POLICY AGENDA 2023

National Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship

POLICY AGENDA

Letter from Leadership The National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship (National ACE) represents the collective voice of 2.65 million Asian American and Pacific Islander (AAPI) small business owners in the United States.

Since our founding ten years ago, our goal has been clear: to improve the economic, social, and political well-being and prosperity of AAPI small businesses and entrepreneurs. We do so through forging strong, nonpartisan relationships with Members of Congress, the White House, business leaders, and the public and private sectors. We advocate tirelessly for AAPI business interests nationally, advance coalitions, build community, and foster the next generation of AAPI entrepreneurs and leaders.

In this policy agenda, we highlight National ACE’s leadership in public policy as well as the most pressing legislative priorities impacting the AAPI community today. With the release of this publication, we hope to continue a dialogue on the evolving policy needs of AAPI entrepreneurs.

We also hope to engage with new partners in public and private sectors to reach equitable solutions that will enhance the safety, growth, and success of AAPI businesses.

The 2023 Policy Agenda is an extension of the advocacy that National ACE has led since the last publication in 2022. Topics include familiar subjects such as access to capital and anti-AAPI discrimination, while exploring subjects that deserve more attention, like mental health and supplier diversity. We draw our priorities from our national and regional survey findings as well as our AAPISTRONG Small Business Roundtables across 22 cities in 2022.

As lawmakers look towards recovery, the contributions of AAPI entrepreneurs must not be forgotten.

AAPI entrepreneurs are no strangers to hardship. In the face of economic struggle, they share an underlying belief that despite everything, their business will survive. Survey after survey reveals their resilience that allows them to persevere through unprecedented setbacks.

Contributions of AAPI entrepreneurs must be recognized through policies that foster a conducive environment for their health, success, and expansion. We look forward to accomplishing this through meaningful collaboration with leaders in the public sector.

We stand ready to engage in the policy discussion which will incite positive change for our community.

Chiling Tong President & CEO National ACE

Thear Suzuki Chair, Board of Directors National ACE

Jimmy Ferguson Chair, Policy Committee National ACE

NATIONAL ASIAN/PACIFIC ISLANDER AMERICAN CHAMBER OF COMMERCE & ENTREPRENEURSHIP

About Us National ACE was established in 2012 to represent the business interests of Asian Americans and Pacific Islanders and to improve their economic and social well-being. National ACE works with policymakers, business leaders, and private and public sector stakeholders to advocate for policies that ensure a healthy and fruitful entrepreneurship environment for AAPIs and communities everywhere. This publication builds upon previous issues from 2014, 2017, 2019, and 2021-22 and continues to set forth legislative priorities that aid our mission of uplifting AAPI business owners and entrepreneurs.

Core Values and Strategies Deliver Powerful Advocacy Represent the united voice of the AAPI business community and advocate for policy priorities that support our community by working with national, state, and local lawmakers in a nonpartisan approach.

Provide Business Solutions Connect local and regional AAPI Chambers of Commerce, strategic partners, and other stakeholders across the country and provide innovative business solutions through quality programs and services.

Increase Economic Opportunities Contribute to our nation’s economic growth, business development, and government efficiency by supporting programs and policies that create more AAPI business owners, entrepreneurs, and corporate leaders.

Maintain Organizational Sustainability Build and operate a strong and sustainable organization recognized by peers and policymakers alike as an effective, high-performing representative of the national AAPI business community.

Nur-E Farhana Rahman Owner of Korai Kitchen New Jersey

Wing Wei Mui Owner of Republic Cafe Oregon

Ronald Hsu Owner of Lazy Betty Georgia

We advance Asian American and Pacific Islander business owners.

One voice for the AAPI business community — building capacity and fostering economic development through advocacy, partnerships, and programs.

Background Asian Americans and Pacific Islanders make up the fastest growing ethnic group in the United States. AAPIs comprised around 39% of all new people who became lawful residents in the United States in 2020. Asian countries send more immigrants to the United States than any other continent. The overall AAPI population grew from 18.5 million to 25.6 million between 2010 and 2020, and is projected to become the nation’s largest immigrant group by 2060 at 46 million.

As of 2020, AAPIs make up about 7.4% of the population in the United States. AAPIs hail from over 40 different countries in the Pacific Islands, East Asia, Southeast Asia, South Asia, Central Asia, and West Asia.

Around 57% of Asian Americans and 71% of Asian American adults were born in another country. They possess an incredible variety of backgrounds, with hundreds of ethnicities, religions, cultures, languages, and dialects represented, which also often overlap. AAPIs compose one of the most diverse demographic groups in the United States.

As will be evidenced throughout this policy agenda, AAPIs make critical contributions to their communities, local economies, and country through their businesses. In the face of the pandemic, many AAPIs have faced high levels of discrimination and violence. Even though AAPIs continue to make important contributions to American society, many have lost their business, income, and in some cases, a safe place within their communities. For this reason, and many others, it is vital to pay attention to AAPIs in policy discussions as we strive for an equitable economic recovery.

1 in 10 businesses are AAPI-owned.

Asian Americans & Pacific Islanders

By The Numbers

2.65 MILLION FIRMS ASIAN AMERICAN-OWNED

46,000 FIRMS NHPI-OWNED

JOB CREATION Asian American-owned businesses contribute 5.1 million jobs to the economy.

NHPI-owned businesses contribute 54,446 jobs to the economy.

$874.4 BILLION IN ECONOMIC OUTPUT Asian American-owned businesses contribute $863.3 billion in economic output.

In 2021, the median household income for AAPI households was $101,418 and $70,784 for the U.S. population.

NHPI-owned businesses contribute $11.1 billion in economic output.

Median household income in American Samoa did not change much from $28,539 (in 2019 inflation-adjusted dollars) in 2009 to $28,352 in 2019.

VOTING AND REPRESENTATION

$1.3 TRILLION BUYING POWER The top three AAPI consumer markets are in California ($439 billion), New York ($109 billion), and Texas ($100 billion).

MEDIAN HOUSEHOLD INCOME

47% increase in voter turnout in 2020 and record gains in 2022 elections.

