ASIAN AMERICAN & PACIFIC ISLANDER SMALL BUSINESS OWNERS MEET WITH GOVERNMENT OFFICIALS IN CAMBRIDGE TO DISCUSS THE STATE AND FUTURE OF AAPI BUSINESSES
[December 12, Cambridge, Massachusetts] – The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE) and ACE NextGen hosted an AAPISTRONG Small Business Roundtable for Asian American and Pacific Islander (AAPI) small business owners to discuss the current state of business in Cambridge, Massachusetts.
The AAPISTRONG Small Business Roundtable is an open forum for AAPI business owners in the United States to connect with policymakers, corporate partners, and community members to find solutions for the barriers facing minority-owned small businesses today. The Boston event was the 20th in-person roundtable this year and hosted over 50 small business owners and community leaders.
Joining AAPI entrepreneurs at the event were Mayor of Cambridge Sumbul Siddiqui, Quincy City Councilmember Nina Liang, Boston’s Director of Federal Relations Sam Hyun, and Small Business Administration (SBA) District Director for Massachusetts Robert Nelson. Mayor Siddiqui shared her background as a legal aid attorney providing services to small businesses, and provided information on the City of Cambridge’s ongoing studies on how past discrimination affects the current way goods and services are distributed. All elected officials shared resources for small business owners in Boston and emphasized the importance of consistent political and civic engagement.
Councilmember Liang shared her experience as the daughter of small business owners in Quincy’s Chinatown: “When I was working with our family restaurants, we spent years getting to know the community, hiring locally, engaging nonprofit organizations, donating services and food, and despite all that, when they started doing construction downtown, three of our six restaurants were going to be out of business.”
During and following intimate breakout sessions, small business owners and officials discussed policy interests, including management techniques, technical assistance, access to capital and expansion opportunity, venture capital, and meaningful AAPI representation in government.
Van Tran, Owner/Founder of Notary Approved, shared her challenges going from an employee to a small business owner: “Scaling is a big issue, such as hiring an admin team or a marketing team. We are a top result on the internet for notary services, but I cannot be a marketing manager, a therapist, and an accountant all by myself. Scaling up requires you to trust others, and you need to understand how the mindset of a boss is different than that of an employee.”
Furthermore, Lan Mi of Cobblestone Capital shared the importance of making venture capital more accessible: “Only about two percent of venture capital funding goes to minority or women-owned businesses. This is not representative of the population. We need to get involved [in government], of course, but in the meantime, we need to level the playing field for businesses competing for opportunities, because this is where minority and women-owned businesses get started.”
“Our business community continues to face many challenges. Asian American and Pacific Islander small business owners have battled both COVID-19 and a sharp spike in discrimination and violence. Our policymakers play a significant role in protecting our community, allowing our small businesses to operate safely, and creating prosperity,” said National ACE President and CEO, Chiling Tong. “This conversation will help policymakers understand the unmet needs of our community so we can find solutions. National ACE looks forward to working with our partners in the Boston metro area to advance solutions that will help our economy move forward.”
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About National ACE:
National ACE’s mission is to serve as a strong advocate of AAPI business interests and positive change on all issues that enhance and advance the goals and aspirations of AAPI business owners, entrepreneurs, and corporate leaders. National ACE strives to do this through supporting and promoting issues that impact the AAPI business community, improving the economic development and economic impact of the AAPI community, advancing coalitions and enhancing community building, and fostering the next generation of AAPI entrepreneurs and executives. National ACE provides a unified voice for the business interests of AAPIs nationally. Learn more at www.nationalace.org or www.aapistrong.com.
About ACE NextGen:
ACE NextGen was founded to increase Asian presence in American leadership. Although Asians account for 5.6% of the total population in the U.S., less than 2% occupy leadership positions in politics, business, medicine, academia, and entrepreneurship. ACE NextGen serves as a platform for young Asians to forge their own path towards advancement with the support of a like-minded community. What began as a Boston organization in 2015 is now a national influence advancing the overall status of the Asian community in America. Learn more at ACE NextGen.
