Senate Democrats and CAPAC Meet with Asian American Pacific Islander Small Business Leaders
Washington, D.C. , April 24, 2008– Today, Congressional Democrats along with the Congressional Asian Pacific American
Caucus (CAPAC) celebrated National Small Business Week with Asian and Pacific Islander American small business leaders
from across the country.
"Small business owners in the Asian American and Pacific Islander communities face unique challenges in accessing capital,
government contracts and business counseling, particularly with language and cultural barriers," said Rep. Mike Honda, Chair
of CAPAC. "To the country as a whole, this is critical, especially during times of economic uncertainty, as small businesses
create the bulk of our economy’s new jobs. I am very hopeful that today’s forum represents the beginning of an ongoing
dialogue between Congress and Asian and Pacific Islander small business leaders. I would like to thank Speaker Pelosi,
Majority Leader Reid, Senators Kerry, and Cardin, and Democratic Leadership for their continued commitment to this growing
and diverse community. I’m sure all the ideas and concerns we heard today will help us shape sound policies that will not only
benefit this community, but all Americans."
"Today’s discussion was an important step in assessing the need for improving avenues of opportunities for our Asian Pacific
American small businesses," said Rep. Eni Faleomavaega, Vice Chair of CAPAC. "According to the Small Business
Administration, Asian and Pacific Americans rank among the lowest in numbers of total small businesses. Given that there are
15 million Americans of Asian and Pacific descent, we must acknowledge the fact that we continue to face many challenges
because of the vast cultural identity and, importantly, language barrier. This roundtable is an example of the commitment of
the Senate Democratic Leadership and CAPAC to work together hand-in-hand with our small business leaders to create better
policy that will benefit our stagnant economy and all our minority communities."
"I am committed to working with my colleagues on the House Small Business Committee to ensure that small businesses
owned by Asian Americans, Pacific Islanders, and other minorities receive the assistance necessary to grow and succeed," said
Rep. Mazie Hirono, member of CAPAC and the House Small Business Committee. "Small firms generate close to 75 percent of
newly created jobs. Given these difficult economic times, it is crucial for Congress to do what we can to assist the small
business community.”
Small businesses currently employ half of all private sector employees, and have generated more than 60 percent of net new
jobs annually over the last decade. Despite this strength, small businesses and the Small Business Administration have not
been a priority for the Bush Administration. The Administration has consistently worked to increase the cost of small business
loans, cut funding for core small business counseling and entrepreneurial development programs, and failed to enforce small
business contracting goals, especially for minorities, women and veterans.
"With our economy in the midst of a slowdown, strengthening our nation’s small businesses is critical to helping America’s hard-
working men and women," said Speaker Nancy Pelosi. "Small businesses are the backbone of our economy, creating new jobs
and new ideas. Asian American and Pacific Islander (AAPI) small businesses are growing rapidly, representing a wide range of
industries across our country. Today, Democrats held the first AAPI Small Business Forum to hear firsthand the challenges
AAPI business owners face. In San Francisco, many AAPI small business owners do not have access to the resources they
need. Democrats recognize that more needs to be done to improve services to minority-owned businesses and are committed
to ensuring that the American dream is accessible to all."
Senator Harry Reid said, "In Nevada, small businesses are the backbone of our local economy. In our cities and towns these
companies provide employment, important services and foster innovation. In fact, all across America companies like these are
responsible for creating most of the new jobs. It is important to realize that as we celebrate National Small Business Week. It is
also imperative that we focus on the issues before Congress that will help these companies to grow and continue to drive
America’s economic engine. Tough economic times are upon us but small businesses can help lead the way out."
"Now, skyrocketing energy and fuel costs have hit small businesses disproportionally hard. For this country to grow its way out of
our current economic crisis, we need a targeted plan to help small businesses – especially those who are dependent on fuel –
survive these tough times. Small businesses have historically lifted our economy out of hard economic times, but we need to
provide the tools that allow them to concentrate on innovation and growth," said, Senator Benjamin L. Cardin, a member of
the Small Business and Entrepreneurship Committee.
###
The Congressional Asian Pacific American Caucus (CAPAC) is comprised of Members of Congress of Asian and Pacific Islander
descent and members who have a strong dedication to promoting the well-being of the Asian American and Pacific Islander
(AAPI) community. Since 1994, CAPAC has been addressing the needs of the AAPI community in all areas of American life. For
more information on CAPAC, please call (202) 225-2631 or visit http://www.honda.house.gov/capac.
