Your business may clearly be veteran-owned, but many applications are denied because of failure to establish control in decision-making and day-to-day management of the business.
The veteran-owner must have full control over the day-to-day management, decision-making, and strategic policy of the business; possess experience needed to manage the business; be the highest-compensated employee (or explain how taking lower compensation benefits the business); devote full-time to the business; hold the highest officer position; and can exercise independent business judgment.
Top Ten Reasons for Denial:
- Full-Time Devotion
- Outside employment impact
- Undue influence
- Day-to-day management and administration
- Control of decision-making, serve as management member
- Managerial experience/critical license
- Profits and distributions
- 51% ownership
- Highest officer position
- Legal organization/licensing
For a complete list of documents required for application – click here. From the drop-down list, choose Sole Proprietor, LLC, Partnership or Corporation