Back to Business: Are AAPI Small Businesses Rebounding from Covid-19?
This month, we share interesting findings on the recovery of AAPI owned small businesses after a year of the Covid-19 pandemic. The following report and findings are reprinted from National ACE's and Reimagine Main Street's national survey of AAPI small business owners (April - June 2021).
Survey Context:
- After more than one year of lockdowns, devastating illness, and social unrest, there are signs that across the country customers are returning, and we're getting back to business.
- Yet there are gaps in understanding what small business owners are experiencing and whether this emerging recovery is evenly distributed within the AAPI and other small business communities
- National ACE and Reimagine Main Street fielded a national survey of AAPI small business owners from April 28-June 8, 2021. In tandem, we fielded a survey including Black, Hispanic, Native and White business owners for comparison from April 28-May 12.
Key Takeaways:
- Most AAPI small business are optimistic about the future, but less optimistic than Black and Hispanic peers. This optimism is fueled in part by the availability of vaccines.
- In spite of this optimism, we are not out of the woods. AAPI business owners are least likely to have experienced signs of recovery and expect a longer road to recovery than White or Hispanic peers.
- On the policy advocacy front, AAPI business owners prioritize lower healthcare costs, corporate tax rates and simplified federal contracting opportunities.
To read the full report:
