Small Business, Big Losses: The Impact of the Covid Crisis on Asian Small Business in New York City

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Tuesday, June 29, 2021 | 5:30pm to 7pm

Asian American small businesses made up 20 percent of New York City’s businesses before the pandemic and were the fastest-growing segment of small businesses in our city. However, they were devastated by the Covid crisis, with over half the owners reporting losses of 75 percent or more in revenue in 2020. Yet, very few of these Asian small businesses received the help they needed from the institutions set up to serve them. The Asian American Federation will present on their new report surveying hundreds of small business owners to understand why they were left behind and what they need to survive this crisis.

Full Report: https://www.aafederation.org/?p=7576&preview=true

Author Bio

Ahyoung Kim is the Associate Director of Small Business Programs at the Asian American Federation, a leadership organization of over 70 member and partner CBOs across New York City. Ahyoung oversees all things small business at the Federation, providing technical assistance to small business owners hindered by language barriers or lack of access, and advocating for the immigrant small business community. Prior to joining the Federation, Ahyoung worked at multiple institutions, including Korea Daily New York, The World Bank, and the World Resources Institute.