Veteran-Owned Businesses are important suppliers with unique strengths. According to the Small Business Administration (SBA), veterans owned majority interest in 2.52 million businesses in 2012, while according to the 2018 Annual Business Survey, veteran business owners accounted for 6.1% (351,237) of all U.S. employer businesses and employ approximately 4 million workers. But how can procurement be most effective in identifying and engaging with these organizations?
In this session, you will walk away with an understanding of the changing demographics of the U.S. Armed Forces military-connected community of veterans, service members and military families and the demographics of these individuals as entrepreneurs and business owners. You will get an overview of the skills, competencies and experiences US Armed Forces veterans have that differentiate Veteran-Owned Businesses. You will understand different best-practice supply management and procurement policies and standards relevant to Veteran-Owned Business, including differences between business-to-business and business-to-government best-practices. Finally, you will learn Veteran-Owned Business certifications and standards as well as Military Spouse demographics and owned businesses.