Rise in federal SDVOSB participation goal proposed

News - Published Nov 16, 2020

United States Representative Trey Hollingsworth (R-IN) has introduced the Investing in Veteran Entrepreneurial Talents (VETs) Act to congress with the goal of increasing business opportunity for service-disabled veteran-owned small businesses (SDVOSBs).

The VETs Act would raise the current federal contracting utilization goal for SDVOSBs from 3 percent to 5 percent, which would bring that goal into line with the utilization goal for woman-owned small businesses (WOSBs) and socially and economically disadvantaged small businesses (SDBs). The VETs Act would also include a new certification protocol with the goal of ensuring SDVOSBs have been properly certified.

The VETs Act was drafted in consultation with several SDVOSB owners, out of the over 25,000 registered SDVOSBs in the country.

"I am proud to create more opportunities for [service-disabled veterans] by asking the federal government to eliminate the disparities in purchasing goals," said Rep. Hollingsworth in a statement.

Read the press release from Hollingsworth's office at https://hollingsworth.house.gov/news/documentsingle.aspx?DocumentID=1036.