Pinoy businesses in NYC report decline in activity –study

Asian-owned small businesses face challenges in growing their businesses, but contribute to the economy by creating jobs for unskilled immigrants, according to the study “NYC’s Economic Engine: Contributions and Challenges of Asian Small Businesses.”
The study was issued by the Asian American Federation (AAF) in a press conference on December 6.
Specific to the Filipino community, the study reports that Filipino firms declined (-41 percent) in economic activity from 2007 to 2012, and likewise saw drops in overall payroll (-27 percent).
The report states Filipino entrepreneurs were dominant in at least two industries: HealthCare and Professional Services. They were likely to operate child day care centers, provide support services to businesses and buildings or they could be physicians with their own private practice.
“Asian-owned firms were more likely to be smaller firms because of the way ethnic ownership is defined,” says the study. “Asian-owned firms were more likely to be in the services sectors with lower wages overall.”
The report says Asian businesses accounted for half of net new economic activity and half of net new paid employment in New York City from 2002-2012. At the same time, self-employed Asians had 10-percent lower median wages and earnings compared to their non-Asian counterparts.
Key findings of this report include:
  • The number of Asian-owned businesses in New York City grew faster than the overall number of businesses from 2002-2012. In fact, Asian-owned businesses accounted for 31 percent of net new businesses during that time period.
  • Asian-owned businesses were concentrated in service sectors, including taxi and limousine services, retail, personal care services including beauty and nail salons, food services, and construction. In other words, Asian-owned firms were more likely to be in the services sectors with lower wages overall.
  • While Chinese-owned businesses accounted for almost half of all Asian-owned businesses, the largest growth in the number of businesses occurred among Japanese- and Other Asian-owned businesses, with Bangladeshi and Pakistani owners making up the bulk of Other Asian business owners.
  • Self-employment may be the option some Asian workers take because they are shut out of the mainstream job market due to language skills or citizenship status.
The study makes the following recommendations to the city to better support Asian-owned small businesses:
  • Address the growth and diversity among Asian small businesses. Tackle the diversity of languages spoken in the city and build comprehensive and robust assistance programs that reach all of the potential entrepreneurs in the Asian community.
  • Improve awareness of existing programs that help Asian-owned businesses comply with rules and regulations by creating a single point of contact for Asian owners and by working with chambers of commerce and business associations to provide relevant education to small businesses.
  • Create new programs or enhance existing ones that support the expansion of small businesses.
  • Develop training programs that improve the skills of small business workers, such as English classes that address workplace needs and workforce training programs that are closely aligned with small business needs.
Jo-Ann Yoo, executive director of the federation, said, “Asian small businesses have increasingly become a vital economic force in New York City, and this report finally provides the numbers to prove that our city depends on Asian entrepreneurs to sustain its economic activity and employment rate.”

“Asian-owned small businesses were borne out of necessity,” said Howard Shih, research and policy director of the federation. “Yet, despite being shut out of mainstream jobs due to limited English proficiency and/or citizenship status, Asian New Yorkers have found a way to shape the very fabric of this city’s economy. With real investment in their education and training, we are certain to see a great return on our investment in the long term.” – Cristina DC Pastor/The FilAm

Comments

Post a Comment

Popular posts from this blog

POPCOM, gagamit ng ‘digital platforms’ para pagtibayin ang mga ugnayang pampamilya

Mas pinalalawig ng Komisyon sa Populasyon at Pagpapaunlad (POPCOM) ang adhikain nitong pagpapalaganap at pagpapabuti ng pakikipag-ugnayan ng mga nakakatandang Pilipino sa kanilang mga anak na nagdadalaga at nagbibinata. Nitong Setyembre 21, ang POPCOM ay nagsagawa ng isang “parent-teen talk webinar” gamit ang Zoom, kung saan ang isang “interactive program” ang nagbigay ng naaayon na kaalaman at kasanayan sa mga magulang, habang tumulong ito sa mga anak na teenager na maabot ang kanilang buong potensyal. Hinikayat din nito ang mga nanay at tatay na sumali sa malayang usapan, lalo na sa mga usapin ukol sa sex at sekswalidad, na nakikitang makakatulong upang bumaba ang mga bilang ng mga pagbubuntis sa hanay ng mga kabataan. Maaaring mapanood ang webinar sa https://youtu.be/lZ9jrJCjYas. Ayon kay Ikalawang Kalihim (Undersecretary) Juan Antonio A. Perez III, MD, MPH, “ang webinar ay naging isang tagapag-simula at ‘padaluyan’ ng pag-uu
Read more

Biden said set to make push for demilitarized Palestinian state as part of new doctrine ---By LAZAR BERMAN

New York Times’ Thomas Friedman, who’s close to the US administration, says emerging doctrine would include Saudi-Israeli normalization, 2-state solution, and campaign against Iran US President Joe Biden’s administration is homing in on a new doctrine involving an unprecedented push to immediately advance the creation of a demilitarized but viable Palestinian state, The New York Times’ Thomas Friedman reported on Thursday. The plan, Friedman wrote, “would involve some form of US recognition of a demilitarized Palestinian state in the West Bank and Gaza Strip that would come into being only once Palestinians had developed a set of defined, credible institutions and security capabilities to ensure that this state was viable and that it could never threaten Israel.” White House officials “have been consulting experts inside and outside the US government about different forms this recognition of Palestinian statehood might take,” revealed Friedman. What he termed the new “Biden Doctrin
Read more

In Cairo, senior Hamas officials discuss hostage deal with Egyptian intelligence chief ---By TOI STAFF, AGENCIES and LAZAR BERMAN

Delegation said led by terror group’s Qatar-based political leader Ismail Haniyeh; Wall Street Journal reports Hamas demanding 150 security prisoners for each female soldier A delegation of senior Hamas officials arrived in Cairo on Thursday for talks with Egyptian officials on a possible deal that would see the release of hostages held by terrorists in Gaza. The delegation was led by Hamas political leader Ismail Haniyeh, who lives in Qatar, and included senior members Mousa Abu Marzook and Khalil al-Hayya, the Qatar-based Al-Araby news outlet reported, citing an unnamed Egyptian source. The Hamas officials met with the head of Egyptian intelligence, Major General Abbas Kamel, to discuss the details of a hostage deal proposal that was presented to the Gaza terror group earlier this week by Qatari and Egyptian mediators. The outline of the deal was drawn up during a meeting in Paris last week in the presence of Israeli and US officials, as well as Qatari and Egyptian negotiators, a
Read more