Asian American and Pacific Islander Small Business Owners in Salt Lake City Discuss the Various Challenges Facing Local Entrepreneurs

[August 4, 2024, Salt Lake City, UT] – The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE), alongside partner, the Pacific Island Knowledge 2 Action Resources (PIK2AR) and Pacific Island Chamber of Commerce (PICC), hosted an AAPISTRONG Small Business Roundtable for minority small business owners to discuss the current state of business in Salt Lake City.

National ACE works to connect policymakers, corporate partners, and community members to find solutions for the barriers facing minority-owned small businesses. AAPI small business owners and entrepreneurs have often been left out of the discussion when policy makers have adopted policy and legislation that impacts their ability to start, sustain, and grow. 

Participants discussed key challenges they face in the city as business owners and residents. Some of the concerns that were raised included accessing capital in early stages of business development, expanding social media presence, growing audience, leveraging artificial intelligence, bidding on government contracts, and an overall need for mentorship and technical assistance. 

“We need more helpful and effective accelerator incubators. This is where we need to direct our resources. We know this works, we need the funding,” said Jimmy Choi, Owner of Bridge Financial. Similarly, Helen Satele, Owner of Elena’s Elei, said, “what is actually available to help me get capital? Where is the mentorship? I don't understand anything about grants. The forms are so confusing.”

This event took an intimate look at the challenges facing Pacific Islander entrepreneurs specifically. Representing the Tonga Leitis' Association, Joleen Brown Mataele said, “with global warming and climate change, it is very hard for us in the islands, because most of us that live in Tonga use a lot of the raw materials for our decorations, weaving, crafting and arts. In times of disaster, we do not have any backup plan or even a proper storage for all these materials and goods. If it gets wet during the disaster, [the goods] are totally damaged. So we have to start all over again.”

The event was held at the Zions Bank Building, and joining AAPI entrepreneurs at the event were Natalie Nolan, Outreach and Marketing Specialist, U.S. Small Business Administration; and James Jackson III, Director, Utah Minority Business Development Agency Business Center. 

This was National ACE’s twelfth roundtable in 2024. National ACE offers the Capital Readiness Program to further support small business owners seeking funding to grow their business. Through the Minority Business Development Agency, National ACE is providing one-on-one business coaching with little to no wait time for appointments. Clients can expect to get support with their financial documents, business plan, and applying for funding from certified lenders. “We have helped over 300 AAPI small businesses with our personalized business coaching,” said National ACE Vice President of Programs and Marketing Emily Fuder. “And we have connected AAPI small businesses to over $17M in funding this year through our capital partners.” Business owners can learn more at https://www.nationalace.org/capital-readiness-program. 

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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 by supporting and promoting issues that impact the AAPI business community, improving the economic development and economic impact of the AAPI community, advancing coalitions, 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 Pacific Island Knowledge 2 Action Resources (PIK2AR):

Pacific Island Knowledge 2 Action Resources (PIK2AR)  builds alliances, bridges across all communities, providing culturally relevant services to eliminate violence and its effects, increasing income into ethnic and overlooked communities through business, preserving and perpetuating all Pacific Island cultures art forms for empowered positive change for all-around health and wellness.

About Pacific Island Chamber of Commerce (PICC):

The Pacific Island Chamber of Commerce, or PICC, is composed of socially responsible and socially conscious individuals and organizations who, while business-oriented, hold the belief that people and profits are of equal importance. We specialize in helping Pacific Islander Businesses grow and thrive within the community. PICC serves as an education and resource hub for business owners and entrepreneurs of all levels, creating prosperous collaborations with an emphasis on under-served and ethnic communities. PICC offers mentorship opportunities and monthly meetups to network and educate. PICC has chapters in Salt Lake County and Utah County. We are creating a more harmonious business network where mutual support and connection is prioritized to better help our Pasifika community in and around these areas, along with our other underserved peers.

Press Release PDF Available Here.