The first-of-its-kind event will connect
veteran, military and military spouse business owners to Fortune
500 companies for procurement opportunities, while providing
entrepreneurial training and resources
Today, Walmart and the Coalition for Veteran Owned Business
(CVOB) are hosting a first-of-its-kind event, VetSource, to support
the success of veteran, military and military spouse-owned
businesses by connecting them to several Fortune 500 companies in
one day for procurement opportunities.
VetSource was created by the Coalition for Veteran Owned
Business (CVOB), part of the Institute for Veterans and Military
Families (IVMF) at Syracuse University, as a unique way to convene
corporations and military entrepreneurs, offering resources both
for those ready to sell their offerings and those interested in
learning how to become procurement-ready. The event includes supply
chain matchmaking opportunities, workshop tracks for veterans with
established businesses as well as those ready to grow and
educational support for attendees following the event.
More than 200 participants are expected to take part in the
inaugural VetSource event held in Norfolk, Va., which includes
keynote speakers and sessions hosted by top Fortune 500
corporations and retail industry leaders, who will introduce the
tools, resources and training opportunities needed to become
successful veteran entrepreneurs. In addition, Sam’s Club is
announcing a $400,000 grant to the SCORE Foundation to support the
2018 American Small Business Championship which celebrates and
recognizes America’s entrepreneurs. The SCORE Foundation is the
charitable arm of SCORE, mentors to America’s small businesses.
Veterans are an important part of the nation’s labor force, both
as workers and as business owners. According to the Small Business
Administration, more than 2.5 million small businesses in the U.S.
are veteran-owned. In addition, veteran-owned businesses generate
more than $1.2 trillion in sales per year and employ more than 5.8
million people in the U.S.
“Veteran-owned businesses are vital for a healthy economy,” said
Maureen Casey, chief operating officer of the IVMF. “By creating
networking opportunities and strengthening business-to-business
commerce between veteran businesses and our corporate partners like
Walmart, we can sustain economic growth and advance the lives of
our nation’s military veterans and their families.”
The CVOB is the first national initiative to provide innovative
solutions and thought leadership to grow and support military
spouse and veteran-owned businesses, entrepreneurs and suppliers by
connecting them with organizations, resources and information. As
the world’s largest retailer and one of the 14 founding companies
of the CVOB, Walmart is uniquely positioned to lead and sponsor the
first VetSource event, encouraging other Fortune 500 companies to
follow suit and source from veteran-owned businesses.
“Many veterans gained important skills and leadership abilities
from their active duty experiences that lead to successful business
ownership, such as strong work ethic, teamwork and adaptability,”
said retired Brig. Gen. Gary Profit, senior director of military
programs at Walmart. “By hosting the first VetSource, Walmart is
convening other corporations and encouraging them to join us in
lending counsel, support and purchasing opportunities that help
veteran-owned businesses grow.”
Walmart has a long history of supporting members of the
military, veterans and their families. As part of its Veterans
Welcome Home Commitment, the company has hired more than 179,000
veterans since the initiative was announced in May 2013, and of
those hires, more than 24,000 have been promoted to jobs of greater
responsibility. Walmart recently announced major changes to its
military leave of absence policy, offering differential pay to
associates for any military assignment, including voluntary service
like basic training, allowing associates who are considering
enlisting in the armed forces to do so without fear of losing
wages. In addition, since 2011, Walmart and the Walmart Foundation
have pledged a total of $40 million for veteran reintegration
programs through 2019 to help address challenges many veterans face
when returning to civilian life.
For more information on the IVMF and the CVOB, visit
ivmf.syracuse.edu and veteranbusinesscoalition.org. For more
information about Walmart’s commitment to veterans, service members
and military families, please visit:
http://corporate.walmart.com/global-responsibility/veterans-military-families/.
About Walmart
Wal-Mart Stores, Inc. (NYSE: WMT) helps people around the world
save money and live better - anytime and anywhere - in retail
stores, online, and through their mobile devices. Each week, over
260 million customers and members visit our 11,695 stores under 59
banners in 28 countries and e-commerce websites in 11 countries.
With fiscal year 2017 revenue of $485.9 billion, Walmart employs
approximately 2.3 million associates worldwide. Walmart continues
to be a leader in sustainability, corporate philanthropy and
employment opportunity. Additional information about Walmart can be
found by visiting http://corporate.walmart.com on Facebook at
http://facebook.com/walmart and on Twitter at
http://twitter.com/walmart.
About the Coalition for Veteran Owned Business (CVOB)
The CVOB is the first-of-its-kind national initiative, which
supports the success of veteran, service member, and military
spouse-owned businesses by connecting them with entrepreneurial
education and training, small business resources and solutions, and
commerce and supplier opportunities. Through the commitment of our
Fortune500 stakeholders and partners, the CVOB aims to increase
opportunities and information for the veteran and military spouse
businesses within corporate supply chains. The CVOB continues to
drive awareness and commerce opportunities for veteran and military
spouse businesses in the public marketplace, create networking
opportunities for veteran-owned businesses (VOB) and large
companies, provide educational resources, and contribute to veteran
and military employment. For more information, please visit:
http://veteranbusinesscoalition.org/.
About the Institute for Veterans and Military Families
(IVMF)
The Institute for Veterans and Military Families (IVMF) is the
first interdisciplinary national institute in higher education
focused on the social, economic, education, and policy issues
impacting veterans and their families. Through its professional
staff and experts, the IVMF delivers leading programs in career,
vocational, and entrepreneurship education and training, while also
conducting actionable research, policy analysis, and program
evaluations. The IVMF also supports communities through collective
impact efforts that enhance delivery and access to services and
care. The Institute, supported by a distinguished advisory board,
along with public and private partners, is committed to advancing
the lives of those who have served in America’s armed forces and
their families. For more information,
visit ivmf.syracuse.edu and follow the IVMF
on Facebook, Twitter and Instagram.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170920005874/en/
WalmartBlair Cromwell,
1-800-331-0085news.walmart.com/reporterorInstitute for Veterans and
Military FamiliesStephanie Salanger,
315-443-5690ssalange@syr.edu
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