WINTER 2022 EX-FORCES ENTREPRENEURSHIP ARMED FOR A FUTURE IN BUSINESS The Federation of Small Businesses offers support and guidance to help service leavers into new opportunities that will benefit them, their families and their communities Setting up and running your own business requires courage, determination and a strong work ethic all attributes associated with service personnel. Which is why self-employment is a route worth considering by those coming towards the end of their time in the armed forces. The Federation of Small Businesses (FSB) has partnered with X-Forces Enterprise (XFE) to launch a free-to-use Knowledge Exchange Hub for the armed forces community. It is a one-stop shop for all things related to selfemployment, and includes peer-to-peer support, free events, and business information. Hub users can also match up with a business captain, who will be an expert in a specific business area and able to offer guidance. Service leavers need new opportunities that are fulfilling and enable them to make a living for themselves and their families. The skills and experience they have gained in the military lend themselves to success in business, whether as owners or employees. They also have the fortitude to excel because of maturity, drive, professional experience and dedication. Employers would benefit from a simplified way of understanding and recognising the equivalence of military skills and civilian qualifications The FSBs report A force for business: service leavers and small business made recommendations for government and others to help service leavers overcome obstacles and succeed in business. These are aimed at enabling veterans to access the full range of opportunities available in smaller businesses or self-employment, and allow employers to benefit from the many advantages of taking on veterans. Small businesses can often be better than bigger ones at spotting and nurturing talent, rather than discarding a service leavers application because some of their skills and qualifications arent necessarily from a traditional academic route. There is room for greater support and advice for service leavers on self-employment, or finding work within an existing smaller business, and there should be more focus on the key skills needed to succeed in enterprise. At the same time, employers would benefit from a simplified way of understanding and recognising the equivalence of military skills and civilian qualifications. Adapting from military to civilian life and work is a big transition, but with the right guidance and support more service leavers could join or set up a small business, bringing vital skills and adding to Britains economic prosperity. As signatories of the Armed Forces Covenant, FSB and XFE have committed to recognising the value that serving personnel, reservists, veterans and military families bring to the UKs small business community. Credit: Karen Woolley, development manager, Federation of Small Businesses Image: iStock / bazzier For further information, please contact your local Trading Standards Service For up-to-date news stories and information, follow us on Anonymous Hotline 0300 303 2636 Is your sector being undermined by unscrupulous traders operating outside the law? Report them via Trading Standards Anonymous Hotline or online and help level the playing field for honest businesses.