Press Releases

Washington, D.C.–Today, the U.S. House of Representatives passed Representative Mark Alford’s (MO-04) bipartisan Successful Entrepreneurship for Reservists and Veterans (SERV) Act. Introduced alongside Representatives Herb Conaway (D-NJ-03) and Sharice Davids’ (D-KS-03).

This bipatisan bill aims to help veteran small business owners succeed by identifying the challenges they face and improving access to existing programs to ensure they can grow their businesses and create jobs. 

“I’m proud our bipartisan SERV Act passed the House with overwhelming support,” said Congressman Mark Alford. “This commonsense legislation will help veteran small business owners and entrepreneurs succeed. By studying the barriers our heroes face when starting a business, we can identify and eliminate roadblocks to accessing affordable credit and capital. I thank Reps. Davids and Conaway for their partnership on this endeavor and urge the Senate to quickly take up this bill.” 

 "Veterans have the skills and dedication to build successful small businesses, but they need better support when transitioning from service to entrepreneurship," said Rep. Davids. "As the daughter of a veteran, I’ve seen firsthand the commitment and resilience they bring to everything they do. I'm proud to work across party lines to ensure veterans can access the resources they deserve and overcome the challenges that stand in their way."

“For many of our nation’s veterans, transitioning back to civilian life can be daunting—especially for those seeking to start their own small business," said Rep. Conaway. "The SERV Act is a bill that will provide robust support for veteran small business development and help veterans achieve their entrepreneurial goals. Thank you, Rep. Davids, for your leadership on this bill. I’m pleased that this legislative initiative has passed the House, and I encourage the Senate to take up this legislation swiftly so we can get this bill signed into law.” 

Background:

Rep. Alford and his colleagues introduced the SERV Act to study the barriers veterans face when starting a business and improve the accessibility of existing veteran-focused small business programs, ensuring they can access the resources, capital, and credit needed to succeed. The bill previously passed the U.S. House in 2023 and 2019 with wide bipartisan support. This year’s version now awaits a vote in the Senate. 

Specifically, the SERV Act: 

Commissions a Government Accountability Office (GAO) report on the ability of veteran and reservist small business owners to access credit.

• This includes a new analysis on common sources of credit and how deployment and other military responsibilities affect veterans' and reservists' credit.

• Requires the U.S. Small Business Administration’s Interagency Task Force on Veterans Small Business Development to develop an action plan for outreach and promotion of the many programs available to veterans looking to transition into the business world.

• Requires the task force to report annually to Congress on its appointments and outline its plan for outreach on the many programs available to veterans, service-disabled veterans, reservists, and their spouses. 

While military experience provides transferable entrepreneurial training and skills, the number of veterans starting their own businesses has decreased drastically over the last few decades. Today, only 4.5 percent of the more than 3.6 million veterans who have served since September 11, 2001 have launched a company. In contrast, the number of World War II and Korean War veterans who went on to operate a business was 50 and 40 percent, respectively. Reasons for this decline include challenges accessing credit, transitioning to civilian life, and overcoming stigmas around physical disabilities and post-traumatic stress disorder.


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