Special to the Pinoy Reporter

May, 2009

By Alexander Borromeo, President

The Census 2010 is officially underway and it’s time for the Fil-Am community to stand up and be counted. Sure…that may sound a bit simplistic, but there is a lot at stake in terms of community funding levels and accurate representation in the political arena.  That means the Census has a direct bearing on all businesses and a double impact on minority owned businesses.

The Fil-Am population was undercounted in Census 2000 and the US government completed a survey of Filipino-owned firms, and the numbers are impressive. On its website found at http://www.census.gov/econ/sbo/02/asiansof_filipino.html, the Census Bureau report states, “In 2002, there were over 125,000 Filipino-owned firms in the U.S., employing nearly 132,000 workers, and generating nearly $14.2 billion in revenue. These Filipino-owned firms accounted for 0.5 percent of all nonfarm businesses in the U.S., 0.1 percent of their employment, and 0.1 percent of their receipts. The number of Filipino-owned businesses grew 48 percent between 1997 and 2002, and the revenues grew 28 percent.”  The businesses included in this report are those with at least 51% ownership by Fil-Ams.

When you begin to consider the economic impact of the Fil-Am business and community on the US economy, it is clear that being counted in the next Census is critical.  The numbers reported in Census 2010 will play a critical role in decision making over the next 10 years.  These decisions will directly impact the Filipino-American business community in a number of important ways.

When the US government injects money into the economy, the funding flows in various ways.  Much of the funding is allotted to communities based on population statistics and the money is awarded as a grant.  The money flows from the federal government to the state, city, or county, and then to local organizations, agencies, and businesses.   Many times the grant funds have restrictions in them as to who is eligible to become the final recipient of the funds. 

The Census 2010 is estimated to impact over 170 federal programs and over $300 billion of spending.  The money is often distributed based on population statistics such as total population, minority population, low income population, and so on.  For example, cities get Federal community block grant funds based on city population counts and income distribution numbers. 

Fil-Am businesses stand to win a lot in the federal funding assistance programs, but only if Fil-Ams make sure they are counted.  On the other hand, if Fil-Ams are undercounted, the impact is severe on all levels including losing access to funding.  Federal grant dollars given to local communities are essential for many reasons.

·        Matching funds for business loans

·        Matching funds for new community projects

·        Special grants for area-specific needs

·        Minority business funding grants

·        Determines Congressional representation numbers

·        Housing development funds and government backed mortgages

·        Income based loans and grants

·        Job training grants

The Fil-Am community should fully participate in the Census 2010 for two overriding reasons.  The first reason is that accurate counts at the city and state level will generate local funding which Fil-Am businesses can benefit from through grants, loans, and new business generated by a thriving and healthy economy.  The second reason is to insure Fil-Am businesses fully participate in funding dedicated to Asian-American or minority owned businesses. 

In other words, by being counted in the Census 2010, Fil-Am businesses can leverage their success.  The population figures will lead to more area job development, business support, increased commercial activity, low interest loans and so on.  It is estimated that every 100 people counted equates to $1 million in federal funding over a 10 year period.

So every Fil-Am business and community member should view the Census 2010 as an opportunity to leverage success, influence, and power. 

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Special to the Pinoy Reporter

April, 2009

By Alexander Borromeo, President

An expert is someone with a special skill or special knowledge. Align yourself with experts as determined by your business mission and goals. 

Experts can become advisors, mentors, partners or alliances. The expert is the person who can show how to partner with others and strategically target those business opportunities which promote inclusion and growth.

You may need to establish a relationship with an expert on marketing or someone who understands the intricacies of governmental contracting. Or you may want to establish business relationships with experts who have community standing because of their personal success in the business world. You many need to rely on advice from experts in finance or the service industries.

So how do you find and surround yourself with these experts.  There are a number of ways.  One of the best ways is to join the local business groups which promote business development. For example, the Chamber of Commerce and local area business development coalitions are comprised of experts who are anxious to create an inclusive environment for all business owners. 

Partnering with these experts can give you the introduction you need into the greater business environment.  At that point, you can establish a number of business relationships which will lead to the creation of a supportive business infrastructure within the community.

The Fil-Am business can target associations with experts that fill in gaps in knowledge or experience. These gaps may be found in developing targeted marketing campaigns, capital raising programs, government bidding practices, development of alliances with suppliers, creation of a more effective distribution system, or design of a more global based business.

Surrounding yourself with experts is an excellent success strategy.  No one can know everything. Minority businesses have traditionally relied on themselves to create successful enterprises. They have been denied access in the past to the business building resources that enable businesses to grow and expand.  That has changed in a number of important ways, and now you see organizations such as the Filipino Chamber of Commerce of the Pacific NW creating strategic alliances that provide access to experts in areas minority businesses need help in.

When you surround yourself with experts, you are able to get the right kind of advice and assistance. You can join forces with these experts in a number of ways ranging from getting sound advice to strategic collaborations which build economic strength. 

