Veteran-Owned Small Business (VOSB) is a term used in procurement to refer to a small business that is at least 51 percent owned, managed and controlled by one or more veterans of the U.S. military. VOSBs are eligible to receive certain benefits when bidding on federal government contracts, including a competitive edge over other businesses in the procurement process. To be considered a VOSB, a small business must meet the requirements outlined in the U.S. Department of Veterans Affairs regulations related to veteran ownership and control.