VARIABLE COSTS Those costs of doing business such as cost of goods, shipping, handling and storage, sales commissions, etc., which are directly related to the sales of goods or services.

VENDOR IDENTIFICATION PROGRAM (VIP) The Vendor Identification Program (VIP) assists small businesses by identifying government purchasers for the items they produce for large defense contractors. The program helps the U.S. Small Business Administration (SBA) to increase competition by adding qualified sources to bidder lists and creating prime contracting opportunities for small businesses. Through the Vendor Identification Program, SBA matches the past procurement history and acquisition needs of the government and identifies the actual manufacturer of systems, subsystems, components, and spare parts. This expedites the procurement process and facilitates the participation of small businesses as prime contractors.

VENTURE CAPITAL Money used to support new or unusual commercial undertakings; equity, risk or speculative capital. This funding is provided to new or existing firms that exhibit above-average growth rates, a significant potential for market expansion and the need for additional financing for business maintenance or expansion.

VIP See Vendor Identification Program.

VSB – Very Small Business Program The Very Small Business (VSB) program is an extension of the small business set-aside program, administered by the U.S. Small Business Administration (SBA) as a pilot to increase opportunities for VSB concerns. Procurement requirements, including construction requirements, estimated to be between $2,500 and $50,000 must be reserved for eligible VSB concerns in designated pilot SBA districts.