More than 13.3 million Asian Americans are projected to be eligible voters in 2022, up from 9% from 2018 and making up 5.5% of all eligible voters.

As of 2020, the majority of Asian American eligible voters (56%) live in only five states: California (4.2 million), New York (1.1 million), Texas (930,000), Hawaii (565,000), and New Jersey (505,000).

AAPI WOMEN 30% of NHPI firms and 28% of AA firms are owned by women.

Between 2018 and 2019, NHPI women-owned businesses grew by 70%, and Asian American women owned-businesses increased by 63%.

In 2019, there were an estimated 12.7 million AAPI women— nearly 11.9 million Asian women and almost 803,000 NHPI women—living in the United States. Together, these women represent almost 3.9% of the U.S. population.

POVERTY Most Asian origin groups had poverty rates that were as high as or higher than the U.S. average in 2019.

In 2019, the U.S. Census Bureau reported that 14.8% of NHPIs, in comparison to 9.0 percent of non-Hispanic whites, were living at the poverty level.

EDUCATION In 2019, 88.7% of NHPIs, alone or in combination, had high school diplomas or higher, as compared to 93.3% for nonHispanic whites.

23.8% of NHPIs had a bachelor's degree or higher in comparison to 36.9% of white respondents.

7.4% of NHPIs have obtained graduate or professional degrees in comparison to 14.3% of whites respondents.

29.7% of NHPIs speak a language other than English at home.

National ACE’s Engagements National ACE President & CEO, Chiling Tong: Current Committees Council on Underserved Communities (CUC): The CUC has been tasked with providing the Small Business Administration with input, advice, and recommendations on strategies that strengthen the minority small business community.

Treasury’s Advisory Committee on Racial Equity (TACRE): The TACRE is a newly established advisory committee that will identify, monitor, and review aspects of the domestic economy that have directly and indirectly resulted in unfavorable conditions for Black, Latino, Indigenous, Asian American, Pacific Islander, and other communities of color.

Convenings Organized by National ACE Listening Session with Deputy Secretary of Commerce Don Graves to discuss access to and awareness of capital opportunities for minority-owned businesses.

AAPI Heritage Month Discussion with Deputy Secretary of the Treasury Wally Adeyemo.

Heritage Month Business Summit with Vice President Kamala Harris in 2022 and Secretary of the Treasury Janet Yellen in 2021.

Stakeholder Meeting at the White House with Deputy Assistant to the President & AA and NHPI Senior Liaison Erika Moritsugu, Senior Advisor Michael Negron, Executive Director Krystal Ka’ai, and Deputy Assistant Secretary Michele Chang.

22 AAPISTRONG Small Business Roundtables, bringing together AAPI business owners, local leaders, and policymakers in cities across the country.

National ACE Grant Making to Build Up AAPI Entrepreneurs Since 2020, National ACE has worked with private sector partners, including Grubhub, Reimagine Main Street, Verizon, Meta, and Google Nest to provide 489 grants totaling $6.5 million. These grants have helped AAPI entrepreneurs grow and scale their businesses through arduous times.

Key Advocacy National ACE wrote a letter with the U.S. Black Chambers, Inc. and the U.S. Hispanic Chamber of Commerce to urge Congress to ensure that the Minority Business Development Agency receives its full funding as authorized by the President.

National ACE joined the diverse business community to support the nomination and confirmation of Associate Justice Ketanji Brown Jackson to the Supreme Court.

National ACE released statements on and was invited to participate in the White House signing ceremonies of the Inflation Reduction Act, the Bipartisan Infrastructure Law, the Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act, and the AAPI Museum Bill.

National ACE rallied the business community to urge Congress to pass the COVID-19 Hate Crimes Act. Annual Conference In September 2022, National ACE hosted its first in-person conference since the pandemic began, We were proud to host over 500 AAPI leaders, policymakers, stakeholders, and business owners. The conference focused on the current state of AAPI small businesses and fostering a fruitful business environment for AAPI entrepreneurs. Speakers included SBA Administrator Isabel Guzman, Deputy Secretary of Minority Business Don Cravins, Congresswoman Judy Chu, Congressman Kai Kahele, Congresswoman Pramila Jayapal, Congressman Mark Takano, and Congresswoman Amata Radewagen.

Legislation to Know The last two years have been marked by significant legislative action, including the passage of laws to address the nation’s crumbling infrastructure and domestic manufacturing capacities. Below are some of the most significant bills supported by National ACE.

The Inflation Reduction Act:

The Inflation Reduction Act (IRA), signed into law by President Biden on August 16, 2022, marks the first ever major law to address the impacts of climate change, lower the cost of prescription drugs and medical care, and extend Affordable Care Act subsidies. The law doubles the Research and Development Tax Credit for small businesses. Starting in 2023, small businesses may use the credit to further reduce payroll taxes and several other business expenses by up to $500,000 annually.

The CHIPS & Science Act:

The Creating Helpful Incentives to Produce Semiconductors (CHIPS) for America Act (widely known as the CHIPS & Science Act or the CHIPS Act), was signed into law earlier in 2022 and was the result of over two years of negotiations by Senate leadership to address American supply chain disruptions and semiconductor capacity. The law will channel billions of dollars into U.S. semiconductor research and development (R&D) and manufacturing, which will create more jobs and economic opportunities domestically.

The Infrastructure Investment and Jobs Act (IIJA):

The Infrastructure Investment and Jobs Act (also known as the Bipartisan Infrastructure Deal) was signed into law

by President Biden on November 15, 2022. The IIJA is a historic $1.2 trillion investment in American infrastructure, jobs, and community development. It marks the greatest investment in infrastructure in a generation. It directs more than $550 million towards transportation, broadband, and utilities. Through the IIJA, there are millions of dollars available for grants and contracting opportunities, including, but not limited to: Infrastrastructure for Rebuilding America (INFRA) Broadband Equity, Access and Development (BEAD) Digital Equity Grant Middle Mile Program ReConnect Tech Assistance Program Appalachian Regional Initiative for Stronger Economies (ARISE) There are also contracting opportunities available through federal agencies and programs. We encourage you to familiarize yourself with the federal agencies undertaking infrastructure projects (Department of Transportation, Department Energy, Environmental Protection Agency, Department of the Interior, Department of Agriculture, etc.) and to keep an eye on your state and local governments and agencies. The vast majority of infrastructure funding will flow through state, local, and Tribal governments and it will be important to determine which agencies you will need to work with for contracting opportunities. A significant portion of this spending will occur in areas such as air and sea ports, mass transit, roads and bridges, broadband infrastructure, and resilience efforts.

