Starting a Business
The White House Initiative on Asian Americans and Pacific Islanders hosted its Summit on Entrepreneurship
and Small Business Growth in Silicon Valley to further promote hiring among small businesses.
Asian Americans and Pacific Islanders have a major impact on the economy. The Huffington Post reported that this demographic owns the most small businesses among minorities, accounting for approximately half of minority-owned business employment.
"There’s a great legacy of Asian American/Pacific Islander entrepreneurs
, innovators and small business owners in America, all we want to do is smooth the way for that long line of accomplishment to continue," said Gary Locke, U.S. Commerce Secretary, at the Summit, the Stanford Daily reported.
"Despite continued hardship among Asian/Pacific Islanders, the community overall is thriving. Asian American/Pacific Islanders are now more likely to hire and retain employment and spur economic growth than other business owners," he added.
The 1.1 million Asian American- and Pacific Islander-owned small businesses nationwide account for $2.5 trillion in gross receipts and 16.1 million jobs, the Huffington Post reported.
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