Asian Business Empowerment Council
Check out the #ShopAAPI Holiday 2024 Shopping Guide!
The Goal: The Asian Business Empowerment Council serves as a platform to increase economic power within the AAPI business community and to address systemic disparities that limit business ownership, growth, and sustainability. ABEC will serve as an organizing force and central hub for entrepreneurs, business owners, advocates, and service providers by advancing four priority areas.
THE ABEC APPROACH
Advocating to expand opportunities for and address concerns common to the Asian American business community in order to promote business success and equitable access to economic prosperity. ABEC will act as a voice for the Asian American business community in creating and sustaining inclusive business, finance and government regulations and pathways, including state and city business opportunities for minority-owned businesses.
Building a community of stakeholders and supporters of Asian American entrepreneurs and small business owners to provide equitable access to business resources and capital for the Asian American business community. ABEC’s interactive collection of resources for Asian American entrepreneurs and small business owners will include nonprofit organizations, financial institutions, established businesses, technical service providers and experienced businesspeople to address issues unique to the Asian American business community, such as access to financial resources, language translation, and navigating government requisition and regulatory processes.
Educating Asian American entrepreneurs through existing programs to grow and sustain their businesses. ABEC will partner with nonprofit organizations, technical service providers and educational institutions to support the educational growth of Asian American entrepreneurs through programs to develop language skills, technical skills, financial acumen, and business knowledge.
Collaborating with other communities of color to amplify equitable change for business owners of color. ABEC will work with other similar organizations serving other communities of color to leverage shared issues and common mindsets to create greater impact for sustainable growth for businesspeople from all communities of color.
Meet the ABEC Executive Director: Qingjian (Q.J.) Shi
On June 1, Qingjian Shi began her role as the first-ever Director of the Asian Business Empowerment Council. Qingjian joins ABEC after serving as Chief Operating Officer and Chief Program Officer at Tech Goes Home, a nonprofit dedicated to bridging the digital divide that posed a significant barrier to opportunity and success for thousands of students, workers, and families.
As Executive Director, Q.J. will shape, communicate, and execute on ABEC's vision to support and empower the Asian American business community and strengthen workforce development opportunities, cultivating and coordinating a vibrant community of business owners, entrepreneurs, service providers, and advocates.
Needs of the AAPI Business Community:
With the wide range of education, language skills, and income levels within the AAPI community, the hurdles to business ownership, growth, and sustainability for Asian entrepreneurs are extremely high. A report in 2019 from the National Coalition for Asian Pacific American Community Development on AAPI small business owners found the most frequently cited barriers to securing mainstream financial capital were poor credit, difficulty in navigating the loan application process, linguistic barriers, and lack of knowledge of capital availability. More than any other racial or ethnic group, AAPIs turn to personal resources, friends, and family for startup business financing, which favors resources for those who have preexisting and personal connections to significant wealth (2018 SBA Office of Advocacy).
Furthermore, the challenges faced by AAPI businesses have been magnified during the COVID-19 pandemic. Many businesses closed, and for those businesses that remained open, the overlapping anti-Asian sentiment and public health concerns caused businesses to suffer significant declines. According to a 2021 report from Boston Indicators entitled Building AAPI Power, an outsized percentage of Asian-owned businesses were represented in higher-risk industries or industries where in-person work was required. ABEC aims to address these systemic disparities by cultivating a strong network of Asian-owned businesses and entrepreneurs, expanding access to technical assistance and growth opportunities, and advancing a unified advocacy voice for AAPI businesses across Massachusetts.
#ShopAAPI Holiday 2024
Thanks for joining us for the 2024 Annual #ShopAAPI Holiday festivities, a vibrant celebration of local AAPI small businesses to kick off the holiday season! To kick off, the AAPI Intergenerational Entrepreneurship Panel explored how values, culture, and approaches to business have evolved. The festive night market featured 40 AAPI-owned vendors with everything from handcrafted goods to pop-up food court treats.
Wednesday, December 11, 2024, 4:30 p.m. - 7:30 p.m.
