Fayeteville State University School of Business and Economics Veterans Business Outreach Center Fayetteville State University
FSUVBOC.com aims to help Veterans start great businesses

Frequently Asked Questions (FAQs)

Q: What is the process for starting a business?

A: Every good business starts with a plan.

The FSU VBOC will assist you in developing and maintaining a business plan.

This includes choosing the appropriate legal form of the business, meeting equipment/capital requirements and determining cost, choosing the right organizational structure, creating a strategic plan, completing a market/SWOT analysis, and a drafting a financial plan.

Your business plan should include contingency strategies for dealing with unexpected successes and/or failures (believe it or not, both of these can be a challenge).

Q: Does a veteran have any advantages when starting a business?

A: Veterans are uniquely qualified to succeed as entrepreneurs.

Your training and experience as a service member can be a great asset in developing a strong business strategy and adapting to challenging markets and circumstances.

All U.S. military veterans (including Active Duty) qualify for VBOC services. This is the website of SBA Region IV VBOC which serves the following states:

  • North Carolina
  • Kentucky
  • South Carolina

If your state is not listed above, please visit the SBA's list of VBOC locations to determine which regional office to contact

Q: Can I get a grant to start my business?

Small Business Grants

A: While some grants are available through government and non-government organizations, grants are generally not available for start-up, for-profit ventures.  The VBOC itself does NOT provide grants for starting and expanding a business, however, we may be able to help qualified persons apply for and receive loans such as the Veterans Advantage Program.

For information pertaining to government Grants please visit http://www.grants.gov .

Use caution when researching your finance options, as disinformation and scams can cause a great deal of financial harm very quickly.

Q: What licenses and permits do I need?

A: The short and not very helpful answer is, it depends.

In most cases, your business will need to obtain an EIN, Tax ID Number appropriate to your state, a Business license along with any requisite permits due to local health and safety laws, and proof of Eligibility for any and all Employees.

The SBA provides a tool that can help you meet basic requirements for a number of the most common types of businesses in your State.

Q: Where do I get startup capital or how do I get
a business loan?

A: The SBA provides loan guarantee options to veterans starting businesses. However you must apply to an SBA lender.

Complete a request for counseling or visit a Veteran's Business Outreach Center near you to receive assistance in putting together the capital you will need to start your business or venture.

Q: Do I need a Business Plan?

A: Your business may or may not require the most comprehensive of plans.

But very few financial institutions will lend support to a business without, at minimum, a financial plan accounting for repayment of any debt obligations, required assets, operating costs, and contingencies for both failure and/or overwhelming success.

Q: As a veteran, can I get government contracts?

A: Disabled veterans in particular have an advantage when it comes to procuring government contracts.  In general, a percentage of all federal contracting dollars goes to businesses owned by service-disabled veterans.  While both state and federal agencies are actively seeking service-disabled veteran-owned small businesses (SDVOSB) as vendors, the road to successfull federal contracting is a multi-year process and requires substantial registration and certification.  Contact us to learn more about establishing a SDVOSB or a VOSB.

Q: What is a Legal Structure for a business?

A: The legal structure of your business has a lot to do with personal risk and liability in regards to assets, debt, and other obligations.

Depending on the needs and legal requirements of your business, you may want to operate your business as a Partnership, Limited Liability Corporation (LLC), C Corporation, or S Corporation.  The Corporations Division of the Secretary of State website in the state which you will transact business is an excellent source for researching legal structure.

Q: Where can I go for training before and after I start my
business?

A: SBA has established the Veterans Business Outreach Centers, special loans and Surety Bonding programs for Veterans and Reservists, government procurement programs for Veterans, Veterans Business Development Officers in every District Office, and special outreach, counseling and training at more than 1,500 Small Business Development Centers .

Need More Answers? Ask us today!


Before we can provide assistance, the U.S. Small Business Administration requires all clients to complete the Request for Counseling (Form 641).

This form will act as our Confidentiality and Code of Conduct Agreements. All client information is held in strict confidence. Counseling is FREE AND CONFIDENTIAL.

To start the process, please click on the "Contact us today" button below to access our electronic Request for Counseling form.

BUSINESS START-UPS START HERE!

Request for Counseling!
Fayetteville State University
1200 Murchison Road
Fayetteville, NC 28301
Office: 910.672.2683
35.0723 -78.8951
Funded in part by a cooperative agreement with the U.S. Small Business Administration. All opinions, conclusions, or recommendations expressed are those of the author(s) and do not necessarily reflect the views of the SBA.



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