Acronyms to Know AAPI - Asian American/Pacific Islander NHPI - Native Hawaiian/Pacific Islander AA - Asian American

National ACE - National Asian/Pacific Islander American Chamber of Commerce and Entrepreneurship MBDA - Minority Business Development Agency SBA - Small Business Administration

OVERVIEW

2023 Legislative Priorities 01

02

Access to Capital

Collection of Meaningful Data

03

04

Technical Assistance

Digital Equity

05

06

Health Equity

Taxes

07

08

Supplier Diversity

Racial Equity

09

10

Representation & Leadership

Sustainability

ACCESS TO CAPITAL 58% of AAPIs lack confidence that they could increase payroll.

69% lack confidence that they could purchase property or equipment.

More than half lack confidence they could finance a purchase order or contract or get a volume discount on an inventory purchase.

Access to capital is consistently the top concern for minority-owned businesses across economic stability and uncertainty. Access to capital refers to how easily and efficiently businesses can access banking, loans, contracts, grants, and financial support to maintain and expand operations.

Historically, minority-owned businesses have struggled to access the same opportunities that were more readily-available to nonminority-owned businesses. Today, they are still less likely to be approved for small business loans and lines of credit. Even when they get approved, it is often for a smaller amount than they originally requested. According to the MBDA, these patterns and discrepancies prevent minorities from seeking capital when they need it most urgently. This is a major barrier for AAPI-owned businesses, who have faced extreme economic pressure recently, but nevertheless continue to make significant contributions to the national economy, create millions of jobs, and vitalize their local communities.

"Every day throughout the pandemic, we faced new challenges. From 2020 to 2022, our small business endured a break-in, the closing and reopening of our space numerous times, and ongoing staffing challenges. Access to capital through National ACE and the SBA was critical in helping us stay open and even expand our impact.

Small business grants ensured that we were able to pay rent and continue expanding our team. These grant applications were simple, making funds truly accessible without taking energy away from running our business."

Melissa and Lavanya Jawaharlal, Co-Founders, STEM Center USA

2023 Policy Agenda: Access to Capital

AAPI small business owners face unique challenges to capital access, compounded by language barriers, absence of technical assistance, and lack of awareness. In 2022, we gathered data from AAPI entrepreneurs on their barriers to capital, where they are most likely to seek capital, and what actions could be taken to better support them in unlocking these opportunities.

Our data demonstrates that many, and in some cases most, AAPI respondents cannot access the money they need to survive a business emergency, which is especially relevant in today’s volatile climate. They also cannot access opportunities for growth that would take their business to the next level and reach their fullest potential. Capital needs amongst AAPI small business owners are mostly for low-dollar amounts, and could be met by Community Development Financial Institutions (CDFIs) or Minority Depository Institutions, but awareness of these resources is limited.

Public and private sector leaders need to make banking accessible and equitable, spread awareness of capital opportunities, and ensure that AAPI businesses are able to successfully complete applications for funding. We found that 4 in 5 AAPI entrepreneurs have trust in the government and the SBA. Heightened trust creates an opening to connect AAPI businesses to sources of capital and guidance to help them grow, hire, and achieve their American Dream.

43%

44% of AAPI respondents lack confidence to fund an unplanned $5,000 business expense.

2023 Policy Agenda: Access to Capital

were able to get their funding in full, whereas 18% were partially funded and 27% had their request denied.

56% lack confidence that they could fund a marketing campaign.

Over 40% of AAPI small business owners lack awareness of minority depository institutions (41%) and CDFIs (44%).

56% of AAPI respondents in the national survey applied for a loan or other form of credit in the last year. 37% requested less than $25,000 and 56% needed less than $100,000.

CALL TO ACTION Tell your Members of Congress how important it is for your business that the Minority Business Development Agency—the only federal agency solely dedicated to minority business—receives its full funding.

The MBDA runs several meaningful programs and offers grant opportunities for minority owned businesses, and cannot help or reach as many business owners without the proper funding. You can use this tool to find and contact your Senators or Representatives.

COLLECTION OF MEANINGFUL DATA The AAPI community encompasses an incredibly diverse array of backgrounds from across Asia-Pacific.

Over 25 million people compose the AAPI diaspora-– consisting of hundreds of ethnicities, languages, and cultures. This diversity makes it more difficult to collect meaningful data on AAPIs while avoiding generalizations and misrepresentations. Though there are overlaps in the challenges faced by AAPIs, generalized data obfuscates disparities across subpopulations.

There is a misleading narrative that the AAPI community has achieved a higher level of wealth and education than other minorities. This is not only untrue, but it harmfully erases the disparities felt across different populations. For instance: for every dollar the average white man makes, the average Indian woman makes $1.21, the average Taiwanese woman makes $1.16, the average Saoman woman makes .60¢, and the average Bhutanese woman makes .50¢. AAPIs are the most economically divided population in the country, with the top 10 percent earning as much as 10.7x more than those in the bottom 10 percent.

EDUCATION DATA AGGREGATED DATA SHOWS:

More than half of Asians aged 25 and older (54%) have a bachelor’s degree or more education, compared with 33% of the U.S. population in the same age range. This is substantially higher than the share of all U.S.-born people and all U.S. immigrants with a college degree (32% each).

BUT DISAGGREGATED DATA SHOWS:

Indians aged 25 and older have the highest level of educational attainment among Asians, with 75% holding a bachelor’s degree or more in 2019.

Bhutanese adults are the least likely Asian origin group to have a college degree (15%).

POVERTY DATA AGGREGATED DATA SHOWS: Asians are less likely than Americans overall to live in poverty (10% vs. 13% as of 2019).

BUT DISAGGREGATED DATA SHOWS: Mongolians (25%) had the highest poverty rates among Asian groups, while the lowest rate was among Indians (6%).

