Accessity-funded businesses Thai Burger Company, Pink & White Nail Spa, Banana Dang Coffee and Ooh La La Dance Academy, Inc.
What business resources are available for Asian American Native Hawaiian and Pacific Islander (AANHPI)-owned businesses? AANHPI-owned businesses have seen the largest decline of all diverse-owned businesses since the pandemic. According to various surveys, the effects of the pandemic on these businesses cannot be understated:
- One in 10 American businesses are AANHPI-owned and have proven to produce the highest average small business receipts of any ethnic group.
- Out of 893 AANHPI small businesses surveyed by National ACE, 4 in 10 businesses report being blamed for the COVID-19 pandemic.
- 1 in 5 businesses does not expect to survive the pandemic.
- 1 in 4 business owners experienced vandalism or threats at their business.
As challenging enough as it is to be successful in business, AANHPI business owners have become discouraged from starting or continuing their businesses because of the surge in over 3,800 hate crimes inflicted on the AANHPI community since 2020.
Fortunately, there are many organizations that exist to help AANHPI business owners with resources to achieve success and to feel supported and valued.
Accessity-funded business Fariner Consulting Engineers
Below is a list of organizations ready to assist AANHPI businesses navigate and succeed in these unprecedented times.
US Pan Asian American Chamber of Commerce:
US Pan Asian American Chamber of Commerce (USPAACC) focuses on underserved and unserved Pan Asian American businesses. Through this collaboration with 14 trusted, culturally, and technically knowledgeable partners, their goal is to connect business owners in those communities with critical services and assistance programs.
Small Business Program:
A program by the National Coalition for Asian Pacific American Community Development (CAPACD), the Small Business Program provides technical assistance, peer-learning, and resources to local programs that support small businesses to preserve our vibrant neighborhoods.
The Calasian Chamber of Commerce
The Calasian Chamber of Commerce creates an inclusive and more resilient California by providing access, education, and opportunities that enable small businesses to increase profits, connect to opportunities and influence local and state policies. This chamber advocates for policies, legislation, and programs that help diverse small businesses reach new markets and expand their operations.
Asia America MultiTechnology Association
Asia America MultiTechnology Association (AAMA) is a nonprofit organization based out of Palo Alto, CA aims to accelerate ideas and collaboration of the AANHPI community. This organization has over 10,000 members in industries such as wireless, telecommunications, semiconductor, software, hardware, electronics, and biotech.
Founders First CDC
Founders First CDC offers various accelerator programs, coaching, and resources for diverse-owned businesses in various stages of business with the goal to help business owners create sustainable business growth strategies. Available in San Diego and Inland Empire. Not for start-up businesses.
Pacific Asian Consortium in Employment (PACE) and the PACE Business Development Center
These are nonprofit organizations that aim to advance the wealth of our communities by giving individuals the tools to develop sustainable businesses and successfully manage their personal finances.
Gold House provides Asian and Pacific Islander (API) entrepreneurs and creators with critical tools, connections, and financing through start-up accelerators and grants.
SCORE, funded by the U.S. Small Business Administration, offers a network of mentors who are experienced entrepreneurs, industry experts, and retired professionals. These volunteers help mentor small business owners. Working with a mentor is free of charge. SCORE also offers workshops and resources.
Chapters throughout Southern California include:
Riverside, San Bernardino Counties, and East San Gabriel Valley – SCORE
San Diego and Imperial Counties – SCORE
Small Business Development Centers
Funded in part by the U.S. Small Business Administration, the SBDC offers free business educational workshops, resources, and one-on-one coaching from consultants who are experts in various areas of business. These business experts can consult on topics such as startups, marketing, and strategic growth planning. Chapters throughout Southern California include:
San Diego and Imperial Network – SBDC
Asian Business Association San Diego
Asian Business Association of San Diego (ABASD) represents the interests of over 30,000 Asian Pacific Islander (API) owned businesses throughout San Diego County. ABASD offers educational workshops, technical assistance, business mentorship, and access to capital to minority-owned small and disadvantaged businesses, entrepreneurs, and start-ups in hard-to-reach communities. It’s programming consistently grows a unique client base through its business advisors and support staff dedicated to one-on-one, low to no-cost consulting.
Asian Professional Exchange
Asian Profession Exchange (APEX) is a Los Angeles–based organization that presents grassroots opportunities for AANHPI-owned business owners and professionals. The group regularly hosts events and seminars to assist Asian American professionals through a network of resources and mentors.
Accessity Academy for Entrepreneurial Success
The Accessity Academy for Entrepreneurial Success (AAES) program is a 10-week series of practical, hands-on training accompanied by one-on-one business counseling. Entrepreneurs will receive access to multiple business resources and experts to help them build thriving businesses. Participants who complete the training will be eligible for up to a $5,000 business loan to cover start-up costs.
Accessity also offers free business educational events and webinars, and a community of business support through local and national partners.
US Government Resources
Small Business Administration
U.S. Small Business Administration (SBA) is the only cabinet-level federal agency fully dedicated to small businesses. The SBA provides counseling, capital, and contracting expertise. It is the nation’s only go-to resource and voice for small businesses.
Minority Business Development Agency:
Minority Business Development Agency (MBDA) part of The U.S. Department of Commerce, is the only federal agency solely dedicated to the growth and global competitiveness of minority business enterprises.
Business Loans for AANHPI-owned Businesses
Accessity’s mission is to open the doors of financial opportunity to entrepreneurs of color through small business loans up to $100,000 with flexible lending requirements. We have assisted thousands of diverse entrepreneurs in acquiring business capital, education, and resources.
If you are interested in applying for a small business loan, get connected to a member of our team.