succeed as they transition back into civilian life.
Officials hoping Nevada lands a Veteran Business Outreach Center - Las Vegas Sun Newspaper
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