Overview:

It is critically important that we have effective strategies and policies to ensure that Asian American businesses are able to thrive in the recovery era. To better understand how the pandemic affected Asian American businesses and their needs during the economic recovery, the Asian Business Association of Los Angeles surveyed businesses across the Southern California region. The survey collected information on: business characteristics, owner characteristics, pandemic impacts, applying for and receiving assistance, and needs for recovery. This brief is a preliminary analysis of survey findings as of August 2021. A report with policy recommendations is forthcoming.

Key Takeaways

• Asian American businesses saw widely negative effects during the pandemic.
• Many Asian American businesses received assistance but nonetheless faced barriers. Other did not receive assistance at all.
• For Asian American businesses that have been hard-hit, there are several resources that are needed for recovery such as:

Access to financial capital to stay afloat.

Strategies on how to increase business activity to make up for lost revenue.

Technical assistance support for developing an online presence or marketing campaigns.

Support with attracting, recruiting, and retaining employees.

Resources to provide a safe and healthy workplace for staff and customers.

• Government relief programs can be improved by lowering barriers to the application process, such as requiring less financial statements in order to qualify.
• Media, public education, and outreach capmpaigns about relief and recovery resources must be developed in multiple Asian languages to reach immigrant small business owners.
• Technical assistance funding to local community and business groups who can provide application support to small businesses.
• Increase staff capacity of government agencies to handle inquiries in relation to applications and resources.
• Rethink and expand eligibility.
• Amplify the stories and needs of those most impacted by the pandemic.
• More research must be conducted in order to identify gaps and to prioritize actionable and impactful steps to support already vulnerable, minority-owned small businesses brace for disproportionate impact.

Read UCLA Newsroom Story: "Southern California's Asian American-owned businesses more affected by pandemic than others"

Related Media Coverage Bloomberg: "California's Asian Businesses Harder Hit by Covid, Survey Finds" by Amy Yee

#ICYMI: Check out the AAPI Policy Initiative webinar where we shared initial findings. Hear from our experts and guest speakers, Paul Ong, Alycia Cheng, Karen Park, and Assemblymember Al Muratsuchi, on the impact of the pandemic on Asian American businesses and their recommendations for research, policy, and action.

https://www.youtube.com/watch?v=MILwOo2b33Y