Conference to strengthen Asian American business
 
By Susan Fong
 
Building a strong platform for economic development requires working together on many levels. 

In Chinatown, the Asian American Alliance Small Business Development Center (AAA SBDC) is helping to publicize a federal government initiative to expand local economic opportunity by presenting the “NEXT” Regional Conference, which will be held Thursday, Nov. 2, at the Chicago Hilton and Towers. Admission is free.

Sponsored in part by the President’s Advisory Commission and the White House Initiative for Asian Americans and Pacific Islanders, the conference will help participants learn about and access government resources.

The NEXT Regional Conference is the first of a multi-city initiative with a three-fold goal to: inform community groups how to get federal faith-based grants; help businesses get federal, state, and local government contracts; and advise how to take a business to the international level.

“Many of our community members didn’t know that these resources existed, which is why these workshops were created,” said Jimmy Lee, executive director of the White House Initiative and former executive director of the Chicago Chinatown Chamber of Commerce.

The President’s Advisory Commission and White House Initiative for Asian Americans and Pacific Islanders exist in part to help government agencies (including the Small Business Administration) further their mission and outreach. Workshops such as the NEXT conference support that goal by promoting economic and community development and providing a testing ground for future programs.

Chinatown’s AAA SBDC works with new and expanding small businesses. It was founded in 1994 by four Asian business organizations from the Chinese, Korean, and Philippine communities.

The AAA SBDC provides business development, financial and marketing advice, and certification assistance. Thanks to one-on-one counseling, the organization can address culture- and language-specific issues.

“In securing outside financing, what we sometimes see are clients who prefer loans from friends and family," said Executive Director George Mui of AAA SBDC. "Here, culture plays an integral role. Yet the unspoken rule is, as a business succeeds, so may come the expectation of an unforeseen increase in the debt to be repaid.”

Chef Denny Wong came to AAA SBDC about his business plan for an upscale takeout food and restaurant emporium through a referral from Moraine Valley Community College. 

“Though I am an English speaker,” Wong said, “the college felt the nuances of the business plan and funding options could be better explained in Chinese. So they sent me here.”

“Whether we are developing a marketing strategy for a $400 million or $100,000 business, it’s all the same," said Mui. "The difference here is in implementation of that strategy.

“For our neighbor, Wang Lam Computer, we helped revise the focus from selling computers to POS [point of service] software sales targeted for the restaurant industry and increased the bottom line,” Mui noted.

Mui represents the new “second generation” Asian Americans who have left corporations and found opportunity in serving their community. Since arriving at AAA SBDC last year, the former marketing director from Lucent has continued to forge partnerships and alliances to support small business.

He is particularly proud of a new two-year joint initiative funded by the federal Department of Labor to offer free classes at the Women’s Business Development Center to 120 Asian American women interested in starting up or expanding their own businesses. Called Working Women in Transition, the program begins this month.

“It’s an exciting time for Asian Americans and Pacific Islanders,” said Rudy Pamintuan, Chairman of the President’s Advisory Commission for Asian Americans and Pacific Islanders. “At no other time has there been such an aggressive outreach effort at the federal level to the local level for the community."

Last year the AAA SBDC secured $5.9 million for nine clients and provided 830 hours of counseling to its 200 clients, 120 of whom were newly recruited.

Deputy Chief of Staff Gene Lee from Mayor Richard M. Daley’s office lauded the AAA SBDC for its successes but noted the organization has only just begun fulfilling its potential.

With limited resources, Mui understands he must build a volunteer base to help expand his organization. He hopes to recruit more volunteers to serve as counselors and fundraisers as well as share their successes, failures, and experiences.

“There is a large untapped resource of highly educated and financially established Asian Americans here,” added Gene Lee, “and the challenge remains in recruiting this talent to work together for the development of the community.”

To learn more about or register for the NEXT Regional Conference on Thursday, Nov. 2, at the Chicago Hilton and Towers, go to http://nextconference.org. For information about Working Women in Transition or other programs and workshops offered through the AAA SBDC, call (312) 225-9320 or visit the office at 2169 B South China Place in Chinatown Square. Further information can be obtained at www.asianamericanalliance.com or by e-mailing sbdc@asianamericanalliance.com.