Publisher's Synopsis
Several federal agencies, including the Small Business Administration (SBA), provide training and other assistance to veterans seeking civilian employment. For example, the Department of Defense, in cooperation with the Department of Labor, Department of Veterans Affairs, and several other federal agencies, including the SBA, operates the Transition Goals Plans Success program (Transition GPS), which provides employment information and entrepreneurship training to exiting military servicemembers to assist them in transitioning from the military to the civilian labor force. In recent years, the SBA has focused increased attention on meeting the needs of veteran small business owners and veterans interested in starting a small business. In FY2013, the SBA provided management and technical assistance services to more than 100,000 veterans through its various management and technical assistance training partners (e.g., Small Business Development Centers, Women's Business Centers [WBCs], Service Corps of Retired Executives [SCORE], and Veterans Business Outreach Centers [VBOCs]). In addition, the SBA's Office of Veterans Business Development (OVBD) administers several programs to assist veteran-owned small businesses. Congressional interest in the SBA's veteran assistance programs has increased in recent years primarily due to reports by veteran organizations that veterans were experiencing difficulty accessing the SBA's programs. Congress also has a continuing interest in assisting veterans, especially those returning from overseas in recent years, in their transition from military into civilian life. Although the unemployment rate (as of November 2014) among veterans (4.5%) was lower than for nonveterans aged 18 years and older (5.5%), the unemployment rate of veterans who have left the military since September 2001 (5.7%) was higher than the unemployment rate for nonveterans. The expansion of federal employment training programs targeted at specific populations, such as women and veterans, has also led some Members and organizations to ask if these programs should be consolidated. In their view, eliminating program duplication among federal business assistance programs across federal agencies, and within the SBA, would result in lower costs and improved services. Others argue that keeping these business assistance programs separate enables them to offer services that match the unique needs of various underserved populations, such as veterans. In their view, instead of considering program consolidation as a policy option, the focus should be on improving communication and cooperation among the federal agencies providing assistance to entrepreneurs. This report opens with an examination of the current economic circumstances of veteran-owned businesses drawn from the Bureau of the Census's 2007 Survey of Business Owners, which was administered in 2008 and 2009 and released on May 17, 2011. It then provides a brief overview of veterans' employment experiences, comparing unemployment and labor force participation rates for veterans, veterans who have left the military since September 2001, and nonveterans. The report describes the employment assistance programs offered by several federal agencies to assist veterans in their transition from the military to the civilian labor force and examines, in greater detail, the SBA's veteran business development programs, the SBA's efforts to assist veterans' access to capital, and the SBA's veteran contracting programs. It also discusses the SBA's Military Reservist Economic Injury Disaster Loan program.
