Asian American-owned businesses overcoming challenge of pandemic

ASIAN American-owned businesses make up 10 per cent of all small businesses in the United States. They generate US$700 billion in annual GDP and employ around 3.5 million people.

They have also become the cornerstone of American business. They are a powerful economic force, from Silicon Valley and Wall Street to restaurants, groceries, salons, laundries in the neighbourhoods of large cities across the country and to many of the mom and pop stores in small-town America.

Moreover, Asian-American small businesses have been the fastest growing segment and key driver of economic growth in cities like New York, San Francisco and Chicago - until, that is, the devastating Covid-19 pandemic attacked America.