New Initiative Matches Small Veteran-Owned Businesses with Large Corporations
The Coalition for Veteran Owned Business, a collaboration between Syracuse University’s Institute for Veterans and Military Families and First Data Corp., has been launched as a way to put an estimated 2.5 million veteran- and military family-owned businesses into the supply chains of large corporations.
The new business initiative that features some of the biggest companies in the country, including American Express, The Walt Disney Company and the U.S. Chamber of Commerce, and aims to connect veteran-owned small businesses with larger corporations.
Veterans start small businesses at a higher rate than the general population but often aren’t as aware of private sector opportunities. The initiative is designed to put small businesses owned by veterans or military spouses into direct contact with larger corporations to sell products or services. The coalition will also offer entrepreneurial education and training. One goal is to indirectly improve veteran hiring by boosting veteran-owned businesses, which are more likely to hire former service members.
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