Veterans Business Outreach Center Program
The Veterans Business Outreach Center (VBOC) Program is designed to provide entrepreneurial development services such as business training, counseling, and resource partner referrals to transitioning service members, veterans, National Guard and reserve members, and military spouses interested in starting or growing a small business. The Small Business Administration has 20 organizations participating in this cooperative agreement and serving as VBOCs.
Pre-Business Planning Workshops: VBOCs conduct entrepreneurial development workshops dealing specifically with the major issues of self-employment. An important segment of these workshops entails the usage of the internet as a tool for developing and expanding businesses. Each client is afforded the opportunity to work directly with a business counselor.
Concept Assessments: VBOCs assist clients in assessing entrepreneurial needs and requirements.
Business Plan Preparations: VBOCs assist clients in developing and maintaining a five-year business plan. The business plan includes the legal form of the business, equipment requirements and cost, organizational structure, a strategic plan, market analysis, and a financial plan. Financial plans include financial projections, budget projections, and funding requirements.
Comprehensive Feasibility Analysis: VBOCs provide assistance in identifying and analyzing the strengths and weaknesses of the business plan to increase the probability of success. The results of the analysis are utilized to revise the strategic planning portion of the business plan.
Entrepreneurial Training and Counseling: VBOCs, working with other SBA resource partners, target entrepreneurial training projects and counseling sessions tailored specifically to address the needs and concerns of the service-disabled veteran entrepreneur.
Mentorship: VBOCs conduct, as appropriate, on-site visits with clients to ensure adherence to their business plans. Additionally, VBOCs review monthly financial statements to determine whether a revision of the business plan is warranted or that desired results are being attained.