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
NORFOLK, Va. -- (Business Wire)
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/
Contacts:
Walmart
Blair Cromwell, 1-800-331-0085
news.walmart.com/reporter
or
Institute
for Veterans and Military Families
Stephanie Salanger, 315-443-5690
ssalange@syr.edu
Source: Wal-Mart Stores, Inc.
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