The generalization of AAPI tends to obscure disparities and intersectionalities within the highly diverse community. For example, Indian Americans had the highest average hourly wage for full-time, year-round workers in 2019 at $51.19, whereas Bhutanese Americans earned about 60 percent less than Indian Americans and half the national average at $15.36 per hour. These differences become even more pronounced when incorporating gender.

HOW ARE THINGS CHANGING? THE STATE SMALL BUSINESS CREDIT INITIATIVE (SSBCI) The Department of Treasury will collect disaggregated demographic information through the SSBCI to measure equity outcomes and expand access to capital for socially and economically disadvantaged (SEDI)-owned businesses. Jurisdictions will report demographic data on race, ethnicity, sexual orientation, and gender identity.

The data will provide an accurate look into how this capital has reached SEDI-owned businesses, and it will help government agencies and the private sector determine where resources are needed most.

NATIONAL ACE’S EFFORTS TO CLOSE THE DATA GAP "The AAPI community is diverse, and we each face unique challenges. For example, I have struggled to secure manufacturing contracts for my halal beauty company—owned by Muslims and serving Muslims consumers. As a Pakistani, Muslim AAPI, my barriers to success differ from those facing other AAPIs. This diversity must be reflected in data so that we may receive appropriate support."

In 2022, National ACE fielded several surveys of the AAPI small business community. We surveyed a total of 700 AAPI entrepreneurs on access to capital, trust in institutions, discrimination, pandemic recovery, and capital expenditure:

Adeel Afshar, Owner, Halal Beauty Cosmetics

Overall Regional and National Survey Findings State of AAPI Business: Overall Findings in California and Texas Trust & Access to Capital

CALL TO ACTION

Encourage your elected officials to model the SSBCI data collection, and push for data disaggregation for federal programs for small business owners.

Respond to National ACE surveys as they arrive in your inbox. These surveys help us communicate your needs to policy makers.

2023 Policy Agenda: Collection of Meaningful Data

TECHNICAL ASSISTANCE AAPIs have long pursued self-employment and business ownership as a pathway to economic prosperity.

This is especially true of new immigrants with fewer opportunities in the labor market. Still, starting a business is fraught with barriers.

Technical assistance (TA) refers to education and guidance to help small business owners navigate essential information—often ‘technical’ and complicated in nature, ranging from credit, to finances, and government regulations—to ultimately fulfill their entrepreneurship dreams. This could include developing a business plan, building a marketing strategy, providing accounting services, or helping with applications for government programs or relief.

For the AAPI community, TA is crucial, given language barriers and lack of outreach by public and private sectors. In 2020, over half of AAPI businesses missed out on pandemic relief because they were not aware or did not believe their businesses qualified. TA is absolutely essential to ensure that AAPI entrepreneurs are not excluded from opportunities and capital that could be life-altering or saving.

"The SBA helped us stay in business, but it was difficult to interpret the available information. Technical assistance was hard to come by, including advice on marketing, finance, legal, labor, and compliance with constantly changing labor laws and government health and safety requirements. The information available is fragmented. Most small business owners don't even know that assistance is available, much less grants."

Catherine and Ulysses Marcelino, Co-Owners, Excel Taekwondo Center

DID YOU KNOW? In 2020, National ACE received a grant from the MBDA through CARES Act to stand up a successful technical assistance program that reached over 16,000 AAPI small business owners and entrepreneurs. National ACE provided guidance and assistance to AAPIs applying to the PPP and EIDL programs, along with loans through their banks.

Strong TA programs can help small business owners grow and scale their businesses into valuable assets long-term. That said, it is important that TA programs be culturally relevant and multilingual to close the access gap. They must be promoted in AAPI languages, so that those who live in predominantly non-English speaking neighborhoods can actually take advantage of them.

With TA, AAPIs can ensure that they are in government compliance, avoid fees and fines, be better positioned to hire, and communicate their barriers to government officials and private sector stakeholders (such as banks, CDFIs, or nonprofits).

AAPI businesses stand to benefit greatly from growth opportunities that could help them hire more workers. Coming out of the pandemic, many AAPI employers have struggled to keep their businesses staffed since 2020. In fact, almost half (42%) of AAPI businesses have reported hiring as a growing challenge and a top barrier to growth.

We hear consistently from AAPI entrepreneurs that they know that resources are available, but they do not know where to find them. We also hear that stakeholders might be interested in reaching the AAPI community, but simply do not have the knowledge on where the businesses are, what they do, and who runs them.

As AAPIs prepare themselves to manage inflation and a tight labor market, TA will be crucial, especially for newer and less established businesses.

Additional TA programs are being announced through the Treasury’s State Small Business Credit Initiative and through the Minority Business Development Agency, and it is important that these programs are translated into multiple languages and promoted to underserved communities.

2023 Policy Agenda: Technical Assistance

Half of Vietnamese and Chinese Americans have limited English proficiency.

20% of Indians and Filipinos struggle with limited English proficiency.

34% of AAPIs have only limited English proficiency.

CALL TO ACTION National ACE calls on government agencies such as the Treasury and Minority Business Development Agency to ensure that technical assistance programs are culturally relevant and accessible to the AAPI community.

These programs must be promoted to the communities that need them in addition to being truly accessible.

DIGITAL EQUITY BIPARTISAN INFRASTRUCTURE LAW - $65 BILLION INVESTMENT TO CLOSE THE DIGITAL EQUITY GAP The prevalence of technology in our daily lives continues to grow. Small business owners must keep up with the latest technology to remain competitive with larger firms and corporations. The foundation for this is a reliable broadband connection, as the latest technology cannot function without a strong Wi-Fi or bluetooth connection.

Access to broadband and digital adoption is a requirement to participate in the modern economy.

That is why National ACE celebrated the investments in broadband infrastructure through the Bipartisan Infrastructure Law (BIL). Through the BIL, the President authorized $65 billion to update, improve, and build the nation's broadband infrastructure to ensure that all Americans can learn, work, and grow their businesses.

