UHERO and the Economic Revitalization Commission present small‑business survey: marketing, finance and workforce top concerns

The Office of Economic Revitalization (OER) and UHERO presented findings from a 2024 island‑wide survey of more than 1,000 businesses and follow‑up interviews, reporting marketing and sales, access to financing and workforce development as the top needs for Honolulu small businesses.

Professor Ruben Juarez of UHERO summarized the research: more than half of respondents cited marketing and sales support as a top need; about 44% listed financial resources as a primary concern; and roughly one‑third identified workforce development and hiring challenges. Juarez said approximately 40% of businesses reported stagnation or decline while more than half indicated moderate growth. Financing difficulties were most acute for young firms, women‑owned businesses and small enterprises, with nearly 30% reporting trouble securing financing due to high interest rates and complex application processes. More than one‑third of respondents reported difficulty hiring and retaining skilled workers.

The Economic Revitalization Commission (ERC) — chaired by Eliza Talbot — described how it will use the study to prioritize programs. ERC highlights for 2025 presented to the committee included: pursuing a pilot or policy pathway to introduce a local‑preference procurement mechanism for city contracts (modeled on programs elsewhere that provide a modest preference for local firms); launching a targeted business accelerator / incubator to support underserved founders (the pilot cohort is scheduled for May–August with graduation in August and a $50,000 capital pool committed by a partner credit union); and examining Chapter 38 procurement rules to identify exceptions or new options to repurpose underutilized city properties for community economic development activities.

The Oahu Business Connector platform was cited as an existing resource with about 80 partners, nearly 5,000 businesses served and roughly 1,200 resources listed. ERC members and OER staff said pilot projects will emphasize underserved communities, and commissioners will mentor and participate in selection and programming for the accelerator.

Council members asked for a clearer, two‑sentence vision statement for OER and for more actionable measures the Council could take to support small businesses, including clearer metrics and district‑by‑district plans. Council members also asked OER to explore how city operations and procurement practices affect businesses and to coordinate future outreach, especially to minority‑ and women‑owned businesses. OER described regular outreach and referral work, a workforce development liaison that coordinates with Work Hawaii and other programs (including the Good Jobs Oahu training initiative), and upcoming community events intended to build connections between employers, training providers and job seekers.

Public testimony in support was provided by Angela Melati Young; a representative from the Muslim community also asked how nonprofits can connect to OER resources. The committee thanked presenters and invited follow‑up briefings on procurement pathways and program roll‑outs.