Q&A
Panel members elaborate on small business resources and support for immigrant-owned businesses
2:03:21
·
3 min
Panel members provide additional information about small business resources, emphasizing the importance of partnerships between chambers of commerce and the challenges faced by immigrant-owned businesses. They discuss the value of language support, cultural understanding, and financial education in assisting new American entrepreneurs.
- Meredith Phillips Almeida highlights the partnership between the five chambers of commerce and their ability to share resources and information
- Tshering Gurung addresses the specific challenges faced by immigrant-owned businesses, including language barriers and unfamiliarity with the U.S. financial system
- The discussion emphasizes the importance of a diverse staff, trust-building, and a strong referral network among resource partners
Meredith Phillips Almeida
2:03:21
Could I also add something to my colleague when
Jessica Boulet
2:03:23
you said?
Meredith Phillips Almeida
2:03:23
So, yes, I was freezing through and was remissed.
2:03:26
I didn't mention that this program is a partnership between the 5 chambers and city wide, and that allows us to share sources, information, even staff, and language capacity at times.
2:03:37
And Randy's example was a great example for why this is important.
2:03:41
Amplification of what exists from city agency is super important.
2:03:46
Every business owner that's out there doesn't know that this program exists.
2:03:50
At the business solution center.
2:03:51
But because our team is on the ground in all five boroughs and does know that when they encounter someone who needs that specific service, they're able to make that referral.
2:04:00
We even refer company capital at times.
2:04:02
We are able to refer them to pro bono business strategy advisors, if they're in that phase, we are experts in the ever changing landscape of small business resources, which is incredibly complex.
2:04:15
So our team knows what's out there so that when you approach us, we can say, have you reached out to a company.
2:04:21
I think they'd be a great fit.
2:04:22
There's someone there who speaks the language that you prefer to communicate in, and they have products that are great fit for you.
2:04:27
You should go to the business solution center.
2:04:30
They're the best fit for you right now in this phase.
2:04:32
So I love that example because it shows why it's important to maintain this capacity at the neighborhood level.
2:04:39
And sort of reach these businesses who are not necessarily aware of these things or connected to this information.
Tshering Gurung
2:04:44
Can I add some yeah?
2:04:45
Can I add something?
2:04:47
I did hear, you know, council member shaker, where our office is.
2:04:51
We belong to his district.
2:04:53
And he mentioned about the the language barrier and the challenges and that's especially very specific and, you know, for immigrant owned businesses.
2:05:01
And and and that's, you know, the the majority of the clients that we work with.
2:05:05
And, you know, having a diverse staff who, you know, who speaks the language, who understand the the culture background really helps Right?
2:05:13
Because we are able to speak in the language.
2:05:16
Yeah.
2:05:16
Exactly.
2:05:17
And and it also kinda helps, you know, the the trust factor because many new Americans They don't understand the financial system.
2:05:25
You know, they don't know about credit because that never you know, they didn't have any of that system back home.
2:05:31
So just helping them understand about the whole credit system, the financial system in US.
2:05:36
So there's a lot of education needed in in in addition.
2:05:39
To, you know, access to financing and and having a great network, referral network is so key, and that's something we've been hearing.
2:05:46
Again and again from all our resource partners, you know, that we all are part of this ecosystem, and we should know about each other's resources, right, where to refer them to you know, if there's if if it's a service that we cannot provide.
2:05:59
So if it's a pre starter business, you know, we should refer them to SBS or in SVDCs.
2:06:05
Right?
2:06:05
To help them, you know, with the the idea stage, to help them with the business plan.
2:06:10
And when they are ready, you know, for the funding, you know, SBS knows that, okay.
2:06:14
You know, these are the CDFI partners where I can refer them to.
2:06:17
And similarly, right, with the WeWork closely with, you know, all the Chamber of Commerce and, you know, and refer them when, you know, they need the services that they offer.
2:06:25
Right?
2:06:34
Okay.
2:06:34
Thank you so much.