Small business owners gathered at The Cove at UC Irvine on Thursday, Aug. 8, along with local leaders, politicians and two members of President Joe Biden’s administration to talk about how to break through the economic barriers that can face members of Asian American, Native Hawaiian and Pacific Islander communities.
The White House Initiative on Asian Americans, Native Hawaiians and Pacific Islanders hosted the economic summit — the eighth of a series of gatherings that kicked off in January 2023 to connect small businesses with federal resources.
Trade Representative and Ambassador Katherine Tai and Isabel Guzman of the Small Business Administration answered questions from those in the audience, followed by hour-long breakout sessions and networking opportunities.
Peggy Shieh, 65, drove an hour from Los Angeles County to attend the summit in hopes of procuring tips to help her business.
For the past 30 years, Shieh has owned and operated a travel agency, but since the pandemic, she has seen a slowdown in business. Her son recommended the economic summit.
“Business has been slow,” Shieh said. “I’m trying to get information and learn about some resources that can help me run the business.”
Coming to the event, Shieh looked forward to attending the “Roadmap to Accessing Capital” breakout session, where a group of business leaders shared their insights on securing funding for growing businesses.
Dale Ting, 46, was “just hoping to find people that understand what I’m going through,” said the Irvine resident.
Hundreds of small business owners gather at The Cove at UC Irvine for an economic summit hosted by the White House Initiative for Asian Americans, Native Hawaiians and Pacific Islanders on Thursday, Aug. 8 2024. The summit is the eighth of a series of gatherings kicked off in early 2023. (Photo by Victoria Le, Orange County Register)
He has devoted eight years to his e-commerce business, but said it’s a struggle to compete with the bigger name companies and he hoped to meet business owners in similar situations at the summit.
“Maybe I’ll meet somebody who can tell me some tips on how to use these resources,” he said.
Established by Biden in 2021, the White House initiative seeks to address economic barriers faced by these communities. The economic summit was held in partnership with the U.S. Small Business Administration, the Department of the Treasury and other federal agencies.
Tai, co-chair of the White House initiative, attended previous summits held in Atlanta and Minnesota.
“It’s been really fun to go around the country and to see all these pockets of diversity in our community,” Tai recalled.
But she believes these summits are part of a larger picture.
“Even though these summits are for the Asian American community, in our objective to grow the American middle class, we need the entire middle class,” Tai said.
“There is a pathway for every American to grow.”
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