Resources, Funding, and Support for AANHPI-Owned Businesses
Photo: Amina Filkins
Small businesses are critical to the health of our communities. They encourage us to know and support our neighbors, avoid shopping at big box stores, and make our cities unique and inviting. Unfortunately, one-fifth of all US small businesses close within a year due to a lack of funds and support. The obstacles are even steeper for minority-owned businesses that contend with centuries-old discriminatory systems.
6 Ways to Support Asian American and Pacific Islander Communities
Asian American, Native Hawaiian, and Pacific Islander (AANHPI) business ownership in 2024 included over 3 million firms, $950 billion in sales, and 5.2 million employees. Following the 2020 pandemic lockdown and rise in AANHPI discrimination, however, a majority of all AANHPI-owned businesses reported significant struggles to keep their doors open.
The following resources and funding opportunities for AANHPI-owned businesses can help keep these businesses open and inspire more diverse entrepreneurs to pursue their small business dreams.
Unique Funding for AANHPI-Owned Businesses
Grant and investment opportunities tailored to specific communities are critical, ensuring marginalized entrepreneurs can receive aid. The following list gathers several of these opportunities for ease of access:
FoundHer: Focused on accelerating the growth for women-founded businesses in Hawai’i, providing capital, stipends, mentorships, and more.
Gold House Ventures: Invests in AANHPI entrepreneurs through capital, tools, and connections, including the Gold House Ventures Accelerator program, which has invested over $2 billion in capital.
AAPI Strong: Offers grant opportunities of varying amounts, like $10k and $25k awards for entrepreneurs.
Asian Pacific Community Fund: Offers grants to organizations supporting underserved AANHPI communities.
Asian Women Giving Circle: Awards grants of $8,000 to projects led by AANHPI women or gender-expansive people in NYC, with a focus on arts and culture.
Asian American Federation: Provides financial assistance through grants and loans to AANHPI ventures in NYC.
IFundWomen: AANHPI women entrepreneurs can apply to IFundWomen to start campaigning to receive funds.
Coalition of Asian American Leaders: The Ignite Fund gives $10,000–$15,000 grants to Minnesota’s AANHPI community.
Asian Community Fund: A permanent fund to support the AANHPI community, including through grants.
Local Funding: Try searching “AANHPI business funding + STATE” to find specific grants and loans by location.
Support and Community Resources
There are many challenges for businesses with marginalized owners, including publicity and funding. The below communities and networks offer space and resources for AANHPI-owned businesses:
Asian America Business Development Center: Supports Asian American leaders with awards, corporate sponsors and partners, resources, and more.
Asian Business Association: Dedicated to promoting the growth and success of Asian American businesses, through networking, resources, and advocacy.
Asian Pacific American Chamber of Commerce: The chamber of commerce for AANHPI businesses helps facilitate relationships, economic advancement, and breaking down barriers. They also offer a grant for membership.
Asian Professional Exchange: A membership organization for “Asian Pacific Americans in Southern California who have a strong commitment to excellence in professional development, community service and cultural awareness.”
Asia America MultiTechnology Association: Silicon Valley's leading business network promoting the success of technology enterprises throughout Asia and the US.
Asian Business Collaborative: A nonprofit dedicated to helping AANHPI business owners through advocacy, representation, and scholarships.
Indian American Business Association & Chamber: Facilitating the success of Indian-owned businesses through growth, networking, and more.
The National Coalition for Asian Pacific American Community Development: The organization’s Small Business Program provides technical assistance, peer learning opportunities, resources, and grants to local programs.
The Pacific Islands Small Business Development Center Network: Provides counseling and training for small businesses.
Verizon Small Business Digital Ready: A collaboration between AANHPI Strong and Verizon, this program provides learning, coaching, and networking for your business’ digital presence.
Asian Business Empowerment Council: A platform to increase economic power within the AANHPI business community.
Find more resources for business owners: Black, Latino/a/x, LGBTQ, Women
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