Understanding the Asian Business Landscape in the Commonwealth

The brief report provides an overview of the state of Asian-owned businesses in Massachusetts, highlighting both the tremendous growth in the number of Asian- and AAPI-owned businesses in the state and their growing impact. However, Asian entrepreneurs face challenges like declining revenues during COVID, difficulty accessing capital and business assistance programs, and lack of partnerships with anchor institutions. It calls for increased access to capital, targeted outreach and language services, partnerships and collaboration, and disaggregated data collection as steps needed to expand advocacy for AAPI business needs.