ATLANTA, GA, August 16—AAHOA (Asian American Hotel Owners Association), the largest hotel owners association in the world, applauds the U.S. Small Business Administration (SBA) and Administrator Isabel Casillas Guzman for forging a groundbreaking memorandum of understanding (MOU) with the Ministry of Micro, Small, and Medium Enterprises (MSMEs) of the Republic of India. This agreement marks a milestone in fostering international growth, strategic partnerships, and collaboration among the two democracies.
Announced on August 16, this MOU represents the SBA’s first collaborative effort with India to enhance the global presence of MSMEs. It follows the 2023 state visit between President Biden and Prime Minister Modi, where they stressed the importance of MSMEs in creating inclusive economies. The agreement is designed to fortify bilateral efforts to promote MSME participation in the global marketplace, focusing on investment, commercialization, supply chains, and future trade opportunities.
“This MOU underscores the importance of bilateral trade between the U.S. and India and the importance of the two countries working together to support small businesses,” said Chairman Miraj S. Patel. “With a focus on entrepreneurial training, access to capital, trade and export financing, and leveraging technology and digital services, this partnership will significantly enhance small businesses’ ability to compete globally.”
In her address at AAHOACON22, Administrator Guzman underscored the vital role hoteliers play in the U.S. economy, stating, “As the federal agency dedicated to delivering the American Dream of business ownership to more Americans, we are committed to ensuring that you have the capital, revenue growth opportunities, and support networks needed to start, grow, and build thriving, resilient businesses.”
“AAHOA commends the SBA and India’s Ministry of MSMEs for this visionary agreement,” said President & CEO Laura Lee Blake. “We are particularly encouraged by the emphasis on promoting women’s entrepreneurship, which is crucial for driving inclusive growth in the global economy.”
AAHOA remains committed to advocating for policies and initiatives that empower its members and the broader small business community to succeed in the global economy.
