Veteran-Owned Small Business (VOSB) Program
Veterans Entrepreneurship and Small Business Development Act of 1999
The purpose is to expand existing small business programs and establish new assistance programs for veterans who own and operate small business firms. This act recognizes that many veterans and/or reservists have been negatively impacted by the numerous military deployments in the past 10 years. It allows active duty reservists to defer repayment of loans when they are on active duty. The period of deferral shall begin when the eligible reservist is ordered to active duty and shall terminate 180 days after the reservist is released from active duty. The act also establishes the Associate Administrator of Veterans Business Development within the Small Business Administration. The act also defines service- disabled veteran and veteran owned firm.
Service Disabled Veteran-Owned Small Business Concern - FAR 2.101
- A small business concern not less than 51 percent of which is owned by one or more service disabled veterans or, in the case of any publicly owned business, not less than 51 percent of the stock of which is owned by one or more service disabled veterans; and
- The management and daily business operations of which are controlled by one or more service disabled veterans or, in the case of a veteran with permanent and severe disability, the spouse or permanent caregiver of such veteran.
Service disabled veteran means a veteran as defined in 38 U.S.C. 101(2), with a disability that is service connected as defined in 38 U.S.C. 101(16). Note: There is no set-aside program for service disabled veteran-owned small business firms or for veteran-owned small business firms. However, legislation has recently been passed and signed by the President, which establishes a set-aside program for service-disabled veterans. Also, the Small Business Administration may consider a service-disabled veteran as disadvantaged for the purposes of the Section 8(a) program on a case-by-case basis.
Veteran Owned Small Business Concern - FAR 2.101
- A small business concern not less than 51 percent of which is owned by one or more veterans (as defined in 38 U.S.C.101 (2)) or, in the case of any publicly owned business, not less than 51 percent of the stock of which is owned by one or more veterans; and
- One or more veterans control the management and daily operations. Service-disabled veteran-owned small business concerns and veteran-owned small business concerns may self-certify their status through the provision in FAR 52.219-1.
Subcontracting with Veteran Owned Small Business Concerns - FAR 19.702
Prime contractors submitting Small Business Subcontracting Plans in accordance with FAR 52.219-9 shall include goals for awards to veteran-owned small business concerns. On October 22, 2001, the FAR was amended to add a subcontracting plan goal requirement for service disabled veteran-owned small business concerns.