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ODU to be Host Site for Veterans Business Outreach Center

Old Dominion University will soon be the site of a Veterans Business Outreach Center (VBOC), funded by the U.S. Small Business Administration to provide entrepreneurial development services to military veterans and reservists who own or want to start a small business.

The office is one of eight being funded by the SBA throughout the eastern United States. Along with the augmentations made to existing VBOC offices, the investment by the SBA will total $2.5 million.

"Our service men and women have made invaluable contributions and sacrifices for our country and supporting them as they pursue their life's dreams to start or grow their own business is one of our highest priorities," SBA administrator Karen Mills said.

"Through these centers, we stand ready with a myriad of support, from entrepreneurial education and training to linking them with opportunities to compete for federal contracts and access much-needed capital - critical tools that will help them take their business to the next level, drive economic growth and create jobs."

The VBOC will provide outreach, assessment, long- and short-term business training, counseling, electronic or online assistance, and other technical assistance to veterans and U.S. military reserve component business owners and entrepreneurs.

In addition to these grants to the Veteran Business Outreach Centers, the SBA recently awarded grants to 10 local SBA Small Business Development Centers to increase entrepreneurial assistance to veterans.

This article was posted on: April 15, 2010

Old Dominion University
Office of University Relations

Room 100 Koch Hall Norfolk, Virginia 23529-0018
Telephone: 757-683-3114
http://www.odu.edu/news

Old Dominion University is an equal opportunity, affirmative action institution.