A new partnership between the Small Business Administration and the Veteran Entrepreneurial Training and Resource Network will create a pilot training program to provide resources and networks to help veterans expand their small businesses.
SBA said in a news announcement the 6.5-month Veteran Owned Small Business Growth Training program kicks off in September in Portsmouth, New Hampshire, and will have 13 weeks of Saturday morning classroom sessions with 12-30 participants. The program will also feature 13 weeks of peer-to-peer mentoring sessions.
Participants will learn about strategic planning, financial management, cash flow forecasting, marketing the small business, sales methods, human resources, developing a growth plan, access to capital, legal issues, and government contracting.
Applicants must be current business owners with at least one year of operation and one employee (not including the owner) and annual revenues of $75,000 or more.
The program is funded by an award of $100,000 from President Donald Trump’s salary from the second quarter of fiscal year 2018.