Asian American and Pacific Islander Small Business Owners in Los Angeles Meet at the Japanese American National Museum To Discuss the Various Challenges Facing Entrepreneurs
FOR IMMEDIATE RELEASE
July 22, 2024
PRESS CONTACT
Emily Fuder: efuder@nationalace.org
Asian American and Pacific Islander Small Business Owners in Los Angeles Meet at the Japanese American National Museum To Discuss the Various Challenges Facing Entrepreneurs
[July 22, 2024, Los Angeles, CA] – The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE), alongside partner, the Asian Business Association, hosted an AAPISTRONG Small Business Roundtable for minority small business owners to discuss the current state of business in Los Angeles.
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.
Angela Chang, Chief Strategy Officer at KCAL Insurance Agency, shared: “The AAPISTRONG Los Angeles Business Roundtable allowed us, as small business owners, a forum to share our concerns as well as brainstorm ideas with others on how to improve our communities and businesses. It was a great discussion filled with helpful resources.”
The event was held at the Japanese American National Museum, and the hosts from U.S. Bank included George Tanaka, Senior Vice President; Hamed Tavajohi, Senior Vice President, Los Angeles CBB Market Leader; and Boltran Hu, Vice President, Business Banking Sales Manager. Ann Burroughs, President & CEO of the Japanese American National Museum, also addressed the audience at the important event.
Congresswoman and Chairwoman of the Congressional Asian Pacific American Caucus Judy Chu provided special remarks to the audience in her district. “AANHPI small business owners in my district of the San Gabriel Valley have been a pillar of the community, and I feel it’s so important to work with PACE and other local groups to help them especially after a multitude of unprecedented challenges in the past few years—from COVID-19 to the Monterey Park mass shooting. In addition to addressing these challenges, I’ve worked with PACE to successfully establish the Minority Business Development Agency as a permanent entity, which allows small business owners of color to have greater access to the federal resources needed to address the unique barriers they face. I look forward to continue working together to uplift AANHPI entrepreneurs,” said Congresswoman Chu.
Joining AAPI entrepreneurs at the event were Los Angeles City Councilmember John Lee, District 12; Julie Clowes, District Director, U.S. Small Business Administration (SBA); Garrett Gin, Marketing & Corporate Affairs, Bank of America; Priscilla Lim, Executive Director, JPMorgan Chase; Lois Klavir, VP, Sr. Business Relationship Manager, JPMorgan Chase; Valerie Rivas, VP, Small Business Community Officer, Bank of America; Sam Pyo, Executive Director, JPMorgan Chase; and Noe Castillo. VP, Senior Business Consultant, JPMorgan Chase.
Participants discussed key challenges they face in the city as business owners and residents. Some of the concerns that were raised included inflation, language barriers, the cost of labor, access to childcare, and artificial intelligence. The entrepreneurs presented policymakers and corporate advocates with several concrete suggestions. They requested a guide on understanding loans, forms, and documents to be available in Asian languages, and training on how to use artificial intelligence for data security. SBA District Director Julie Clowes then shared how the agency is considering using artificial intelligence to translate its paperwork in order to reach more people.
This was National ACE’s twenty-ninth 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 Asian Business Association:
The Asian Business Association represents Asian American business owners, and creates business opportunities for its members and their diverse communities.
