Go to the SBA

The United States Small Business Administration (SBA) offers a plethora of resources for the small biz owner facing his own military deployment. First things first: even if you don’t know of immediate deployment orders, it’s essential to develop your company’s “Small Business Mobilization Plan” to prepare your employees – and your business – for the possibility that you’ll be deployed at any time. One of the top resources offered by the SBA is the Military Reservist Economic Injury Disaster Loan program (MREIDL), for which your business may qualify if one of your “essential” employees – including you, the owner – has just been deployed by the military, and because of that employee’s absence, your company is now unable to meet its operating expenses.

I recommend: Check out the Small Business Administration’s (SBA’s) Office of Veteran’s Business Development for links to many valuable resources, including helpful hints to prepare your mobilization plans. Check out the SBA’s MREIDL loan page to learn more about the requirements, loan amount limits, loan specifics, and much more.

Groom your key employee(s) to run the business in your absence

Your key employees should not have to learn by trial and error in your absence. Do everything you can in advance to prepare your employee(s) for the overall management of the business.

I recommend: You can’t go wrong by heading to the Service Corps of Retired Executives (SCORE) for help and advice from the experts who know business. There, you can get free online or face-to-face business counseling. Prep your key employees for your possible absence by training them through free online business management courses. 

Surround your business with support

When a small business owner is deployed to another country by the military, even the most well-prepared businesses can flounder without the owner there. In addition to grooming your top employees to take over, it’s time to reach outside your company to the many (often free) resources and support available to small businesses.

I recommend: Go to the Small Business Development Centers (SBDC) to click on your state, and find a goldmine of resources for your business – everything from training seminars to low or no-cost counseling services, to online resources and a resource library. Visit Online Learning for a list of state-specific online courses offered near you.

Handling your business upon your return

Deciding what to do about your business when you return to civilian life – whether that decision is to close the business, declare bankruptcy, or restart the business – depends on your ability to assess where the business stands, and get the advice of pros in handling this situation.

I recommend: Go to the Veteran’s Small Business Resource Guide and scroll down to page 7 to use the “Getting Back to Business Checklist” – a critical resource for the returning small business owner. After you’ve returned home, assess the benefits for which you qualify under the Soldiers’ and Sailors’ Civil Relief Act of 1940.