AAPIS & DIGITAL EQUITY Given the wide income disparities present within the AAPI community, for many AAPIs, internet access is not readily available. Subpopulations of AAPIs, such as Bhutanese and Mongolian, live in poverty at higher rates than both the general and AAPI populations and are more likely to lack access.

Though the AAPI population generally has access to broadband, access is not equal. Even where there is access, this does not guarantee that there will be digital adoption, due to reasons beyond having a line in the area, such as affordability.

44% of households with an income of less than $30,000 do not have access to broadband.

“Small businesses need an online presence to stay competitive nowadays. Most customers look for products and services on the Internet. Many small businesses are reluctant to create an online presence due to the perceived high cost and technology phobia. A policy centered around advocating for education and resources to support small businesses in this area would be a tremendous help.”

Jeff Thungc, President/CEO, JLT Web Solutions

WHAT IS THE ACP? A benefit that provides a discount of up to $30 per month toward internet service for eligible households and up to $75 per month for households on qualifying Tribal lands. Eligible households can also receive a one-time discount of up to $100 to purchase a laptop, desktop computer, or tablet from participating providers if they contribute more than $10 and less than $50 toward the purchase price.

A major component of closing the digital divide is addressing both access and affordability of access to the internet. After all, broadband towers do not do much good if people cannot afford to pay for the services. National ACE applauds initiatives such as the Affordable Connectivity Program (ACP), which was developed through the BIL. Providers such as Verizon, Comcast, AT&T, and T-Mobile have partnered with the federal government to help roll out the program.

It is also necessary to acknowledge the role that digital tools play in supporting AAPI businesses, especially in an increasingly digital world, to grow their online presence and cast a wider net across their communities.

Getting broadband deployed to unserved and underserved areas will require both public and private investment. This historic investment in the country’s infrastructure creates new opportunities for businesses to grow, explore new areas, and thrive. This is particularly important in the context of the pandemic, which created more challenges than ever for small, minority, and diverse-owned businesses. It will be important for states overseeing broadband development and deployment across the country to consider the benefits of diverse suppliers and vendors who build and maintain networks as part of their digital redlining initiative. This will be key for ensuring that broadband infrastructure and funding is deployed into communities with the most need.

2023 Policy Agenda: Digital Equity

A growing presence of Asian Americans residing in the South (24%), Northeast (19%), and Midwest (12%) of the country will require widespread digital adoption.

97.6% of Americans had access to broadband (lines at their location) but only 77% of American adults said they had a broadband connection at home.

CALL TO ACTION National ACE encourages stakeholders to seek further information on their states' proposals for dispensing BEAD funding.

We also urge states to consider navigator programs and diverse suppliers for broadband projects through IIJA funding, to not only ensure access, but also digital adoption.

HEALTH EQUITY Access to affordable healthcare options is a top priority for AAPI entrepreneurs and their communities.

88% of Asian Americans reported that healthcare is an ‘extremely’ or ‘very important’ issue when deciding how to vote in the 2022 midterm elections. About 43% of Asian Americans said they worry about not having Medicare to cover their health care costs in retirement. AAPI women who immigrated to the United States less than five years ago also face significantly higher rates of being uninsured, compared to non-Hispanic, white counterparts.

The CDC defines ‘health equity’ as “the state in which everyone has a fair and just opportunity to attain their highest level of health”. Gaps in healthcare quality and accessibility reflect disparities in socioeconomic status, racial and ethnic background, education level, occupation, and more. Through elements such as underlying genetic factors, increased exposure, and lack of healthcare, AAPIs find themselves more vulnerable to certain health risks. Increasing access to affordable healthcare options will improve health and quality of life, as well as life expectancy, for AAPI entrepreneurs and their families.

73.1% of AAPI adults with a mental illness did not receive treatment.

NHPIs reported the highest rate of being uninsured for at least part of the year’ in 2021 at 30.7%, compared to 15% for white respondents.

As of 2021, the nonelderly uninsured rate for NHPIs was 22.8% and for Asian Americans was 6%, compared to 11% for white respondents.

One third of non-elderly adults of color are more likely than nonelderly white adults to report not having a usual doctor or provider and going without care.

“People of color make up 40% of the U.S. population, but most medications have been deemed safe for use based on clinical trials that only included 1-5% study participants of color. A challenge I face in my business is engaging our communities to realize the scientific necessity of our inclusion in clinical trials to assure that medicine is safe for ALL communities.”

Bella Tukuafu Johnson, President/CEO, Championing for Diversity in Clinical Research

We are in the midst of an unprecedented mental health crisis. Throughout our roundtable discussions, the need for mental health resources was emphasized by multiple generations of AAPI business owners. From having divided families across continents that they have not seen in years, to dealing with discrimination, failed business, and illnesses, AAPI communities stressed the need for multilingual mental health resources. Furthermore, because AAPI families tend to live in multigenerational households, many are saddled with caregiving responsibilities that are in most cases unpaid.

The pandemic exacerbated the mental and physical toll on caregivers by expanding childcare responsibilities and increasing the need to care for older and sick loved ones as care facilities shut down. Lack of care or treatment for mental and physical health concerns affects jobs performance, productivity, engagement, communication, physical capability, and daily functioning.

AAPI youth, ranging from 15 to 24 years old, are the only racial and ethnic population whose leading cause of death was suicide. At our roundtable discussions, we heard extensively about the mental health fallout of the pandemic.

The Administration has made significant investments in mental health resources. National ACE is supportive of their approach: Expand the mental health workforce and build capacity to meet mental health needs.

Connect more Americans to care by breaking down financial and cultural barriers.

Establish a continuum of care and foster environments that support recovery and wellbeing.

Asian Americans are 3x less likely than their white counterparts to seek mental health help.

2023 Policy Agenda: Health Equity

58% of Asian Americans said that reports of discrimination and violence against Asian people affected their mental health.

Over a third of NHPI (34%) adults, and over a quarter of Asian (26%) adults, reported not having a personal doctor or health care provider compared to 23% of white adults.

CALL TO ACTION Discuss health care and mental health within your companies and with your employees.

Continuing advocating for further investments in the mental health workforce, culturally nuanced health care resources, and making such resources accessible and affordable.

