10+ Resources and Funding Opportunities for AAPI-Owned Businesses

May is Asian American and Pacific Islander (AAPI) Heritage Month. More than 2 million businesses in the U.S. are owned by members of this community, and AAPI women are one of the fastest-growing demographics of entrepreneurs.

However, AAPI business owners face many of the entrenched obstacles that other minority entrepreneurs contend with in addition to specific discrimination, harassment, and violence originating from the COVID-19 pandemic. CNBC reports that the number of AAPI business owners has decreased by more than one-quarter since the start of the pandemic for a variety of reasons.

There are resources available to AAPI businesses that can help overcome common barriers to entry across industries. Here are a few resources AAPI entrepreneurs can take advantage of to start, grow, and run a business.

AAPI funding and grants

Funding is one of the biggest challenges for AAPI business owners. “While there are dozens of professional networks to connect these women with mentors, ‘very few’ provide the capital they need to grow and sustain their businesses in the long term,” reported CNBC.