VET Act of 2016

The Veterans Entrepreneurial Transition (VET) Act of 2016 proposes a three-year pilot program to help up to 250 veterans and transitioning service members start or purchase their own businesses. Under this program, eligible individuals could receive grants to cover the costs of launching a small business or franchise, provided they first complete an approved entrepreneurship training course and develop a formal business plan. The initiative is designed to test whether providing direct financial support for business ventures is an effective way to help veterans transition into civilian careers as entrepreneurs.