Washington, D.C. , April 24, 2008– Today, Congressional Democrats along with the Congressional Asian Pacific American
Caucus (CAPAC) celebrated National Small Business Week with Asian and Pacific Islander American small business leaders
from across the country.
"Small business owners in the Asian American and Pacific Islander communities face unique challenges in accessing capital,
government contracts and business counseling, particularly with language and cultural barriers," said Rep. Mike Honda, Chair
of CAPAC. "To the country as a whole, this is critical, especially during times of economic uncertainty, as small businesses
create the bulk of our economy’s new jobs. I am very hopeful that today’s forum represents the beginning of an ongoing
dialogue between Congress and Asian and Pacific Islander small business leaders. I would like to thank Speaker Pelosi,
Majority Leader Reid, Senators Kerry, and Cardin, and Democratic Leadership for their continued commitment to this growing
and diverse community. I’m sure all the ideas and concerns we heard today will help us shape sound policies that will not only
benefit this community, but all Americans."
"Today’s discussion was an important step in assessing the need for improving avenues of opportunities for our Asian Pacific
American small businesses," said Rep. Eni Faleomavaega, Vice Chair of CAPAC. "According to the Small Business
Administration, Asian and Pacific Americans rank among the lowest in numbers of total small businesses. Given that there are
15 million Americans of Asian and Pacific descent, we must acknowledge the fact that we continue to face many challenges
because of the vast cultural identity and, importantly, language barrier. This roundtable is an example of the commitment of
the Senate Democratic Leadership and CAPAC to work together hand-in-hand with our small business leaders to create better
policy that will benefit our stagnant economy and all our minority communities."
"I am committed to working with my colleagues on the House Small Business Committee to ensure that small businesses
owned by Asian Americans, Pacific Islanders, and other minorities receive the assistance necessary to grow and succeed," said
Rep. Mazie Hirono, member of CAPAC and the House Small Business Committee. "Small firms generate close to 75 percent of
newly created jobs. Given these difficult economic times, it is crucial for Congress to do what we can to assist the small
business community.”
Small businesses currently employ half of all private sector employees, and have generated more than 60 percent of net new
jobs annually over the last decade. Despite this strength, small businesses and the Small Business Administration have not
been a priority for the Bush Administration. The Administration has consistently worked to increase the cost of small business
loans, cut funding for core small business counseling and entrepreneurial development programs, and failed to enforce small
business contracting goals, especially for minorities, women and veterans.
"With our economy in the midst of a slowdown, strengthening our nation’s small businesses is critical to helping America’s hard-
working men and women," said Speaker Nancy Pelosi. "Small businesses are the backbone of our economy, creating new jobs
and new ideas. Asian American and Pacific Islander (AAPI) small businesses are growing rapidly, representing a wide range of
industries across our country. Today, Democrats held the first AAPI Small Business Forum to hear firsthand the challenges
AAPI business owners face. In San Francisco, many AAPI small business owners do not have access to the resources they
need. Democrats recognize that more needs to be done to improve services to minority-owned businesses and are committed
to ensuring that the American dream is accessible to all."
Senator Harry Reid said, "In Nevada, small businesses are the backbone of our local economy. In our cities and towns these
companies provide employment, important services and foster innovation. In fact, all across America companies like these are
responsible for creating most of the new jobs. It is important to realize that as we celebrate National Small Business Week. It is
also imperative that we focus on the issues before Congress that will help these companies to grow and continue to drive
America’s economic engine. Tough economic times are upon us but small businesses can help lead the way out."
"Now, skyrocketing energy and fuel costs have hit small businesses disproportionally hard. For this country to grow its way out of
our current economic crisis, we need a targeted plan to help small businesses – especially those who are dependent on fuel –
survive these tough times. Small businesses have historically lifted our economy out of hard economic times, but we need to
provide the tools that allow them to concentrate on innovation and growth," said, Senator Benjamin L. Cardin, a member of
the Small Business and Entrepreneurship Committee.
###
The Congressional Asian Pacific American Caucus (CAPAC) is comprised of Members of Congress of Asian and Pacific Islander
descent and members who have a strong dedication to promoting the well-being of the Asian American and Pacific Islander
(AAPI) community. Since 1994, CAPAC has been addressing the needs of the AAPI community in all areas of American life. For
more information on CAPAC, please call (202) 225-2631 or visit http://www.honda.house.gov/capac.
From the desk of U.S. Rep. Mike Honda