Committee on Small Business Holds Hearing on Improving Support for Veteran Entrepreneurs

WASHINGTON, D.C. - Today, Congressman Roger Williams (R-TX), Chairman of the House Committee on Small Business, held a hearing titled "From Service to Startup: Empowering Veteran Entrepreneurs" to examine the importance of veteran entrepreneurs and how to strengthen support for the men and women who served our country.

"We must honor those who have sacrificed their time, opportunities, and even their lives to protect and serve our nation," said Chairman Williams. "As veterans return home, searching for their new mission, they face unique challenges trying to transfer their military skills to the workplace. They are leaders, innovators, and entrepreneurs-and, with the right tools, can overcome any obstacle. As a Committee, we are working to identify gaps, remove barriers, and strengthen partnerships with veteran leaders to ensure veteran entrepreneurs have access to the resources they need to succeed."

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Watch the full hearing here.

Below are some key excerpts from today's hearing:

Rep. Jack: "Mr. Lefebvre, I'm curious, as a veteran business owner, what additional training or educational opportunity do you wish you had received when you were still in the military that would've made the transition to becoming a business owner easier and more approachable?" Mr. Lefebvre: "At the time, nothing. It wasn't an idea that I had. I, again, did not know it was in the realm of the possible. For me, offering an idea in TAP is a step forward. It is, but it has to start before then-the communication, the narrative. But the reality of taking specialized training, integration among a team, and all of the leadership experience that is built over any service member's time. It needs to be communicated that it translates to the private sector-it does. This is a viable option, but the communication has to start far before they are about to take their first step out the door."

Rep. Bresnahan: "What are some examples that we can be doing, with the SBA and in Congress, to make sure that those veterans are seen and heard when they are going through the entrepreneurship process, which is daunting to begin with, let alone transitioning from your service to the country and now looking to be an entrepreneur? Are there any specific examples that you can point out?" Mr. Schmiegel: "My point was addressing the fact that small business owners, ourselves, don't have access to influence the decision-making process-to help service members who are transitioning and even veterans who are in transition. I've had seven jobs since I left the Marine Corps, so we're always in transition. We transform ourselves. We earn the title Soldier, Sailor, Airman, Marine. We need to earn the title veteran, too. The point I was making-again, if you look at other committees that are part of the House and the Senate, you don't see small business owners, like us, creating a voice and having a seat at the table. If you look at installations, it's the same big players that have preferred access. Small business owners aren't at TAP. Small business owners aren't generally at hiring fairs, and they aren't influencing and empowering young service members to consider these opportunities, whether it's during transition or later in life. We're not planting the right seeds because we don't have access."

Mr. Alford: "Ms. Fox, I think I heard you say in your previous answer to Mr. Meuser's question that the issue is not access to capital-it is the readiness. Please expand on that." Ms. Fox: "Yes, veterans are-thank you for that question-veterans are turned down at a rate about 6 percent higher than their civilian counterparts when it comes to capital. The issue is that veterans will not go back, unlike their civilian counterparts. Once they are turned down, that's it." Mr. Alford: "Why is that?" Ms. Fox: "So typically, it goes back to a high-trust organization, meaning that once they feel that they are not able to access a resource, they don't feel as comfortable going back, whereas a civilian might feel a little more comfortable just trying it again. In addition, if you look at limited networks and limited mentoring because of the nature of PCSs, you look at the fact that they don't have as many people to lean on to say, 'What should I have done there?' And that's why we have to create transparency and connectivity so that they're trying to figure out their business and not the system."

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