VeteransPlus is dedicated to helping veterans improve their quality of life through financial literacy. So, if your life ambitions include opening your own business, you shouldn’t let any obstacles stop you. Especially when there are so many valuable tools and resources to help you get started. Here are just a few you need to know about:
Online Resources
These days if you want to start a business, you can do so online. One of the first steps you should take when setting up your business is to choose the right entity. For most entrepreneurs, this will mean creating an LLC, which you can easily do online. Each state has its own set of rules for LLC’s so check yours before you fill out any online forms. Aside from being less time-consuming, using an online LLC business tool will also help you avoid legal fees.
You can also find online resources to help you with other aspects of running your business. For example, you can use payroll software to handle things like automating payroll and tax filing and payment. In addition to payroll, a feature-laden software that offers customized bill reminders and expense tracking will be an investment worth making.
Veteran Loans and Grants
You may need some extra cash to help get your business up and running. Luckily, there are VA loans meant specifically for entrepreneurs. You can visit the VA website to see if you’re eligible for any of these loan programs but know that there may also be grant programs available. The benefit of using grants rather than loans is that you will not have to pay these funds back.
Nonprofits and Business Help
The VA is a great place to start when you are a veteran who is looking for help getting a new business started. Even so, there are also other assistance programs available from a variety of government and non-profit organizations. For example, you can register your business through SBA programs for disabled veterans, to gain access to even more help. There are also several reputable nonprofits dedicated to helping veteran entrepreneurs fulfill their business goals.
When tapping into veteran support, particularly for your business, you want someone on your corner who can help you keep your business on track financially. This is why it’s worth connecting with VeteransPlus, which provides pro bono financial planning advice. Access to this type of knowledge will be especially helpful as your business starts to bring in profits.
Franchises and Side Gigs
Just looking to dip your toe into the business world? Then one of these side hustles may be a perfect fit for you. For example, you can put all of the fitness hours you racked up while in service to use as a fitness instructor. You could even carve out a niche helping veterans and other people with disabilities stay in shape. If you have more time and startup funding to dedicate to a business, starting a franchise could be a good idea as well.
As a former member of the Armed Forces, you already have what it takes to be a successful entrepreneur. Perseverance, discipline, and dedication are all such important skills. Combine these traits with the tools and resources above, and you will be well on your way to making your dreams of owning a business come true!
Contribution made by:
Brittany Fisher of financiallywell.info
Photo Credit: Rawpixel
