Helping NYC’s Vital Asian-Owned Business Come Back Stronger

By Center for an Urban Future & Asian American Federation

Nov 9  |  Community

A Center for an Urban Future and Asian American Federation Virtual Policy Symposium

Asian-owned businesses play an increasingly critical role in New York City’s economy. Prior to the pandemic, there were more than 47,000 Asian-owned firms across the five boroughs, nearly a quarter (23 percent) of all businesses citywide. And during the previous five years, the number of Asian-owned firms in the city increased by 14.3 percent—nearly double the increase among white-owned businesses (8.6 percent) and all minority-owned businesses (7.4 percent).

But Asian-owned small businesses across the city have been especially hard-hit during the past 19 months. Some have experienced catastrophic declines in sales due to the economic hardship facing residents in their communities, others in neighborhoods like Manhattan’s Chinatown have also struggled as the number of tourists and office workers plummeted, and many have also been impacted by the increase in anti-Asian violence. This forum will shine a spotlight on New York’s Asian-owned businesses at a pivotal moment in the city’s ongoing recovery and discuss what public and private sector leaders should do to bolster this vital part of New York’s economy for the long term.

Confirmed speakers include:

• Congresswoman Grace Meng, U.S. House of Representatives
• Assembly Member Yuh-Line Niou, New York State Assembly
• Joanne Kwong, President, Pearl River Mart
• Linda Lee, President, Korean Community Services
• Ikhwan Rim, President, Union Street Small Business Association
• Edward Song, Founder, Korilla BBQ and Cookspace
• Yanki Tshering, Executive Director, Accompany Capital
• Jo-Ann Yoo, Executive Director, Asian American Federation.

RSVP HERE: https://nycfuture.salsalabs.org/supportingnycsasianownedbusinesses/index.html