Veteran entrepreneurs will benefit from a new law aimed at helping them grow their small businesses, create jobs and expand economic opportunity.
The Veterans Small Business Enhancement Act was signed into law by President Trump earlier this month. The legislation adds veterans to the list of eligible recipients for federal surplus personal property, such as office equipment and furniture to specialized apparatuses including scientific devices and heavy machinery.
Veteran small business owners now join women and minority small business owners and veterans service organizations (VSOs) as eligible recipients for federal surplus personal property.
The American Legion and other VSOs, including VFW and Paralyzed Veterans of America, supported the legislation. The Legion’s National Executive Committee passed Resolution 21 at the 2018 Fall Meetings to support legislation ensuring parity for veterans in all state and federal small business programs.
In a press release touting the legislation, Sen. Tammy Duckworth, D-Ill., who introduced the bill with co-sponsors Sens. John Kennedy, R-La., and Dick Durbin, D-Ill., said “When our veterans return home from their service, they deserve our full support as they transition back into civilian life, and that includes supporting their efforts to build and manage a small business.”
“Countless veterans are entrepreneurs and small business owners making contributions to their communities, but many struggle with the costs of starting a new business idea,” said Durbin. “With the Veterans Small Business Enhancement Act now signed into law, veterans can access GSA’s federal surplus property program, which can help them save costs as they open new businesses and store fronts.”