Empowering Veterans: How to Invest in Their Success
Veterans have dedicated their lives to serving their country, and investing in their future is a meaningful way to give back. National Invest In Veterans Week® (NIVW) and related initiatives provide platforms to empower veteran entrepreneurs and service members transitioning into civilian life. Here’s an in-depth look at how you can invest in veterans and ensure they thrive economically and professionally.
1. Support Legislative Efforts
Investing in veterans begins with advocating for laws that protect and promote veteran-owned businesses and opportunities. Key legislation includes:
Investing in VETS Act
Signed into law in 2023, the Investing in VETS Act incentivizes employers to hire veterans by providing tax breaks and other financial incentives. This legislation recognizes the value of integrating veterans into the civilian workforce and ensures that businesses are rewarded for their efforts.
Service-Disabled Veteran Opportunities in Small Business Act
This act, passed by the House of Representatives, mandates federal support for service-disabled veterans looking to start and expand small businesses. By reducing barriers to entry and providing essential resources, this act ensures disabled veterans have equal access to entrepreneurial opportunities.
2. Engage with Veteran-Centric Organizations
Veteran-focused organizations serve as critical support networks for transitioning service members.
InvestVets
This organization connects employers with military talent by hosting virtual networking events and career fairs. Veterans bring unique skills such as discipline, leadership, and adaptability, making them invaluable assets to any workplace.
National Veterans Small Business Coalition (NVSBC)
NVSBC focuses on improving veteran entrepreneurs’ access to government contracts, ensuring they receive a fair share of federal opportunities.
Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE)
This program specifically targets female veterans and military spouses, offering resources, mentorship, and training to help them succeed as entrepreneurs.
3. Leverage Financial Tools for Veterans
Veterans can grow their wealth and financial security by using specific financial tools and programs designed for their unique needs:
Employer-Sponsored Retirement Plans
Veterans transitioning to civilian jobs should take full advantage of employer-sponsored 401(k) or 403(b) plans, which allow automated contributions from paychecks. Many employers match contributions, providing an additional boost to retirement savings.
Money Market Accounts
These accounts offer higher interest rates compared to traditional savings accounts, providing veterans with a safe and effective way to grow their savings over time.
VA Home Loan Program
The VA Home Loan Program enables veterans to purchase homes with no down payment, competitive interest rates, and reduced closing costs. This can be a cornerstone of financial stability for veteran families.
4. Participate in National Invest In Veterans Week®
National Invest In Veterans Week® (NIVW), celebrated annually from March 1–7, is a growing movement dedicated to supporting veteran entrepreneurs. Since its inception, NIVW has expanded its reach to 62 global markets and introduced innovative initiatives to empower veterans worldwide.
Signature Programs and Events
- Forward March Saturday: A kick-off event that brings together veterans, businesses, and communities to discuss opportunities for collaboration.
- Veteran Tech Tuesday: Focused on providing technology resources and training for veterans to modernize and grow their businesses.
- Wellness Wednesday: Centers on mental and physical well-being, offering programs that help veterans balance their personal and professional lives.
π Domains Initiative
NIVW launched the π Domains Initiative to provide veterans with global digital resources. These state-specific platforms help veterans connect with local markets while maintaining access to international opportunities.
Presidential Advocacy
NIVW leaders are advocating for official recognition from the White House. A presidential proclamation would amplify the movement’s mission and ensure veterans receive the national attention they deserve.
5. Avoid Investment Fraud
Veterans and those who support them must remain vigilant against fraudulent schemes that prey on their investments. Here are some tips to avoid scams:
- Be Skeptical of Promises: Avoid investments promising high returns with little or no risk.
- Do Your Homework: Research every investment opportunity thoroughly before committing funds.
- Check Fees: Be aware of hidden fees, which can erode long-term returns.
- Verify Professionals: Always conduct background checks on investment professionals to confirm their legitimacy.
6. Comprehensive Proposal: The Invest in Veterans Stimulus Act
This transformative legislative framework aims to address systemic barriers faced by veteran entrepreneurs, such as access to capital and networking opportunities.
Key Features of the Act
1. Financial and Tax Incentives
- Startup Tax Credits: $15,000 for veterans launching businesses in high-priority sectors.
- Low-Interest Loans: Reduced rates for veteran-owned businesses via SBA programs.
- Hiring Incentives: Employers hiring veterans receive $6,000 per veteran in tax credits.
2. Enhanced Mentorship and Training Programs
- Veteran Entrepreneur Mentorship Network: Connects veterans with business leaders.
- Boots to Business Expansion: Includes specialized tracks in AI, cybersecurity, and green tech.
3. Networking and Resource Infrastructure
- Veteran Business Development Centers: Hybrid hubs offering resources and workshops.
- Virtual Platforms: Centralized online tools for funding, mentorship, and collaboration.
4. Public-Private Partnerships
- Innovation Stimulus Grants: $300M annually for partnerships with private corporations.
- Corporate Engagement Tax Credits: Encourages investment in veteran-owned startups.
5. Streamlined Federal Contracting
- Simplified application processes using AI-powered tools.
- Reserve 12% of federal contracts for veteran-owned businesses in critical industries.
7. The Leadership Behind NIVW
- Jeff Shuford: Retired Founder and visionary behind NIVW.
- Angel Shuford: Current VP and CFO, expanding global reach and initiatives like FeMil℠ and FeMil Lead℠.
- Kevin D. Shoun: Senior Advisor focusing on mental health advocacy and community engagement.
8. Economic and Social Impact
- $1.2 Trillion Annual Contribution: Veteran businesses boost the U.S. economy significantly.
- Job Creation: Projected 1.5 million new jobs by 2030.
- Leadership in Key Industries: Veterans drive innovation in AI, healthcare, and renewable energy.
9. Future Goals and Vision
By 2030, NIVW aims to:
- Double its intellectual property value to $50M.
- Generate $12B in annual global economic impact.
- Expand partnerships across Asia, Europe, and South America.
Conclusion: A Legacy of Transformation
National Invest In Veterans Week® embodies resilience, innovation, and global advocacy. Through initiatives like the Invest in Veterans Stimulus Act, it creates pathways for veterans to thrive as leaders in transformative industries. Join the movement to honor and empower those who served.
This article explores challenges like access to capital and mentorship, while showcasing solutions like FeMil℠ and FeMil Lead℠. It urges policymakers to support transformative proposals like the Invest in Veterans Stimulus Act, which could pave the way for sustainable growth and innovation in veteran-led businesses.
