Second gentleman, SBA administrator celebrate Small Business Week during stop in Minnesota
At Pho Mai restaurant in Eden Prairie, owner Michael Bui was giving high-fives behind the counter, acknowledging his employees’ hard work Wednesday afternoon.
“As a previous employee, and now my own restaurant, it’s been terrific,” he says. “It’s worth the extra mile because you’re responsible for it. [You] do everything from washing dishes to doing payroll.”
The restaurant, located at Asia Mall in Eden Prairie, opened for business in November of 2022.
But as a veteran of the food service industry, Bui says he’s dealt with COVID shutdowns, the unstable economy, and worker shortages.
“So, any roadblock and hurdles, we’re grateful that we’re able to employ 50 individuals and provide a paycheck,” he said. “If we weren’t here, these individuals would have to find jobs somewhere else.”
Jobs and the economy are very much on the minds of merchants and shoppers in the mall, especially with a visit by Second Gentleman Doug Emhoff and Small Business Administrator Isabella Guzman.
“We put nearly $25 billion in COVID relief into Minnesota,” Guzman told reporters. “Small business needs capital to grow. They need technical assistance, and they need revenue growth opportunities.”
Emhoff and Guzman toured several small business venues in the metro Wednesday to celebrate National Small Business Week, with stops in St. Paul, Burnsville, Columbia Heights and Eden Prairie.
During their visit, the two participated in a roundtable with small business leaders, attended a Small Business Week awards ceremony and met with other small business owners.
They also met with Abdirahman Kahin, the owner of the Twin Cities metro-area Afro Deli & Grill restaurants.
Kahin was named the National Small Business Person of the Year on Monday, more than a month after he was named Minnesota’s Small Business Person of the Year.
Their visit comes as U.S. Rep. Dean Phillips is preparing to submit a bill to promote worker-owned small businesses.
The congressman says the measure would cut regulations and encourage retiring owners to consider selling to their employees.
“Most importantly, improve access to capital so that owners can finance the sale to their employees,” Phillips explains. “We’re trying to find ways just to make doing business easier and encourage ownership.”
He says he hopes to introduce the bill next week.
Meanwhile, many eyes here are watching events at the Capitol in St. Paul, where a bill to mandate a paid family and medical leave program came under fierce debate Tuesday.
“The ability to care for yourself, the ability to care for your loved one is a basic human need,” declared state Rep. Ruth Richardson, DFL-Mendota Heights, the bill’s author. “It should not be denied to you because of where you work, the size of your employer.”
But Republican lawmakers voiced concern about the cost of the program and say it could lead to higher taxes.
“This plan, we have absolutely no idea what this set of benefits is going to cost the state of Minnesota,” said State Rep. Patti Anderson, R-Dellwood.
The DFL proposed bill — providing up to 12 weeks of paid family medical leave for each employee and another 12 weeks to care for a family member — passed in the House but still faces debate in the Senate.
The measure would be funded through a payroll tax paid by employees and employers.
Workers would receive roughly two-thirds of their pay up to a maximum amount.
Guzman says the Small Business Administration is trying to help owners navigate the family and medical leave landscape.
“I’ve already spoken to business owners who are talking about the challenges of attracting and retaining a good work force,” she says. “Oftentimes that means they are thinking about benefits and how they can better support their employees and bring them back after family leave.”
Bui says he hopes to eventually transition to an employee ownership model.
“Hopefully down the road, it’s something we can offer,” he notes.
But Bui says he worries the family and medical leave proposals could impact his bottom line. And if the leave bills become law, he’ll have to make changes.
“I guess we’ll have to do what everybody else is: raise prices to cover wages,” Bui explains. “Definitely a concern. As a small business, that would be a big concern for us. Just because for me, the restaurant runs on very thin margins.”