In the Fiscal year of 2014, a new record was set by Federal agencies. According to the SBA, the federal government awarded contracting money to Service Disabled Veteran-Owned Small Businesses (SDVOSB) and met its goal for the third year in a row. In 2014, almost 4% of all federal contracting dollars (a nice $13.5 billion) went to SDVOSBs, which was the highest amount yet.
According to a statement from the SBA, the Federal agencies have had help meeting their goals from veterans, who have become business owners. “The SBA’s Office of Veterans Business Development grants $300,000 per year to the Montgomery County Chamber Community Foundation’s Veterans Institute for Procurement. The Institute has trained over 450 SDVOSBs on how to improve their capacity to compete for federal contracts.” According to an SBA survey, “graduates increased their revenue by an average of 49% within their first year of graduation and more than 82% if the graduates said that training enabled them to change the way they do business.”