Recap of Hawaii Business Small Business Summit

Finding financing during recovery

Hawaii Business Magazine organized the Small Business Summit to help address the challenges that many business owners are encountering due to COVID-19. They gathered local and national experts to discuss government response to the crisis, critical HR issues, securing funding and more.

CPB’s Susan Utsugi, Senior Vice President & Division Manager, Business Banking spoke on the securing funding panel where she was joined by colleagues from the Council for Native Hawaiian Advancement, Hawai’i Small Business Development Center – Maui, and Tiki’s Grill & Bar. 

To watch the replay of their February 11 discussion, click here (the video begins to play at about the 11-second mark).

Panel moderator and Hawaii Business magazine writer Noelle Fujii-Oride asked the group to share takeaways for event attendees. Here are the highlights.    

Susan Utsugi, Senior Vice President & Division Manager, Business Banking, CPB – Talk to your banker. Your banker wants to build a relationship with you because the more they know about you and your business, the easier it is to help you. Businesses should stay informed of new funding sources and take advantage of available resources, such as grants and PPP.

There is still time to apply for the current PPP program; the deadline is March 31, 2021 or whenever the current funding runs out, whichever is sooner. Visit cpb.bank/PPP for details.

Kūhiō Lewis, President and CEO, Council for Native Hawaiian Advancement – Look at all costs and find ways to cut back or negotiate contracts for better pricing. For alternative funding, research Hawaii’s Community Development Financial Institutions, which provide financial products and services to people and communities underserved by traditional financial institutions, particularly in low-income communities. 

Bill Tobin, Co-Owner, CEO and Managing Partner, Tiki’s Grill & Bar - Get to know and get in front of Hawaii’s representatives and senators. They advocate on the behalf of small businesses so we must bring issues that affect us to their attention.

Fred Rickert, Business Advisor, Hawai’i Small Business Development Center – Maui – Do an in-depth review of your business, your processes, and internal controls to see where you can be more efficient.

Watch the replay of this episode and visit hawaiibusiness.com to view other Small Business Summit videos.