webmasterSeptember 6, 2016September 6, 2016Last June, The Supreme Court of the United States ruled that the U.S. Department of Veterans Affairs needed to set aside more contracts for veteran-owned small businesses, like Hartford Technology Rental.The case concluded that veteran-owned businesses should get the edge if:businesses are bidding on the contractThe winning bid is fair and reasonableThe offer is in the best interest of the United StatesIn addition, last November, the House of Representatives voted to amend the Department of Transportation’s definition of Disadvantaged Business Enterprises to include Veteran-Owned Small Business Concerns. This was amended because the House passed The Fairness to Veterans for Infrastructure Investment Act of 2015 the same month. However, the act has not passed the Senate and it has a 15% projection rate of becoming a bill.In Connecticut, veteran-owned businesses receive a 15% preference on bidding for state contracts under legislation unanimously approved Wednesday in the state Senate.While all this sounds terrific, you need to know exactly what a Veteran-Owned Business is and why you should consider doing business with one, even if your business is not a governmental agency.What is a Veteran-Owned Small Business (VOSB)?The U.S. Department of Veterans Affairs, states this type of business is:51% is owned by one or more veteransManaged by veteran owners who have full decision-making authority and day-to-day operations within the businessPositioning the vet as the highest officer positionGiving the veteran the highest compensation unless there’s a logical explanation otherwiseWhy support VOSBs?When you support Veteran-Owned Small Businesses, you accomplish three things:Provide ongoing support for U.S. veteransBenefit from the work ethic of those vets, andEncourage others businesses and governmental agencies to support VOSBs through your exampleWhy Many VOSBs also become GSA contractorsThe General Services Administration (GSA) is an independent agency of the United States government that manages and supports federal agencies through long-term and short-term contract.In order to be a GSA contractor, a business must be:Financially stable, with at least $25,000 per year in revenueIn business at least 2 years in businessProducing products (or services) that are commercially availableCompliant with the Trade Agreements ActThe GSA contract process allows small businesses to adequately compete against large ones.Hartford Technology Rental – A Veteran Owned CompanyWhether you need to rent a laptop, scanner, or AV equipment, we have the equipment you need. We are an approved GSA contractor for short-term rentals and our expert staff will help you obtain exactly what you need at an excellent price. Call us at 888-520-5667 to learn about our product and service offerings!