10 years of Evolution for Veterans Business Services
The Veterans Business Services evolution dates to the Veterans Entrepreneurship and Small Business Development Act and a mission promulgated by Congress under P.L. 106-50 which had special provisions and incentives for Service Disabled Businesses. The Veterans Corporation (TVC) was created under the Act.
TVC was defunded by Congress in 2009. Jim Mingey decided to continue its mission privately. He was able to secure funding and make an investment in Prevail Health Systems, a Service Disabled Veteran Owned Business (SDVOSB). The investment would help finance the development of online access to Cognitive Behavior Therapy (CBT)systems. The investment and TVC social media promotion led Prevail to a winning Pepsi Challenge award and eventually provided over 30,000 Veterans access to online CBT services.
VA Changes Self-Employment Rules
The Veterans Administration (VA) clarifies Rule § 21.257 on restrictions for authorizing self-employment. Self-employment as a mode of employment becomes authorized for all program participants for whom it is determined to be appropriate for achieving rehabilitation and not only ‘‘individuals with the most severe service-connected disability(ies) who require self-employment.’’
The Veterans Corporation Goes Private
The VA Rule Change and the Prevail success led to the acquisition of TVC assets by James F. Mingey in 2011 and the formation of VeteransCorp.org. Veteranscorp operates as a free information portal while it searches for a sustainable business model to provide small business services for Veterans,
The TVC acquisition provided a platform for the evolution of a new plan which would support the VA VRE Self-Employment Program as a private continuation of the original P.L. 106-50 mission. VA VRE funded Jim Mingey and his Veteranscorp process software training system to help Veterans acquire franchises and develop self-employment plans.
Jim Mingey was then accepted to Purdue Entrepreneurial Bootcamp for Veterans with Disabilities (EBV)to begin developing formal VBS Business Plan The concept called for a replicable self-supporting VRE Self-Employment consulting business model to help other Service Disabled Veteran entrepreneurs.
The VBS plan developed at EBV commenced in early 2013 and was funded to conduct its Beta over the next 3 years. The Beta became certified by VA as a SDVOSB and became a graduate company of the Veteran Institute of Procurement. The Beta achieved profitability by providing custom marketing support to corporations and educational institutions which subsidized its mission and helped develop experience in providing Feasibility Studies for VA Chapter 31 Self-Employment Plans.
VBS is designated a leading resource and small business consultant in the VA M28R Operating Manual for Self-Employment Procedures. VBS was restructured in Oregon in 2017 as a Certified Benefit Corporation to help connect its mission to local Oregon communities on a state-wide basis.
VBS organized an Oregon Community Public Securities Offering to begin to scale the business VSB model in 2019.