National Veteran Small Business Coalition (NVSBC) Market Research Report

Background

Overview

The National Veteran Small Business Coalition (NVSBC) is a non-profit organization dedicated to supporting veteran and service-disabled veteran-owned small businesses (SDVOSBs) in the federal marketplace. Established in 2010, NVSBC serves as the voice for veteran entrepreneurs, advocating for policies and practices that enhance their participation in federal contracting opportunities. The organization represents over 47,000 veteran-owned small businesses registered to work with the federal government.

Mission and Vision

Mission: To provide nationally recognized training, networking, and advocacy for veteran small business entrepreneurs in the federal market, ensuring they are procurement-ready and have enhanced access to opportunities to start, operate, sustain, and grow competitive businesses serving federal agencies and other government contractors.

Vision: By 2024, NVSBC aims to lead and promote the growth, strength, and success of veteran-owned small businesses in the federal marketplace, resulting in federal policies and practices that prioritize veteran-owned business opportunities and reestablish and maintain veteran business opportunities for federal acquisitions consistent with all other protected classes.

Industry Significance

NVSBC plays a pivotal role in advocating for veteran-owned businesses, striving to increase the federal government's procurement goal for SDVOSBs from 3% to 5%. This initiative aims to provide veterans with greater opportunities to contribute to federal contracting, thereby enhancing their economic impact and supporting national security objectives.

Key Strategic Focus

Core Objectives

Advocacy: Promote policies and acquisition strategies that further the participation of veteran-owned small businesses in federal contracting and subcontracting opportunities.

Connection: Connect veteran entrepreneurs with the business opportunities they need to succeed in the complex federal marketplace.

Development: Develop the knowledge base and skills veteran business owners need to function as successful federal contractors and subcontractors.

Areas of Specialization

NVSBC specializes in providing training, networking, and advocacy services tailored to the unique needs of veteran-owned small businesses, focusing on enhancing their competitiveness in the federal contracting arena.

Key Technologies Utilized

While specific technologies are not detailed, NVSBC leverages digital platforms and online resources to facilitate training, networking, and advocacy efforts for veteran entrepreneurs.

Primary Markets Targeted

NVSBC primarily targets veteran-owned small businesses seeking to engage in federal contracting and subcontracting opportunities across various sectors, including construction, information technology, supply chain logistics, and more.

Financials and Funding

Funding History

NVSBC operates as a non-profit organization, primarily funded through membership dues, donations, and grants. In August 2023, JPMorgan Chase committed $750,000 to the NVSBC Education Foundation, supporting mentorship, counseling, training, and networking programs for veteran entrepreneurs in federal contracting.

Recent Funding Rounds

Specific details about recent funding rounds are not publicly disclosed.

Notable Investors

JPMorgan Chase's philanthropic commitment in August 2023 is a significant contribution to NVSBC's initiatives.

Utilization of Capital

The funds are utilized to expand mentorship, counseling, training, and networking programs for veteran entrepreneurs, enhancing their procurement readiness and access to federal contracting opportunities.

Pipeline Development

As a non-profit advocacy organization, NVSBC does not have a product pipeline. Instead, it focuses on developing and delivering programs and services that support the growth and success of veteran-owned small businesses in the federal marketplace.

Technological Platform and Innovation

Proprietary Technologies

NVSBC utilizes digital platforms to facilitate training, networking, and advocacy efforts for veteran entrepreneurs, though specific proprietary technologies are not detailed.

Significant Scientific Methods

While specific scientific methods are not detailed, NVSBC employs data-driven approaches to assess the needs of veteran entrepreneurs and tailor its programs accordingly.

AI-Driven Capabilities

There is no specific information available regarding AI-driven capabilities within NVSBC's operations.

Leadership Team

Executive Profiles

Scott Jensen: Executive Director of NVSBC, leading the organization's advocacy and programmatic efforts to support veteran-owned small businesses.

Edward Tuorinsky: President of NVSBC, overseeing strategic initiatives and partnerships to advance the organization's mission.

Robert Betters: Vice President of NVSBC, contributing to the development and implementation of programs supporting veteran entrepreneurs.

Norris Middleton: Treasurer of NVSBC, managing financial strategies and ensuring the organization's fiscal responsibility.

William Dunn: Secretary of NVSBC, responsible for organizational governance and compliance.

Key Contributions

The leadership team is instrumental in advocating for increased federal procurement goals for SDVOSBs, securing significant funding commitments, and developing programs that enhance the competitiveness of veteran-owned small businesses in the federal marketplace.

Competitor Profile

Market Insights and Dynamics

The market for veteran-owned small businesses in federal contracting is dynamic, with increasing recognition of the value these businesses bring to federal agencies. The recent increase in the federal procurement goal for SDVOSBs from 3% to 5% reflects a growing commitment to supporting veteran entrepreneurs.

Competitor Analysis

As a non-profit advocacy organization, NVSBC does not have direct competitors but collaborates with various stakeholders, including government agencies, other non-profits, and private sector partners, to support veteran-owned small businesses.

Strategic Collaborations and Partnerships

NVSBC collaborates with various organizations to enhance its programs and support for veteran entrepreneurs, including:

JPMorgan Chase: Committed $750,000 to the NVSBC Education Foundation to support mentorship, counseling, training, and networking programs for veteran entrepreneurs.

U.S. Congress: Advocated for increasing the federal procurement goal for SDVOSBs from 3% to 5%, resulting in a significant policy change.

Operational Insights

NVSBC's strategic considerations include:

Major Competitors: Collaborates with various organizations rather than competing directly.

Market Position: As the largest membership-based veteran service organization, NVSBC holds a significant position in advocating for veteran-owned small businesses.

Competitive Advantages: Strong advocacy efforts, extensive network, and comprehensive programs tailored to the needs of veteran entrepreneurs.

Strategic Opportunities and Future Directions

NVSBC's strategic roadmap includes:

Expansion of Programs: Enhancing training, networking, and advocacy programs to support a broader range of veteran entrepreneurs.

Policy Advocacy: Continuing efforts to influence federal policies that impact veteran-owned small businesses.

Partnership Development: Building new partnerships with private sector companies to provide additional resources and opportunities for veteran entrepreneurs.