TAXES Taxes have long been a thorn in the side of small business owners. This is not to say that entrepreneurs do not believe in paying their fair share of taxes, but small businesses do not have the same resources as large businesses and corporations to keep track of tax obligations. Taxes can often prove complicated and an administrative burden to starting and operating a business, and small business owners across the country have expressed concern over their ability to keep up with taxes.

COMPLEX TAX REGULATIONS POST SOUTH DAKOTA V. WAYFAIR The Supreme Court case, South Dakota v Wayfair, allows states to charge tax on purchases made from out-of-state sellers even if the seller does not have a physical presence in the taxing state. Since the Wayfair decision, 45 states, including parts of Washington, D.C. and Alaska, have adopted Wayfair laws, requiring remote sellers to collect and pay sales tax based on transactions that take place in their jurisdictions. Each of these states now have what is known as an ‘economic nexus law’, which bases sales tax obligations on remote sellers volume in a state.

Similarly, these states also have marketplace facilitator laws, which shifts the obligation to collect and remit sales tax from the individual seller to the platform facilitating the sale.

There are more than 12,000 state and local tax jurisdictions across all 50 states.

That’s at least 240 per state.

‘I am a small e-commerce business. Since my products are sold to multiple states, complying with each state’s local tax and other laws can be difficult. Any standardization for nexus, sales tax code, labeling laws, etc. would be very helpful.

Also, I would like to see the import tariff eliminated, or at least get some benefits from the proceeds.”

Dale Ting, President/Founder, Wild Ting Enterprises

77% of small business owners reported that federal business income taxes were very or moderately burdensome.

It comes as no surprise that no two states have the same nexus laws, which means that small business owners are responsible for complying with potentially thousands of tax provisions across different states. It is far simpler for larger businesses and corporations to comply with these provisions, but for small businesses who serve as owners, managers, and accountants for their businesses, many may forgo doing business in other states to avoid the headache.

Other burdens for small businesses include franchise taxes, which vary from state to state. This has nothing to do with whether a business is a franchise or not; in states that have franchise taxes, they apply to nearly all businesses. Some states have a flat tax rate while others have different methods for calculating tax obligations. Regardless, franchise taxes can often be prohibitively expensive for smaller businesses, and can be easily missed by entrepreneurs without accountants to ensure tax compliance.

Tax-related issues account for 4 out of 10 of the top issues facing small business owners.

2023 Policy Agenda: Taxes

TAX CREDITS FOR SMALL BUSINESS OWNERS While tax obligations are often complicated, small business owners should seek out small business tax credits. For example, small businesses that qualify can take advantage of the Research and Development (R&D) tax credit that was expanded under the CHIPS & Science Act. Taxes are often complicated, serve as a regulatory burden for small business owners, and can prevent them from engaging in commerce in other states.

National ACE supports tax regulations that simplify tax burdens and makes compliance easier for small business owners.

CALL TO ACTION Urge your federal, state and local officials to consider simplifying tax provisions for small businesses.

Be on the lookout for tax credits that your business can take advantage of to save your business money.

SUPPLIER DIVERSITY Supplier diversity is a business strategy that ensures a diverse supplier base in the procurement of goods and services. A ‘diverse supplier’ is a supplier that is majority-owned and operated (51% or more) by an individual from an underrepresented or underserved community. Common classifications include minority-owned enterprises (MBEs) or women-owned business enterprises (WBEs).

The history of supplier diversity is firmly rooted in the American Civil Rights movement, and has evolved into a mainstream practice for corporations and the government.

WHY SUPPLIER DIVERSITY? Investing in a strong supplier base bolsters competitive advantage, attracts and retains top talent, and affects perception of impact. It also helps ease supply chain disruptions by employing a range of diverse suppliers. The benefits of diversifying the supply chain to include smaller, diverse, and local businesses can help companies ease pressure when global supply chains are squeezed and they can help make a company’s supply chain more agile, too. Lastly, investing in diverse suppliers is good for the bottom line. Younger generations such as Millennials and Gen-Z say that they are unlikely to work for companies that do not prioritize diversity and inclusion in values and practice.

Throughout the course of the pandemic, 27% of AAPIs experienced supply chain disruptions to their businesses.

"From launching our apparel in local mom and pops to supplying big box retailers, I’ve noticed the lack of diversity and diverse products across the buying/selling process. Millenials and Gen-Zs are the most diverse generations we’ve had, and this must be reflected at every touch point in apparel. Diversity also benefits retailers to meet production and delivery deadlines, especially in the fast-moving fashion industry."

Fa’avae Fa’avae, Founder/CEO, Island Avenue

SUPPLIER DIVERSITY’S BIG MOMENT: THE BIPARTISAN INFRASTRUCTURE LAW The Bipartisan Infrastructure Law presents a major opportunity for diverse businesses and suppliers.

Through the authorization of billions of dollars to support transportation projects, there are many opportunities for these businesses to access federal contracts. One of the most important steps the law takes in committing to supplier diversity is setting a goal of increasing the share of federal contracts going to small, disadvantaged businesses (SDBs) to 15% by 2025–a 50% increase from most recent spending levels.

SUPPLIER DIVERSITY IN ACTION Verizon spent $5.5 billion with minority, women, veteran, LGBT, and disability-owned businesses in 2021, and $50 billion with diverse suppliers over the last 10 years. Verizon is a charter member of the Billion Dollar Roundtable, a coalition of 28 companies that each spends more than $1 billion every year with diverse suppliers.

In 2021, McDonald’s increased its U.S. systemwide spend with diverse-owned suppliers to 25.4%, or $4 billion, while encouraging their supply chain partners to sign on to a mutual commitment to their DEI principles in recruitment, representation, and retention.

Every year, Toyota spends over $3 billion with certified minority and women-owned businesses.

The Toyota Mentorship Program assists in providing technical expertise and skills to help smaller companies grow and remain competitive across industries.

2023 Policy Agenda: Supplier Diversity

CALL TO ACTION Call on your elected officials to ensure that the President’s vision for supplier diversity as a key component of infrastructure is prioritized.

Advocate for procurement practices that develop minority-owned businesses and suppliers into integral partners at every level of the value chain.

