ASIAN AMERICAN & PACIFIC ISLANDER SMALL BUSINESS OWNERS MEET WITH GOVERNMENT OFFICIALS IN MARYLAND TO DISCUSS THE STATE AND FUTURE OF AAPI BUSINESSES
FOR IMMEDIATE RELEASE
[April 18, 2023]
Contact: Emily Fuder (efuder@nationalace.org)
ASIAN AMERICAN & PACIFIC ISLANDER SMALL BUSINESS OWNERS MEET WITH GOVERNMENT OFFICIALS IN MARYLAND TO DISCUSS THE STATE AND FUTURE OF AAPI BUSINESSES
[April 12, Rockville, Maryland] – The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE), alongside affiliate partners, Asian American Chamber of Commerce and the Yuan Foundation, hosted an AAPISTRONG Small Business Roundtable for Asian American and Pacific Islander (AAPI) small business owners to discuss the current state of business in Maryland.
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 Maryland event is National ACE’s third roundtable this year.
With over 65 attendees, participants discussed the unique challenges facing D.C., Maryland, and Virginia’s residents and small business owners. The conversation explored access to capital, the opportunity to receive government contracts, visibility of small businesses, inaccessible permitting language and procedures, high taxes and fees, and immigration.
April 12, 2023, AAPISTRONG Maryland Small Business Roundtable, Rockville, Maryland
State Delegate Lily Qi addressed her commitment to Maryland’s AAPI small business community: “I believe strongly in unleashing the energy of immigrant communities, especially in entrepreneurship. We want to make sure the place we call home is successful. We are the best of what we have to offer to society. Each of you exemplify the success stories we are proud of, but you are also expanding opportunities for others. I want to thank you for doing what you do and stepping up to be leaders of your community.”
Ashok Kapur, CEO of a local medical equipment supply company, said: “Minimum wages are going up, supplier cost going up, and cost of goods is going up. We are saving hospitalization costs but also keeping seniors/adults healthy and thriving at home so they don't have to go to assisted living services. Medicaid and medicare reimbursements are going down, leaving reimbursements in cash, which presents us with a challenge. We aim to continue to meet the needs of seniors amongst us going forward.”
Nina Un, Strategy Execution Lead II & Diverse Segments Analyst at Bank of America, offers insight into how banks can assist minority groups struggling with accessibility: “Access to capital is what we hear about as bankers, but what aspect of accessing capital are you having difficulty with? Is it not understanding the process or what’s available to you because we have a lot of resources? Is it language access? Do we need to hire more people that reflect the communities we are operating in? With SBA loans in particular, on the private side, we can offer programming, resources, workshops, and access to capital through individual company programs. We support CDFIs that are locally based.”
Chiling Tong, National ACE President and CEO, speaks at the small business roundtable
Joining AAPI entrepreneurs at the event were Secretary of State Susan Lee, Montgomery County Executive Marc Elrich, State Senator Clarence Lam, State Delegate Lily Qi, and Chief Administrative Law Judge Chung Pak.
“Our business community continues to face many challenges. From access to capital and contracts, to capacity building, maintaining sustainability, language accessibility, and discrimination, AAPI entrepreneurs must overcome many barriers when starting, retaining, or scaling their business. 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 to understand the unmet needs of our community so we can find solutions.”
April 12, 2023, AAPISTRONG Maryland Small Business Roundtable, Rockville, Maryland
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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 the Asian American Chamber of Commerce:
The mission of the Asian American Chamber of Commerce (AACC) is to encourage, facilitate and support the economic growth and sustainability of the greater Washington area community by building bridges and serving as a resource for the AAPI business community. AACC achieves this mission through business networking programs, summits, expos, business development workshops, seminars, and other special programs and events.
About the Yuan Foundation:
The Yuan Foundation’s mission is to enrich the United States by encouraging Asian American citizens to embrace their rights and responsibilities, by promoting the founding ideals of liberty and democracy and providing a platform that voices their common concerns and interests.
