Of the estimated total of 24 million military veterans in the United States, four million of the eighty million small businesses are owned by veterans with high success rate of business startup as compared to other business startups. This success rate is partially if not entirely due to the experience the veterans gain in the armed forces.

As more and more veterans are choosing to begin their own businesses rather than taking another job at the time of their retirements, lots of services have emerged on the scene since 1999 to help veterans with business loans and education to help them enter and compete in the commercial market place.

In the early 1990’s during and after the Persian Gulf War, many veterans complained that their businesses were harmed or even lost due to their absence. Congress investigated and discovered that a variety of commercial losses occurred to these veteran-owned small businesses.

On the basis of this finding Congress enacted Public Law 106-50, the Veterans Entrepreneurship and Small Business Development Act of 1999, in August, 1999 to help the veterans. The bill was initially designed to reduce the effects on veteran-owned small businesses when their owners are ordered to active duty during military conflicts. This bill was sooner expanded to help veteran businessmen with business management and in acquiring loans and getting loan payment deferrals during the time of active duty.

To assist veteran businessmen, this law included the following provisions that were made available soon after the bill was approved:

• Financial relief will be provided to the veteran businessmen at the time of their active duty
  
  
• SBA Administrator will work with the Service Corps of Retired Executives (SCORE) for providing a number of counseling and training services to veteran businessmen

• Within the SBA, an Associate Administrator for Veterans Business Development administered establishment and workings of an office of Veterans Business Development (OVBD) for the creation, implementation, and growth of programs and policies of the SBA for veteran businessmen
  
  
• An independent Advisory Committee on Veterans Business Affairs to be established

• Establishment of the national Veterans Business Development Corporation to organize and work with the public and private recourses and the business development staffs of each Federal department and agency to assist veteran businessmen