ASIAN AMERICAN & PACIFIC ISLANDER SMALL BUSINESS OWNERS MEET WITH GOVERNMENT OFFICIALS IN DALLAS TO DISCUSS THE STATE AND FUTURE OF AAPI BUSINESSES

FOR IMMEDIATE RELEASE

January 29, 2024

Contact: Emily Fuder (efuder@nationalace.org)

[January 29, 2024, Dallas, Texas] – The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE), alongside affiliate partner, US-China Chamber of Commerce Dallas, hosted an AAPISTRONG Small Business Roundtable for Asian American and Pacific Islander (AAPI) small business owners to discuss the current state of business in Dallas, Texas. 

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 Dallas event is National ACE’s first roundtable of several planned this year.  

With over 40 attendees, participants discussed the unique challenges facing Dallas’s residents and small business owners. The conversation explored the visibility of small businesses, anti-AAPI discrimination, access to capital, diversity/equity/inclusion (DE&I), high taxes and fees, and immigration. 

Mayor John Muns of Plano addressed his commitment to Dallas-Fort Worth’s AAPI small business community: “All of your stories warm my heart. That you’re here, that you're doing well, and spreading the word. Diversity, equity, and inclusion are our strengths here in Plano, Frisco, and other areas of [Dallas-Fort Worth]. More and more businesses are coming to this area because of our dedication to opportunity, education, and safety. We do hope this conversation continues.”

As the pandemic wanes, Dallas’ regional financial institutions shared how capital has become harder to acquire. Micah Mendoza, the Senior Vice President of Frost Bank in Irving, Texas said: “We still offer personal loans [to small business owners] while other banks have stopped providing this option. Small business owners are seeing challenges in the increased interest rate environment [where] interest rate loans have tripled compared to a few years ago. It is even hard to find employees who want to work.”

Joining AAPI entrepreneurs at the event were Mayor John Muns, City of Plano; Thear Suzuki, EY, National ACE Board Chair; Jimmy Ferguson, J-C’s McD’s Ltd., National ACE Policy Committee Chair and Board member; and Karen Ideno, Toyota, National ACE Board Member.

“Even when faced with barriers, from access to capital to capacity building, AAPI entrepreneurs have one of the highest rates of business ownership and employ over 5 million people, enriching their local neighborhoods and fostering an overall estimated buying power of $1.6 trillion," said National ACE President & CEO, Chiling Tong. "Our policymakers play a significant role in creating an environment in which our entrepreneurs and job creators can continue to thrive. We look forward to more conversations to understand the needs of our community and strengthen the resilient AAPI entrepreneurs across the country."

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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 US China Chamber of Commerce:

USCCC is a non-profit organization that has strived to bolster trade and business connections between China and the US since its founding in 1994. USCCC annually hosts networking opportunities to help members find inter-continental associates and investments. The USCCC Dallas has become the most prominent organization for local Chinese American small business owners in the Dallas/Fort Worth metroplex.