The ABEC — as the new council will be known — arises out of the Boston Foundation’s Asian Community Fund, which is providing the seed money for its launch. The goal, said fund director Danielle Kim, is for the council to become a standalone nonprofit within three to five years.
Kim has been meeting with leaders from BECMA and Amplify Latinx for advice on how to set up ABEC. While there are other organizations that support the local Asian American community, Kim believes ABEC is the first one dedicated to advancing an array of Asian-owned businesses, from access to capital to public contracting opportunities.
“When we say business equity, it needs to include the Asian community as well,” Kim said. “We know that Asian business owners have seen such a disproportionate impact since the pandemic; everything in terms of economic loss to the ongoing racism and harassment.”
One survey found that 16 percent of Asian-owned small…
