Categories: Wire Stories

Asian American Business Development Center Launches Project Rebuild�for Small Businesses

Matching minority small businesses, corporations, and employees to bring much needed financial and non-financial support to struggling communities�

NEW YORK, Jan. 27, 2021 (GLOBE NEWSWIRE) — The Asian American Business Development Center (AABDC) today announced that it is launching Project Rebuild, an initiative that connects minority small businesses struggling to recover from the pandemic, big corporations seeking to provide grants, and Employee Resource Groups, who want to volunteer their professional expertise as non-financial support.

AABDC, which has promoted the interests of Asian American entrepreneurs and professionals for more than two decades, is devoting its sixth annual Asian American Business Roundtable (AABR) to the cause of small business recovery by convening C-Suite level virtual panel discussions that bring together stakeholders and propose solutions on Feb. 5 and 8.

In It Together: How Minority Small Businesses, Corporations and Employees Can Rebuild Communities, kicks off from 12:00 PM 1:00 PM EST, Friday, February 5, 2021, with opening speaker and moderator Michael D. Park, Senior Partner, McKinsey, with a distinguished panel of CEOs including Vivek Sankaran, President and CEO, Albertson; Roy Weathers, Vice Chair, PwC US and CEO, CEO Action for Racial Equity; and Seth Kaufman, CEO, Moet Hennessy North America.

The second and final part of AABR continues on Monday, February 8, 2021 with a panel of Chief Diversity Officers (CDO) to discuss Empowering Employees to be Change Agents for Minority Communities from 12:00 PM 1:00 PM EST. Companies represented at the February 8 panel include: moderator Shannon Schuyler, Chief Purpose and Inclusion Officer, PWC; Lisa Chang, Chief People Officer, the Coca-Cola Company; Susan Reid, Global Head of D&I, Morgan Stanley; and Caroline Rhodes, Global Head of I&D, Diageo.

COVID-19 has majorly impacted all segments of US society. And according to McKinseys study issued last year, Asian Americans have suffered disproportionately across a number of metrics and may recover more slowly. The authors of this important study will share their recommendations for how stakeholders in all sectors can ensure equity for Asian American communities during COVID-19 recovery while supporting all groups experiencing disproportionate impact from the crisis. This fireside chat will take place from 11:30 AM – 12:00 PM EST preceding the CDO Panel.

According to McKinsey, there are 1.1 million minority-owned small businesses which employ more than 8.7 million workers and annually generate more than $1 trillion in economic output. Women own nearly 300,000 of them, employing 2.4 million workers.

AABDC launched Project Rebuild to address this crisis, and has already signed up nearly 50 Asian American small businesses across the America who are seeking to be matched with corporations and their Employee Resource Groups for financial and non-financial assistance.

This past year has demonstrated the importance of businesses and their leaders to step up to provide solutions, said Vivek Sankaran, co-chairman of the 2021 AABR, and President and CEO of Albertson Cos Inc. Helping small businesses not just survive, but succeed, despite the recent calamities, translates into recovery for communities everywhere.

To register and view the program, visit https://aabr2021.eventbrite.com

The AABR VI is sponsored by Bank of America, Colgate-Palmolive, Hennessy X.O, and Target.

Join hundreds of business professionals from across the nation, from a range of industries, and representing various communities, at this impactful virtual event.

For more information on Project Rebuild, visit https://aabdc.com/project-rebuild-how-big-businesses-can-save-small-minority-businesses/

Visit www.aabdc.com for more information.