Learn how companies in your community, or that you frequently purchase from, are valuing supplier diversity.

RACIAL EQUITY The last few years have been marked by rising levels of violence against AAPIs. In some cities, such as New York, Los Angeles, and San Francisco, reported instances of anti-AAPI violence reached record highs, and 2021 saw an increase of anti-AAPI violence nationwide by 339%. As many of these instances occur in places of business, anti-AAPI sentiment has impacted business operations, the mental health of our entrepreneurs, and how AAPI small business owners dedicate their time and resources. We know that the overwhelming victims of such attacks are AAPI women, who are the closest to violence within our communities.

36% of Asian adults say they have altered their daily schedule or routine in the past 12 months due to worries that they might be threatened or attacked.

Between March 2020 and March 2022, 11,467 incidents of targeted violence were reported, and 27% of these incidents occurred in a place of business.

50% of AAPI respondents reported at least one experience of racism, including disrespect, blame for the pandemic, and verbal harassment.

"Our store is three blocks from where Christina Yuna Lee's life was taken. In the wake of anti-AAPI violence, business owners, like my family, are hesitant to stay open late for fear of safety. Even those who want to stay open late struggle to find workers willing to work late. The anxiety is stagnating our ability to bounce back after these past few years."

Alice Liu, Owner, Grand Tea & Imports

While anti-AAPI violence may no longer be in the headlines, this does not reflect the reality that verbal, physical, and written harassment has been increasing and continues to affect everyday life.

Especially for AAPI small business owners, the anxieties and unpredictability of abuse at their workplace, vandalism, blame for the pandemic, physical threats, and casual disrespect has created additional barriers to their economic and social wellbeing. Addressing this racism is crucial in fostering a safe, healthy, and fruitful entrepreneurship environment for not only AAPI businesses, but all diverse-owned businesses.

National ACE successfully advocated for the COVID-19 Hate Crimes Act in 2021, and has since deepened its relationship with the White House Initiative on Asian Americans, Native Hawaiians, and Pacific Islanders (WHIAANHPI) to work closely with the Administration on tackling anti-Asian violence. Much of the approach to target this violence focuses on expanding reporting options in multiple languages, and while this can be effective, it is important to take actions that will treat systemic racism at its core.

One way to do this is through implementing curricula on AAPI history, as many states have already done. Additionally, National ACE is continuing its AAPISTRONG Campaign for the third year in a row to help organizations incorporate cultural sensitivity training programs and improve workplace outcomes. We are also doing the vital work of fielding national surveys on AAPIs to close the data gap and provide concrete deliverables to policymakers and corporate leaders.

2023 Policy Agenda: Racial Equity

Across all racial groups, Asian Americans are among the least likely to feel that they completely belong and are accepted in the U.S.; this is especially true for younger Asian Americans and Asian American women.

Over 30% of Americans are unaware of the increased attacks on Asian Americans or believe they have actually decreased.

CALL TO ACTION Get involved in grassroots efforts to build curriculum on AAPI contributions, experiences, and histories in K-12 classrooms in your localities.

Rep. Grace Meng’s bill establishing a Commission to study the creation of a National Museum on Asian Pacific American History and Culture in Washington, D.C. was signed into law by President Biden in June 2022.

Continue to monitor and be involved in the creation of this museum.

Representation and Leadership Many barriers facing AAPI small business owners remain unaddressed due to the lack of appropriate representation and leadership opportunities. In 2022, 58% of Americans are unable to name a prominent Asian American. However, we are seeing notable gains in representation and leadership in government and media. There has also been a growing corporate interest in expanding diversity, equity, and inclusion (DEI) efforts. This is encouraging, and National ACE urges firms to continue these practices.

It is vital to ensure that representation is meaningful, high-level, and as diverse as the AAPI community. Inequity can be more adequately addressed by those intimately aware of these experiences. Proper representation is an essential investment in reframing what our youth deem possible for themselves. It also allows those from marginalized communities to directly design policy, art, and practices that hold long-term equity at the heart and are thus more effective.

27 newly elected AAPI legislators serving in the 2022 legislative session, bringing the total number of AAPI state legislators to 103.

AAPI representation across broadcast, cable, and streaming increased to 4.6% in 2021 from 3.5% in 2020; however, East Asian visibility composes more than half of this representation (2.7%), followed up South Asian (0.9%), Southeast Asian (0.5%), and Pacific Islander (0.2%).

Asian Americans only comprised approximately 4.4% of directors of Fortune 1000 companies in 2020, despite composing 12% of the professional workforce and 30% or more of the tech workforce.

1.47% of the 4.4% are AAPI women.

ACE NextGen National ACE has always recognized the importance of supporting the entrepreneurship of Millennial and Gen-Z AAPIs through the ACE NextGen Program.

Millennial and Gen-Z AAPIs are some of the most likely to start their own businesses; according to a Nielsen study, about 54% of Gen Z indicated they wanted to start their own company. Younger AAPI entrepreneurs are technologically-inclined, prioritize social consciousness, and tend to be more flexible.

National ACE prioritizes investments in future generations of AAPI entrepreneurs, who will continue to contribute significantly to the U.S. both economically and socially.

“As small business owners in central Texas, we are often the only Asian Americans in decision-making spaces in our community. To increase AAPI representation and leadership in our mid-sized to smaller towns, we need to focus attention on funding and co-creating AAPI-led initiatives that aim to increase connection and mentorship.

Focus on smaller towns is crucial so our communities are not left behind.”

Devin Li & Jaja Chen, Co-Owners, Cha Community

CALL TO ACTION Dismantle stereotypes that exclude AAPIs from leadership.

Tackle AAPI invisibility through accurate and diverse representation at the top levels of media, government, and corporate America.

Support and uplift the next generations of AAPI entrepreneurs.

SUSTAINABILITY The past year highlighted the necessity of diversifying energy sources and turning to sustainable energy practices. Hawaii, for example, has been hit hard by rising gas prices, and has struggled to meet its energy needs. Sustainable solutions have become urgent and will make AAPI small business owners less vulnerable to fluctuations in gas supply and prices. It will foster energy efficiency, job creation, contracting opportunities, and economic competitiveness—which stand to benefit AAPI entrepreneurs in the long term.

