When a United States veteran returns from active duty, he or she can face difficulty returning to the workforce. In many cases, the knowledge and skills acquired through military service are highly specialized, and do not translate well into domestic employment options. However, many who complete military service are able and eager to start their own business ventures in the state of Georgia. One newly launched program aims to assist female military veterans with the process of business formation.
The program is offered through a partnership between Capital One Financial Corporation and a nonprofit entity known as Count Me In. The program will serve as a mentorship opportunity focused on helping female vets start and expand their business concepts. One key aspect of the program is helping entrepreneurs find sources of funding for their ventures.
There are a number of targeted funding sources to help female vets, including the Patriot Express Pilot Initiative. Securing outside finding can be difficult, however, and venture capitalist funds are not widely available to female-helmed business ventures. Alternative sources of funding may be one area where the mentorship program can be of greatest assistance.
For female veterans who plan to start their own Georgia business venture, proper planning is essential. Part of the process of business formation involves ensuring that all of the legal aspects of a new business are properly addressed. This can include contracts, partnership agreements and a multitude of other needs, depending on the type of business in question. Starting with a secure legal foundation is a key element to success, and one that should not be overlooked in the excitement to get up and running.
Source: San Jose Mercury News, “BizProf: Outreach programs help women veterans with startups,” Bruce Freeman, March 27, 2013