National ACE and CAPAW Host Small Business Roundtable: Minority-Focused Support Available for Small Business in Atlanta
April 3, 2024
FOR IMMEDIATE RELEASE
PRESS CONTACT
Emily Fuder: efuder@nationalace.org
National ACE and CAPAW Host Small Business Roundtable: Minority-Focused Support Available for Small Business in Atlanta
[March 28, Atlanta, Georgia] – The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE), alongside affiliate partner, The Center for Asian Pacific American Women, hosted an AAPISTRONG Small Business Roundtable for minority small business owners to discuss the current state of business in Atlanta.
These roundtables are an open forum for minority small 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 Atlanta event is National ACE’s fifth roundtable this year.
With over 60 attendees, participants discussed the unique challenges facing Atlanta’s residents and small business owners. The conversation explored what was going well for local small businesses and what could be improved upon. Business owners celebrated increases in revenue, a general demand for the services they provided, and support for both their businesses and their culture, while also expressing a need for greater access to capital and concerns over scalability for their enterprises.
The federal government is also taking steps to economically empower small businesses in Atlanta. Terri Denison, District Director, U.S. Small Business Administration (SBA), Georgia District Office, shared:“SBA provides resources not only just access to capital but also foundational support in terms of consulting services and education. We also help those who want to enter the federal contracting market.”
Small business owners are looking for local resources and reliable support to grow their businesses in Georgia. Morli Desai, Owner of Amaira Natural Skincare, shared their concerns about cash flow: “I've seen my marketing costs double. It squeezes my margins so cash flow has become a big concern. With the variable interest rate on my [SBA] loan, my interest rates have doubled. So cash flow and [profit] margins have been the biggest concerns that I think about.” Desai participated in the roundtable discussion and met with bankers at the event who provided creative financing options to lower their rates.
Access to resources has been difficult for AAPI small business owners in Georgia, and National ACE is working to fill the gaps for the community. June Jiminez, Owner of Tama Solutions said, “Everyone says these federal, state, and local resources are accessible when they are very hard to access. There are other relationships that you can build with bankers and small business centers, with other people who are doing this work like National ACE that will help you get that mentorship you need to grow.”
Joining AAPI entrepreneurs at the event were Terri Denison, District Director, Georgia District Office, U.S. Small Business Administration; Jennifer Pasley, Project Director of the Georgia Minority Business Development Agency Business Center; and Jason Chan, AT&T, 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 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 Center for Asian Pacific American Women:
In corporate America during the mid to late 1990s, very few AANHPI women were in prominent leadership positions. Stereotypes about AANHPI women, race and sex discrimination, lack of leadership and professional development opportunities, and AANHPI women’s beliefs about their own leadership qualities all created significant barriers to providing a seat for AANHPI women at leadership tables. To address this dearth of AANHPI leadership in corporate America, Martha Lee and 18 other successful Asian American women (who call themselves “the Warrior Sisters”) founded the Asian Pacific American Women’s Leadership Institute (APAWLI) in 1995. The overarching goal of APAWLI was to develop, prepare, and support AANHPI women for leadership roles in the United States. Since then, APAWLI’s signature program has been its training institute, which each year selects a group of outstanding women to embark on an intensive three-week leadership development training course and complete a community impact project that would positively change the lives of at least 25 people.
