U.S. Senators Tammy Duckworth (D-IL), John Kennedy (R-LA) and Dick Durbin (D-IL) have introduced legislation to strengthen support around veteran owned businesses. According to a press release, “the Veterans Small Business Enhancement Act would allow Veteran small business owners to acquire equipment and property that the federal government no longer has a use for by adding Veterans to the list of eligible recipients for federal surplus property, which already includes women and minority small business owners as well as Veterans Service Organizations.”
This new mandate could help veteran entrepreneurs in hard skilled industries like manufacturing gain a competitive advantage to meet certain requirements in both the public and private sector. The senators believe the Veterans Small Business Enhancement Act would help entrepreneurs lower costs, increase employment, and offer an economic boost overall to the country. With over 2.5 million veteran owned businesses in America, there are sure to be more than a few will qualify and use this new opportunity to the fullest.
The General Services Administration (GSA) has overseen distribution of federal surplus property for 15 years in partnership with the Small Business Administration (SBA) and State Agencies for Surplus Property (SASP). When there is no federal need for excess property, SASPs disburse the property to eligible recipients who otherwise may have been unable to acquire it. This legislation is supported by the Veterans of Foreign Wars (VFW) and the National Association of State Agencies for Surplus Property (NASASP).