What is a Service-Disabled Veteran-Owned Small Business (SDVOSB)?
A Service-Disabled Veteran-Owned Small Business (SDVOSB) is a designation given to small businesses in the United States that are owned and operated by veterans who have incurred a service-connected disability. This program is part of the federal government’s broader initiative to support veterans and promote their active participation in the economy through entrepreneurship.
Eligibility Criteria for SDVOSB
To qualify as an SDVOSB, a business must meet specific criteria:
- Ownership: At least 51% of the business must be owned by one or more service-disabled veterans.
- Control: The management and daily operations must be controlled by one or more service-disabled veterans.
- Size Standards: The business must meet the size standards established by the U.S. Small Business Administration (SBA) for small businesses.
Benefits of Being an SDVOSB
The SDVOSB designation provides several advantages, especially in government contracting:
- Set-Aside Contracts: SDVOSBs are eligible for certain government contracts that are specifically set aside for service-disabled veteran-owned businesses.
- Subcontracting Opportunities: Large contractors often seek SDVOSBs to fulfill subcontracting goals, offering more collaboration opportunities.
- Support Programs: Access to various federal programs and resources designed to support veteran entrepreneurs.
Importance of SDVOSB
The SDVOSB program not only supports veterans in transitioning to civilian life but also contributes to the economy by fostering small business growth and innovation. It recognizes the sacrifices made by veterans and provides them with opportunities to leverage their skills and experiences in the business world.
