About VETS

The Veterans Entrepreneurship and Small Business Development Act of 1999 (Public Law 106-50) established an annual government-wide goal of not less than 3% of the total value of all prime contract and subcontract awards for participation by small business concerns owned and controlled by service-disabled veterans.

On December 16, 2003, the Veterans Benefits Act of 2003 (Public Law 108-183) was passed by Congress. Section 308 of the Act established a procurement program for Service-Disabled Veteran-Owned Small Business Concerns (SDVOSBC). This procurement program provides that federal contracting officers may restrict competition to SDVOSBCs and award a sole source or set-aside contract where certain criteria are met.

Presidential Executive Order 13360, signed in October 2004, calls for a significant increase in Federal contracting and subcontracting opportunities for service-disabled veteran-owned businesses. The central feature of the Executive Order calls for all Federal agencies to develop a strategic plan to significantly increase its contracting and subcontracting with small businesses owned and controlled by service-disabled veterans.