There are multiple benefits for retired and active veterans and their families than ever before. Some people don’t realize, though, that if you want to continue serving their communities and country, they can start a business.

Today, there are more than a few benefits offered by being veteran entrepreneurs. Keep reading to learn what some of those are.

Ability to Use Your Unique Skillset

The military teaches you unique skills that are not earned in other ways. Some of these skills take nonveterans many years of experience to master. With these unique skills, you will have an advantage over traditional entrepreneurs. Sometimes, these skills can even make your business seem more attractive to lenders.

Government Contracts

You can seek government contracts from the federal government. In fact, there are unique opportunities for those who are veterans, disabled, or women. When you identify as any of these, you can utilize these contracting opportunities.

Utilize Grow with Google

Google provides some of the easiest and most accessible resources when you are a veteran-owned business. This is provided through a program called Grow with Google. When you identify that you have a business that is “veteran-led,” you can add veteran attributes to your profile on Google My Business. You can also gain access to lessons and tips on several marketing and business skills. This is also going to let you connect with all new markets throughout the world.

SBA Loans

The Small Business Administration offers a loan program called the Veterans Advantage Loan. This provides several benefits for veteran business owners. This includes access to as much as $5 million along with 10-year loan terms thanks to the SBA 7(a) Veterans Loan.  

Franchising Benefits

Due to the extensive skills and training that you gain in the line of duty, up to 99% of franchisors view veteran entrepreneurs as a good fit. For example, you can find many resources from the VetFran directory, including articles, videos, and guides.

Tax Incentives

Each year, businesses that have hired unemployed veterans can earn a max income tax credit of as much as $1,500. With this program, you have the option to claim 25% of the initial wages paid the first year for up to $6,000.

As you can see from the information above, there are more than a few options for veterans who open a business. If you are in this position, consider this to see what is offered.