COLORADO SPRINGS — Many veterans here in the Springs want to start their own businesses after making the transition from the military.
Today News5's Piper Vaughn learned about a resource in our community that works to help them make that dream a reality.
"We already know how to manage teams. Stepping into running your own business is not an easy transition, but it's a known transition. Trying to fit back into the civilian world, we were never taught to live in the civilian world," said Sam Westfall an Army Veteran and Founder and CEO of Valor Archery Challange
Sam Westfall is an Army veteran. After transitioning from his time in the service, he wanted to start his own archery business. With help from the Veterans Business Outreach Center he was able to do that.
"They've got wonderful resources, wonderful mentors that you can reach out to and ask questions, and they’ll point you in the right direction," he said.
VBOC's mission through education is to ensure veterans are able to successfully start and keep their own businesses.
Alex Stoen, a Navy veteran, was able to start his own drone company with support from the Outreach Center. He is now the CEO and Founder of his own drone company.
"I feel there isn't a difference which branch you serve. It's so important to help each other as veterans. Some people may be struggling, some others may have a lot of experience, and so being able to help each other out, to me, that is something very important and dear to my heart," he tells News5.
The director of VBOC tells me with tax season underway, it’s important for new business owners to know what resources are available as they navigate filing for the first time.
"How is structuring my business in a certain way going to impact that tax burden? And where are those resources that I have to turn to so they can connect with a qualified accountant who understands the difference between a business tax return and a personal tax return? How can I make sure that when I’m setting up the structure of my business, I’m protecting my personal assets and keeping those business assets separate?," he said.
Watch the full story above.
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