Louisiana Launches Business Startup Program For Veterans
BATON ROUGE (AP) — Louisiana has created a program for veterans, aimed at helping them start their own businesses.
The Louisiana Veteran Entrepreneurship Program opened its inaugural boot camp Tuesday with 19 people in Baton Rouge. An estimated 108 veterans are expected to participate in the first year.
The program involves the in-person training at boot camp, an online course and long-term small business counseling. Veterans learn about fundraising, banking, available loans, accounting systems, tax matters and business management skills.
The goal, according to Louisiana Economic Development, is to have at least 30 percent of participants launch their own businesses. The agency partnered with the state's veterans affairs department, the Louisiana National Guard and LSU. Initial financing comes from the economic development department.
More classes are planned for veterans in other parts of Louisiana.
Tentative topics include:
Three-week online course:
• Value proposition
• Customer segments
• Competitor analysis
• Market research
• Distribution channels
• Overview of small business finance
In-person business boot camp:
• Veteran-specific initiatives
• Government procurement assistance
• Small business banking
• Investor prep
• Introduction to local assistance providers
The Louisiana Veteran Entrepreneurship Program is open to Louisiana military personnel (active duty, Reservists and Veterans) who have the intent to start a business.
Interested military personnel should submit an application through the LSU Innovation Park website to be considered for participation in the program. Participants must have access to a computer and internet connection to participate in the three-week online portion of the course and complete assignments.