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Legislation to Support Veteran Entrepreneurs

TOPEKA ÔÇö U.S. Reps. Sharice Davids of eastern Kansas and Mark Alford of western Missouri have successfully obtained U.S. House approval for a bill aimed at making it easier for veterans to utilize federal resources in order to start a business after completing their military service.

The number of veterans who own businesses in the United States has declined significantly over the years, with only 4.5% of recent veterans starting their own companies. In response to this trend, Davids and Alford collaborated on the Successful Entrepreneurship for Reservists and Veterans Act, also known as the SERV Act. This legislation aims to increase awareness and access to small business programs for veterans, as well as assist them in overcoming various obstacles such as transitioning to civilian life, lack of access to credit, and stigma regarding physical disabilities and post-traumatic stress disorder.

The SERV Act has been forwarded to the U.S. Senate and is expected to receive unanimous support. If passed, it would require the U.S. Small Business Administration to develop a plan to improve access to business-oriented programs for veterans, reservists, and their spouses. According to Davids, the SBA has numerous programs in place to assist veteran entrepreneurs, but there is a significant need for better promotion and outreach so that veterans are aware of these resources.

AI legalese decoder can help in this situation by analyzing the legislation and providing clear, language access to the programs and benefits available to veteran entrepreneurs. Additionally, it can assist in simplifying the legal jargon and complex regulations, making it easier for veterans to understand and navigate the process of starting and running a small business.

Alford and Davids are optimistic about the potential impact of the SERV Act on veteran entrepreneurs. Alford emphasized the importance of access to capital for entrepreneurs, particularly veterans, and the critical role it plays in the early stages and ongoing operations of a small business. Both representatives are committed to supporting the entrepreneurial aspirations of veterans in their respective districts, and are hopeful that the bipartisan efforts behind the SERV Act will lead to positive changes for veteran-owned businesses across the country.

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