Entrepreneurs Could Learn Lots from US-Based Asian Small Business Consortium Strategies

Over the years I’ve been quite impressed at how many of the Asian-American small businesses stick together and really help each other out. It’s an impressive display of camaraderie and confidence. Their strategies work so well, they have a much better chance at success, which allows new start-up small businesses and shop owners drop their failure rates significantly over the average small business rates in the US.

Last week, I was discussing this with an acquaintance from the Philippines, and she noted that the Chinese business owners there, do the same thing, and they use the same strategies. She noted; “The Majority of those who own big businesses in the Philippines are Chinese. I admire their way in managing their business though, and Chinese community or family helps each other when it comes to their financial needs.”

Yes, and this happens in Los Angeles too, not just with larger and medium sized businesses, but also with small businesses. Not just with the Chinese, but it seems all Asian-American Business Owners. There are rare cases where I’ve heard they tend to exploit their own, which is unfortunate, but not any more than perhaps wealthy Anglo-Americans have in past periods, after all, that is known by just reading our history books.

One interesting point in Los Angeles, is that I’ve observed the Korean Small Business consortiums doing the same thing to support each other, and they form ad hoc groups to loan new business owners money to get started and then they do the same later for future business people. During the LA Riots, some of the African-Americans in LA were angry at the Koreans for being such good business people and they said they are exploiting them. Sometimes with such strong business strategies it’s easy to create animosity in the local free markets, when you dominate so many sectors.

My acquaintance in the Philippines noted that the Chinese Business People there would never allow their relatives to become poor, so they support each other. Maybe it’s this attitude which helps propel their ventures so well, a sense of closeness and community – almost a community within a community if you will, with a small business enterprise motif – and you know what? It works! Perhaps, this is why I’ve always been impressed with the way that Asian-Americans stick together in business and work with each other.

Every entrepreneur could learn from these strategies, so, I thought I’d mention it to you. Please consider all this and think on it.