New Law Helps Veteran Business Owners
Northville, MI (Law Firm Newswire) March 27, 2019 – A new law signed by President Trump earlier this year will help veteran entrepreneurs start and build their businesses.
The Veterans Small Business Enhancement Act adds veterans to the list of people eligible to receive federal surplus personal property, such as office furnishings, scientific equipment and heavy machinery. Other beneficiaries of this unclaimed surplus property are female and minority business owners, as well as Veteran Service Organizations (VSOs) like the American Legion and VFW.
The legislation was introduced by Senators Tammy Duckworth, D-IL, John Kennedy, R-LA, and Dick Durbin, D-IL. It has widespread support from both parties and VSOs nationwide. According to Senator Duckworth, there are over two and a half million veteran owned businesses with more to come in the future as many of the men and women who served during the conflicts in Iraq and Afghanistan are ending their military careers and entering the private sector.
The General Services Administration distributes federal surplus personal property in partnership with the Small Business Administration and other agencies. When the federal government no longer needs the extra items it passes them along to entrepreneurs. This saves the government the cost of disposing of or keeping up the items, which can be in the millions of dollars. By using it to help small business owners instead, it stimulates the economy and creates jobs.
Lead Attorney for Legal Help for Veterans and military veteran, James G. Fausone, says “We need to do everything we can as a country to help our military service men and women succeed in their civilian lives. Allowing them to benefit from federal surplus property could really help a veteran start a business.”
Fausone himself may have been able to benefit from this new law at one point in his career. He is an experienced attorney who works with veterans to solve a variety of legal issues at Legal Help for Veterans, his firm in Northville, Michigan.Learn more at http://www.legalhelpforveterans.com Legal Help for Veterans, PLLC 41700 West Six Mile Road, Suite 101 Northville, MI 48168 Toll Free Phone: 800.693.4800