New Louisiana program aims to help veterans start a business

New Louisiana program aims to help veterans start a business

On Behalf of | Jun 1, 2017 | Uncategorized |

As residents celebrated Memorial Day weekend, they may have taken a moment for remembrance of those who gave the greatest sacrifice — their lives — in service to our country. However, it is also important to provide for our nation’s veterans, so that they have the support they need to be successful after their active service duties are complete and they return to civilian life.

Louisiana Governor, John Bel Edwards, along with several Louisiana agencies have collaborated to create a program known as the Louisiana Veteran Entrepreneurship Program. The program aims to give veterans in the state business opportunities after they have completed their active duty. The program provides both short-term, intensive help in the beginning, as well as long-term help in the form of counseling.

To participate in the program, a veteran will submit an application and then will be screened. If he or she qualifies, he or she will go through a three-week training program over the Internet, after which he or she will then go through in-person training.

The veteran will learn what needs to be done to begin, operate and fund their endeavors. In this way, veterans will be able to create a plan for starting their businesses, as well as introduce them to those who may be interested in investing in the business or lending money, so that these veteran’s dreams of starting a business will come to fruition.

It is estimated that in its first 12 months, approximately 108 veterans will receive training through the program. It is hoped that of these, 30 percent or more will start their own business, making a combined total of $5 million or more in startup capital. In the end, it is also hoped that at least 100 new jobs will become available via these new businesses.

Starting a business is a dream for many Louisiana veterans. But, they may need help in doing so. The Louisiana Veteran Entrepreneurship Program is just one way to help these individuals, while at the same time, benefiting Louisiana’s economy.

Source: Leesville Daily Leader, “Louisiana launches business startup program for veterans,” May 24, 2017