Assistance for Veterans Looking to Open a Small Business

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Assistance for Veterans Looking to Open a Small Business

As a veteran in Cromwell, Connecticut, you might find you have the skills and discipline to open a business and work hard to see it thrive. Your armed service experience also gives you the upper hand since you’re used to risk-tasking. Plus, you learned the importance of integrity. Fortunately, when you know where available resources are and understand a few basic tips, you’ll be more likely to succeed in your venture.

Write a Solid Business Plan

Your first step should be writing a business plan. This document can help you manage your company. Plus, you’ll need it to apply for a grant or loan or intrigue investors.

For your business plan, write down a description of your company. You’ll need to write information about the employees you plan to hire and their roles. Include information about your competitors, financial projections, and target audience, as well.

Keep in mind that you’ll more than likely need a business plan to apply for a grant or loan or intrigue investors in Cromwell.

Know Where to Look for Funding

Look into the U.S. Small Business Administration’s low-interest loan programs as well as grants and other funding. If you’re a disabled veteran, you may qualify for the Service-Disabled Veteran-Owned Small Businesses program.

Additionally, research private grant programs for veterans. For instance, Hivers and Strivers is an organization that invests anywhere from $250,000 to $1 million during each funding period in veteran-owned businesses.

Use Technology to Your Advantage

The internet gives you access to bookkeeping software. With these programs, you can easily input all your transactions. You may then review the information and identify where you’re wasting funds. Some programs allow you to complete payroll online. In addition, you can find programs to complete your yearly tax return.

Hire a Logo Designer

Think about hiring a logo designer as part of your marketing. You’ll then have a professional symbol for your business.

Take into account that your logo is often a person’s first impression of your company, so you need to make it a memorable one. It also helps you stand out from the competition. If you have limited funds, consider using an online logo maker. You can still create an appealing design but won’t have to spend a fortune.

Fortunately, basic design programs are available that you can use without any background knowledge of logo design. You merely choose an image and style, then add text. Finally, you add the finishing touches, such as changing the font and colors. If possible, include some detail that lets people know you’re a veteran-owned business.

Last but not least, make sure to use tools that can help you compress PDF files for free. This way, you can easily attach your new logo to emails and official business-related documents.

How to Network

Use your service connections to get the word out about your business, especially if you have ties to people in other states and you’re creating an e-commerce business.

You may use social media if you’re local in Cromwell or an e-commerce business. Use either your personal pages or create business pages to spread the word.

Become a Strong Veteran-Owned Business

By searching for funding and using your resources to your advantage, you can lay the foundation for a business in Cromwell that’ll be more likely to thrive. Learn about other resources for veterans by visiting The American Legion Department of Connecticut.