Good morning. Thank you for joining us today to examine how we support veterans’ entrepreneurship through various programs at the U.S. Small Business Administration (SBA). I want to thank Ranking Member Shaheen for suggesting this hearing and for working with me on a comprehensive veterans’ entrepreneurship bill that I hope we can mark up next month.

We will be hearing from two panels of witnesses today. The first is a panel of entrepreneurs who have honorably and bravely served our country in the armed forces; and the second panel includes representatives of programs that help these veterans start and grow their businesses once they transition from military service. I want to thank all of our witnesses for being here today to testify on this important issue.

Veterans are invaluable members of our community—serving our country in so many ways both here and abroad. Our military service members commit themselves to not only protecting our citizens, borders, and freedoms, but also serving our communities long after they leave active duty. In the past two years alone, over 360,000 service members have separated from the armed forces, and there will be over 1 million service members transitioning out of the military over the next five years. While our military men and women gain valuable experience throughout their service, 69% of veterans say that their biggest challenge after leaving the military is finding a job. We have over 1 million veterans currently unemployed, with unemployment rates for veterans at 9%, and in some markets as high as 21%.

We are here today to examine how we can better serve our returning heroes through entrepreneurial development programs at the SBA that target veteran service members throughout their transition to civilian life. Veteran entrepreneurs and small business owners are significant, vital contributors to our local and national economies. There are over 2.4 million businesses with majority ownership by veterans. They contribute over $1.2 trillion to our economy each year and employ over 5.7 million workers. However, while our service members demonstrate advanced maturity and extensive professional and leadership skills from their military service, many transitioning service members do not have the technical knowledge to start and sustain a business.

The SBA operates a number of programs that provide comprehensive training and counseling to entrepreneurs and small business owners. These resource programs continue to help business owners as they work to sustain their business, building relationships from day one of the training program that can last decades. These programs also partner with other SBA resource partners and programs to ensure the continued success of every client, almost always at no cost.

In addition to the SBA’s core technical assistance programs, such as Small Business Development Centers, SCORE, and Women’s Business Centers that also serve and have outreach initiatives specific to veterans, the SBA has supplemented these efforts with several new, innovative initiatives aimed at supporting veterans and their families. These programs include Veterans Business Outreach Centers (V-BOCs), Operation Boots to Business, Veteran Women Igniting the Spirit of Entrepreneurship (V-WISE), and the Entrepreneurship Boot Camp for Veterans with Disabilities (EBV).

These programs serve as vital resources for veteran entrepreneurs for training and counseling on how to translate their professional skills into a viable, sustainable business operation. Many involve online and in-classroom education programs as well as counseling on everything from business plans, marketing, and loan applications to successful business practices down the line for continued success. It is imperative that the SBA’s veteran entrepreneurial development programs operate effectively through efficient coordination amongst its core programs in order to ensure that veterans are afforded the necessary resources to succeed.

In an effort to ensure veterans continue to receive the support they need to succeed after military life, Senator Shaheen and I are working on a bipartisan bill that I hope to move out of Committee next month. Today’s hearing will be informative to us in the development of this legislation.

Specifically, I am interested in finding out more about the role SBA’s core entrepreneurship programs, including SBDCs, SCORE and Women’s Business Centers, play in delivering entrepreneurship training to veterans nationwide, and how we can ensure that any new initiatives are fully integrated with these partners. Boots to Business is set up to be delivered on military bases as part of the Transition Assistance Program, but veteran small business owners will likely need ongoing guidance and business consulting services as they start and grow their business back in their hometowns. With over 1000 locations nationally, it is vital that they utilize the SBA’s well-established and effective resource partners.

I also want to ensure that our veterans get the highest quality assistance as they start their own businesses, and that we are making effective taxpayer investments. Metrics for these programs must be clearly defined, reliable and measurable, and the grant award process for delivery must be robust and fully competitive.

I am confident that our witnesses can shed light on these and other issues. Again, thank you to all of you for participating in today’s hearing.