When Everything's Not Equal In Business

Monday, December 14, 2009

I caught this article up at the Daily Planet and wanted to post it up because a lot of the opinions come from the those in the know - trying to make their "American Dream":

A member of the Vietnamese Minnesota community, Tran is currently a business consultant, and advisor to small business enterprises in Ramsey County. He is also nationally noted supplier diversity expert and advocate for minority owned businesses.

Tran is a past Executive Director of the Minnesota Minority Supplier Development Council, he was appointed a member of the Small Business Procurement Advisory Council by the State of Minnesota from 2000 to 2004. David Zander, a cultural anthropologist, is also the Community and Legislative Liaison at the State Council on Asian Pacific Minnesotans.

The three described “major barriers, obstacles and solutions” in their respective testimony. “Asians are missing the boat,” said Zander. “Despite the federal money trickling down, it is not reaching the Asian communities. Banks are not lending to Asian businesses. The larger banks like Wells Fargo are guilty of this.”
When you start a business - credit becomes important - and if bannks aren't lending to Asian businesses - for whatever the reason - then it's usually just not going to work in your favor.