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Special to the Pinoy Reporter

March, 2009

By Alexander Borromeo, President

Many Fil-Am businesses are small family owned businesses. One of the characteristics of many of these businesses is lack of planning.  This is not meant as a criticism, because despite the fact little advanced planning was done, many businesses are thriving.  But the lack of planning actually creates a barrier to assimilation in the mainstream economy.

The Fil-Am businesses is no different from many other minority groups.  You can drive through various parts of almost any city and find areas where there are groups of small businesses started by families and friends and sole proprietors.  The businesses have a steady clientele and generate descent profits, but they are seen as fringe businesses by the mainstream business community.

This is where a business plan can make the difference, but it must be one that extends far beyond simply writing a mission statement or determining advertising budgets.  The Fil-Am business wishing to expand beyond the pocket areas need to understand how a strategic plan can lead to acceptance, assimilation and growth.

The first step to establishing this connectivity is to first realize you will have to extend your reach beyond the pocket where the minority businesses are clustered.  The strategic plan identifies the overall strategy for connecting with other businesses and community organizations which can increase your ability to assimilate your business into the mainstream business world.

This section of your business plan will look at marketing from the perspective of how you can promote your business outside of your pocket area. Strategic planning for connectivity should also include the identification of those community relationships which enable you to promote your business.  These same relationships can also serve as mentors or provide you with the contacts you need to grow your business.  You can join the local Chamber of Commerce, trade organizations or even social clubs. 

So what does all of this mean exactly for planning purposes?  It means your business plan must reach beyond the traditional planning strategies just like your business must get past the arbitrary pockets of operation.  Your business plan must address much more than just where the financing will come from or what products you will sell.  There must be a strategy for connectivity with the non Fil-Am and API community that leads to assimilation into the mainstream business world.

The plan for connectivity can address the following.

• How to establish those relationships which promote assimilation
• How to work in the political process to so that minority business development opportunities are created
• How to establish mentoring relationships
• How to enter the supply side flow of goods and services within the larger business community to the benefit of the business
• How to promote the inclusion of the Fil-Am and API community in the social networking system
• How to communicate the creativity and fresh perspectives minority owned businesses bring to the community
• How to develop strategic partnerships

This may sound like a lot of area to cover, but it is the networking and partnering which leads to connectivity.  Unless the Fil-Am business community learns to reach beyond their pockets of operation, the mainstream community will never realize their full contribution to the economy.  The minority businesses will also be arbitrarily limiting their influence, effectives and growth.

Do you have a plan?  If you don’t, then you need to develop one no matter how long you have already been in business. 

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Special to the Pinoy Reporter

February, 2009

By Alexander Borromeo, President

Filipino businesses do not turn to the Fil-Am Chamber to establish business connections.  If you have this belief about the Chamber then you are denying your business an ideal opportunity to network with successful community leaders. You should be seeking out the Chamber as a powerful business relationship you can leverage to your benefit.

The Chamber of Commerce offers a wealth of opportunities and information which any business can use. Leveraging your Chamber makes sense, but what does that actually mean?

One of the sterling features of the Chamber of Commerce is that members interact on a regular basis.  When you join the Chamber, you gain access to their knowledge, connections, and influence in the business community.

The Chamber of Commerce is a firm believer in the importance of business relationships.  The very existence of the Chamber is based on the concept of interrelationships.  People who network create more powerful alternatives and more visibility as a whole than they could ever do as individuals. The Chamber of Commerce offers an ideal opportunity for Fil-Am business community members to create important relationships that can lead to business growth or improved business viability and visibility.

When you leverage your Chamber, you are going to be able to do much more than just meet other people. The Chamber of Commerce provides access to wealth of options and tools for building a business.  Chances are that most people really have no idea of the many resources the Chamber can access to both established and newly formed businesses.  These services and opportunities offer members the perfect forum for interacting with the mainstream business community.

When you leverage the Chamber, you are using the Chamber itself to create a larger opportunity by changing the forces which create the business dynamics.  Every Chamber is different and offer different business tools.  But even small local Chambers have access to the larger organization and its many resources.

• Social networking opportunities
• Seminars and workshops on relevant business topics
• Incubation centers for new businesses
• Technical assistance with government contracting and supplier issues
• Assistance with global business development
• Access to business and political leaders
• Development of business relationships
• Business mentoring programs
• Assist with finding access to capital

The Chamber of Commerce offers many opportunities for the Fil-Am business community to begin interacting with the mainstream business world.  But it also provides a number of resources which can be used to establish important relationships, gain valuable information, gain entrance into the governmental and social networks, and create new opportunities. 

The tendency of Filipino American business owners to operate within a tight circle is limiting their ability to expand and achieve full economic power.  One of the most important steps you can take in order to break those barriers is to join the Chamber of Commerce and begin the leveraging process.

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