Davids Introduces Bipartisan Bill to Help Veteran Business Owners Succeed

Last week, Representative Sharice Davids (D-KS-03) introduced the bipartisan Successful Entrepreneurship for Reservists and Veterans (SERV) Act alongside her colleagues, Representatives Mark Alford (R-MO-04) and Herb Conaway (D-NJ-03). The bill, which passed the U.S. House in 2023, would help veteran small business owners and entrepreneurs succeed by studying the barriers faced when starting a business. It would also booth the outreach and promotion of existing veteran-focused small business programs to ensure veterans can access all available resources, capital, and credit.

“Because of their service and dedication, there are few people better situated to become entrepreneurs than our nation’s veterans, but they face far too many obstacles when starting their business,” said Davids. “We must do a better job setting Kansas City area veterans up for success, and that’s why I’m honored to lead the bipartisan SERV Act. This bill is a crucial step in identifying solutions so veterans can thrive, take care of their families, and contribute to our local economy."

WATCH: Davids speaks on the U.S. House Floor prior to the SERV Act passing the House in 2023

Davids’, whose mother served in the U.S. army for 20 years, legislation would help study the barriers veterans face when starting a business and improve the accessibility of existing veteran-focused small business programs. Specifically, it:

• Commissions a Government Accountability Office (GAO) report on the ability of veteran and reservist small business owners to access credit.
  • This includes a new analysis on common sources of credit and how deployment and other military responsibilities affect veterans' and reservists' credit.
• Requires the U.S. Small Business Administration’s Interagency Task Force on Veterans Small Business Development to develop an action plan for outreach and promotion of the many programs available to veterans looking to transition into the business world.
• Requires the task force to report annually to Congress on its appointments and outline its plan for outreach on the many programs available to veterans, service-disabled veterans, reservists, and their spouses.

“As members of Congress, we have the duty to protect and support our nation’s veterans,” said Representative Mark Alford (R-MO-04). “This bill is a huge step in doing that. It is a win for our districts, a win for our veterans, and a win for our country. I am proud to co-lead the SERV Act with my colleagues Rep. Conoway and Rep. Davids to promote veteran entrepreneurship.,”

“One of the greatest obligations Congress has is ensuring that the men and women who served our country have all the support they need,” said Representative Herb Conaway (D-NJ-03). “The SERV Act is a significant step forward in providing our nation’s veterans with access to the important small business resources that they need. I am proud to co-lead this legislation with Reps. Davids and Alford, and I look forward to continuing to work with my colleagues to help uplift veterans.”

While military experience provides transferable entrepreneurial training and skills, the number of veterans starting their own business has decreased drastically over the last few decades. Today, only 4.5 percent of the more than 3.6 million veterans who have served since September 11, 2001 have launched a company. In contrast, the number of World War II and Korean War veterans who went on to operate a business was 50 and 40 percent, respectively. Reasons for this decline include challenges accessing credit, transitioning to civilian life, and overcoming stigmas around physical disabilities and post-traumatic stress disorder.

Davids has been a dedicated advocate for the support of Kansas veterans after their return from active duty. Most recently, she helped pass the Honoring our PACT Act, which expands Department of Veterans Affairs' (VA) health care eligibility to 3.5 million American veterans exposed to burn pits and toxic airborne hazards while deployed. 

Davids' office also helps military and veteran constituents access VA health care and benefits and acts as a facilitator between federal, state, and local agencies. For more information on how veterans can receive assistance, constituents are encouraged to visit Davids' website or call her office at (913) 621-0832.