Finally, there is more help for veterans.
Bob Casey, D-Pa., and Marco Rubio, R-Fla. just announced the Help Veterans Own Franchises Act. The bill would create a tax credit for veterans or their spouses who purchase a franchise. The tax credit would amount to 25 percent of the total franchise fee up to $100,000.
Casey said that one in seven franchise businesses in the U.S. are owned by military veterans.
Of the 205,000 veterans who have served since 9/11, 9.5 percent are unemployed, according to the U.S. Bureau of Labor Statistics. That’s 2 percentage points higher than the 7.5 percent national unemployment rate.
More Help For Veterans That Want To Purchase Franchises
The U.S. Small Business Administration (SBA) has just announced the SBA Veteran Pledge Initiative, a commitment by its top national, regional and community lenders to collectively increase their lending activity to veterans by five percent per year for the next five years.
That should go a long way in helping our military veterans secure loans for franchise opportunities that they’re thinking of owning. Our veterans need more help, for sure.
It’s not like they have a lot of money to invest.
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Let’s do whatever we can to help our veterans go into business for themselves.
If you’re a veteran-and you’re thinking of purchasing a franchise, read this article on the VetFran website.
One more thing: If you’re a veteran, I’d like to help you become an educated franchise business buyer. That’s why I’ve been giving away my popular eBook on properly choosing and researching franchises to any US military veteran who wants it for the past two years.
It’s my way of thanking you for your service to our country.
Go here to grab it.