"Sourcing local products has always been a core value of Fête. When the pandemic hit, this principle became and remained an important value for those in Hawaii. The 'pricey' local food products became desirable due to rising costs of shipping mainland goods into the islands. And people realized eating locally sourced food is delicious! Our farmers and ranches thrived and continue to thrive."

Robynne Maii, Executive Chef-Partner, Fête

69% of Asian Americans agreed that Congress and the President should pass stronger legislation to reduce effects of climate change.

Asian American residents in Massachusetts are exposed to 36% more air pollution than White residents.

A World Bank report estimated that the cost of the health damage caused by air pollution amounts to $8.1 trillion a year, equivalent to 6.1% of global GDP.

In 2022, we saw historic investments in clean energy infrastructure, electric vehicles (EV) and EV charging stations, emissions reduction, and clean energy affordability. We saw significant funding for transportation, energy, and infrastructure, which are the fields that lead to the most benefits from policy interventions. However, it is important to ensure that while we are transitioning to renewable energy sources, this must be a just transition with inclusion, accessibility, and affordability in mind.

Communities of color are the most impacted by air pollution, which is the leading cause of illness and premature death in the world. Nearly half of all natural disasters in the world occur in Asia-Pacific. When there is a climate disaster—as witnessed during the floods in Pakistan—this affects how AAPI entrepreneurs utilize their time and resources, ultimately impacting operations, mental health, and flow of capital.

CALL TO ACTION

Stay updated on incentives in the Inflation Reduction Act for firms to outreach to marginalized communities: Credit for manufacturing plants working in low-income and disadvantaged communities to bring green jobs.

Incentives automakers by allocating a certain percentage of domestic production for EV batteries and car parts to meet a tax rebate.

Advocate for federal funding for small businesses to research and implement clean energy solutions that consider local contexts, aggravators, and solutions.

National ACE Board of Directors THEAR SUZUKI Chair, National ACE Global Client Service Partner EY

JIMMY FERGUSON President, Maxtab, Inc. Owner/Operator McDonald's Asian McDonald's Operators Association (AMOA)

CHRIS LAW National Vice President, Asian Initiatives UnitedHealthcare

ED CHAN SVP & Chief Technology Officer Verizon

GARRETT GIN Senior Vice President Global Marketing & Corporate Affairs Bank of America

GRACE LEE CEO/President Ashford Connex, LLC

MARIKO S. CARPENTER Vice President, Marketing North America Nielsen IQ

JACOB HSU Chief Executive Officer Catalyte.io

ROBERTO LLAMES President and CEO Enterprise Solutions

JASON CHAN Director, External & Public Affairs, Strategic Alliances; Chief of Staff to President, State External & Legislative Affairs AT&T

BILL IMADA Chairman & Chief Connectivity Officer IW Group

MICHELLE MI Vice President, Emerging Markets & Business Development - Global Sourcing Walmart

ANGELA CHANG Chief Strategy Officer KCAL Insurance Agency

KAREN IDENO Group Vice President Indirect Procurement and Environmental, Social & Governance Investing Toyota Financial Services

AMAR SHOKEEN CEO Apolis

ANDREW CHAU Co-Founder/CEO Boba Guys

JOON I. KIM Associate Vice President, External Affairs Comcast

WALLACE K. TSUHA Founder Tsuha Foundation

SUSAN JIN DAVIS Social Impact Officer Al Roker Entertainment

FA'AVAE FA'AVAE Founder and Owner F2 Manufacturing and Island Avenue

HELENE YAN Chief Client Officer, Health Interpublic Group

DR. KAREN ENG, O.D. Chair, National ACE Foundation President & CEO, CSMI

PATRICIA FONG KUSHIDA President & CEO California Asian Chamber of Commerce

National ACE Foundation Board of Directors DR. KAREN ENG, O.D. Chair, National ACE Foundation President & CEO, CSMI

SUSAN JIN DAVIS Social Impact Officer Al Roker Entertainment

CHEWY JANG CEO - Kid's Dream Chief of Staff- Spaceport

DENNIS HUANG Executive Director and CEO Asian Business Association, Los Angeles

TRACEY DOI Independent Board Director Retired Chief Financial Officer Toyota NA

SHAU-WAI LAM Chairman Emeritus DCH Auto Group

AMIT BHATNAGAR, Ph. D. Professor of Marketing University of Wisconsin, Milwaukee CY CHEN Honorary Chairperson Global Monte Jade

JIMMY FERGUSON Co-Chair, National ACE Foundation President, Maxtab, Inc. / Owner/Operator McDonald's Asian McDonald's Operators Association (AMOA) BILL IMADA Chairman & Chief Connectivity Officer IW Group

MARTY LORENZO Adjunct Professor University of San Diego School of Law IAN SO Co-Owner Chicken & Rice Guys Seoul Kitchen

BIN YU Founder/Chairman Utegration, LLC

Acknowledgements National ACE’s 2023 Policy Agenda was made possible only with the support of National ACE’s incredible staff, board members, and leadership. Thank you to our Board Chair Thear Suzuki, Policy Committee Chairman Jimmy Ferguson, President and CEO Chiling Tong, VP of Programs and Marketing Emily Fuder, Sr. Finance and Administration Manager Michelle Im, Sr. Program Coordinator Derby Sinn, Event Manager Dung Tran, Executive Assistant Andrea Rao, and Sr. Policy Associate Sarah Haque.

Thank you to National ACE’s Board of Directors, who provided multiple rounds of feedback and insight to strengthen this publication.

National ACE would also like to extend our gratitude to Public Private Strategies (PPS) and Senior Associate Baylee Anderson, who provided invaluable content and policy advice.

If you have any questions about the content of this publication or would like to recommend additional ideas to be considered for future versions, please contact: National ACE 1300 Pennsylvania Avenue, NW Suite 700 Washington, D.C. ceo@nationalace.org

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National Asian/Pacific Islander American Chamber of Commerce & Entrepreneurship 1300 Pennsylvania Avenue NW Suite 700 Washington, DC 20004 202-204-2579 info@nationalace.org www.nationalace.org www.aapistrong.com