Read a recap and see photos from the event
The Asian Community Fund’s Inaugural Gala
The Asian Community Fund (ACF) at the Boston Foundation convened more than 550 AAPI leaders, allies, and partners for an evening dedicated to advancing AAPI representation, leadership, and narrative change in Massachusetts. The event featured cultural performances, networking opportunities, a powerful keynote from City of Boston Mayor Michelle Wu, and honored two distinguished changemakers—Geeta Aiyer and Bob Rivers.
Thursday, October 3, 2024, 5:30 p.m. / The Westin Copley Plaza
Read a recap of the gala
The State of AAPI-owned Businesses in Mass.
AAPI businesses are the fastest-growing ownership sector in Massachusetts, yet they continue to be misunderstood and under-supported. The Asian Business Empowerment Council (ABEC) initiated a multi-year study to explore the unique challenges and opportunities faced by AAPI entrepreneurs. This event delved into the study's findings, with insights from community organizations, funders, and AAPI business owners, and engaged a panel of experts to discuss policy and practice strategies for driving change.
Tuesday, September 24, 2024, 10:00 a.m. - 11:00 a.m.
Setting Roots in Rocky Soil: The State of AAPI-owned Businesses in Massachusetts
The Asian Business Empowerment Council (ABEC) at the Asian Community Fund released of a multi-year study examining the complex and diverse challenges and opportunities experienced by AAPI entrepreneurs and engage in conversation around policy and practice strategies for change.
Tuesday, June 18, 2024, 9:30 - 11:00 a.m.
#ShopAAPI Night Market
For one special night only, a roster of AAPI-operated small businesses were on hand at a unique Asian-style night market inside the atrium at 75 Arlington/10 St. James in Back Bay with holiday gifts, delectable treats and other festive items! Continue your holiday shopping and support local AAPI-owned businesses by shopping at these vendors with the #shopAAPI Holiday Shopping Guide linked below.
Wednesday, December 6, 2023, 5:00 p.m. - 6:30 p.m.
Learn more about this public event
Understanding the Asian Business Landscape in the Commonwealth: A Snapshot of Resilience and Impact
This event celebrated the release of a research brief unveiling a snapshot of Asian-owned businesses in Massachusetts. The brief captures the resilience and resourcefulness of Asian entrepreneurs in the Commonwealth and highlights the significant contributions of Asian-owned businesses to the state's economy, which add billions of dollars while facing numerous barriers to accessing services that support businesses.
Wednesday, June 21, 2023, 10:00 a.m. - 11:00 a.m.
Presenting the Voices of the AAPI Business Community
Before a sizeable and thoroughly engaged online audience, the Asian Business Empowerment Council, or ABEC, made its programmatic debut with a lively forum designed to elevate the voices of the Asian American and Pacific Islander (AAPI) business community and a number of panelists in position to collaborate with them.
Thursday, October 27, 2022, 2:00 p.m. - 3:30 p.m.
ABEC Advisory Board
Paul Lee
Retired Partner, Goodwin Proctor LLP
Director, The Boston Foundation
Helen Chin Schlichte
Co-Founder, President Emeritus
South Cove Manor Nursing and Rehabilitation Facility
Stephen Chan
Chief of Staff
Northeastern University
Anu Chitrapu
Senior Vice-President and Global Procurement Executive
Bank of America
Renee Inomata
Partner
Casner & Edwards, LLP
Kimberly Blakemore
Director, Environmental Sustainability
Analog Devices, Inc.
Ben Hires
Chief Executive Officer
Boston Chinatown Neighborhood Center
Jeffrey Hsi, Ph.D.
Shareholder
Wolf Greenfield & Sacks, P.C
Vincent Lau
Managing Partner
Clark Lau LLC
Irene Li
Co-Founder
Mei Mei Restaurant Group & Prepshift
Douglas Ling
Small Business Strong Manager
Local Initiatives Support Corporation (LISC)
Raj Melville
Executive Director
Deshpande Foundation
Daniel Park
Associate General Counsel
TScan Therapeutics
Ed Sevilla
Senior Vice President of Strategic Communications
GG+A | Huron
Sophan Smith
Executive Director, Lowell
EforAll (Entrepreneurship for All)
For more information:
To learn more about how you can participate in building the Asian Business Empowerment Council at the Boston Foundation, please contact ABEC Executive Director Qingjian (Q.J.) Shi at: qj.shi@tbf.org.