Financial incentives announced for small businesses
NEW YORK CITY (TIP): Asian Indian Chamber of Commerce (AICC) , a New Jersey based representative body of Indian owned businesses, will offer interest free loans to winners of best business plans at its forthcoming ‘Franchise Expo’, scheduled to be held on 21st September at New Jersey Convention & Expo Center at Raritan Center in Edison, NJ. “We are offering a total of $30,000 as interest free loans to top three business plans which will be selected from submitted plans at the ‘Start up Hub’, a competitive project of the show”, announced Anil Bansal, AICC president, who is also the chairman of Indus American Bank.

“The objective of ‘Start up Hub’ is to encourage fresh talent come forward with their plan for a business”, he said adding that he wants them to succeed by giving them an opportunity to win interest free loans of $15, 000, $10,000 and $5,000.” AICC launched its first Franchise Seminar & Show in 2013 when several franchise companies specializing in food, child-care centers, tutoring centers, computer IT services, senior care, financial planning and staffing and employment services participated in the event. “We decided to hold this show because we wished to understand franchising from a franchisee’s point of view”, said Anil Bansal.

“It proved to be a perfect opportunity for franchisees and franchisors to network and share their experiences among themselves.” AICC held a kick off meeting for this year’s Franchise Seminar & Show at the Consulate General of India in New York City where Ambassador Dnyaneshwar Mulay, Consul- General, appealed to entrepreneurs to share innovative ideas with their Indian counterparts. Emphasizing the importance of investing in commerce and business for development of India, Mr. Mulay said, “The need for transferring ideas and business concepts from USA to India has never been so important as it is today because of the prevailing environment in India which is ideal for strengthening bilateral partnership between the two countries.”

Pointing out to opportunities for investing in new projects in India, he said, “Delegations of officials and business owners from various states of US should visit India to explore new investment opportunities.” Explaining the goal of the expo, Rajeev Krishna, event chair, said that the expo will provide a platform for entrepreneurs to meet and build relationships with small business owners. “They will benefit from each other’s experience of owning and operating a small business and a long lasting relationship will develop.” He said that the expo offered varieties of opportunities for business owners, professionals and sponsors of the event.

“The expo serves as a platform to showcase brand excellence and promotional opportunities for business owners. A number of workshops and marketing sessions have been organized during the show”, he announced. According to Nandini Menon, co-chair of the event, prospective franchisees can look forward to financing and marketing resources for their businesses while current franchisors can explore alternative financing and marketing resources.

AICC board members Priti Pandya Patel and Ilayas Quraishi also made presentations at the event. Elayne McClaine, Regional Director, NJ Small Business Development Center at Rutgers-New Brunswick, offered a variety of services including training and online technical assistance for entrepreneurs interested in start-ups and expansion programs. Franchise owners and entrepreneurs may contact Rajeev Krishna by email at Rajeev@signsbytomorrow.com or by phone at 732-599-5726. They can also contact Divya Chadha at webmaster@aicc.net or 732-777-4666