Hear from next generation entrepreneurs who have taken, or will take the reins from their parents.
Katty Lau of Lai Hing and Sophia Tsao of Po Wing Hong join us to share their experiences navigating the transition, their role in carrying a family legacy forward, and what role change plays in all of it.
With aging legacy business owners, Chinatown is at risk of losing many of its legacy businesses within the next decade. Individuals like Sophia and Katty's work show us what the future of Chinatown could look like in the hands of its next generation.
Whether you're a business owner considering transition, or an individual considering taking over a family business, this event is for you. Join us for this candid conversation led by Ashley So of HR&A Advisors.
Meet the Speakers:
Sophia Tsao
Po Wing Hong
Sophia Tsao is the Executive Vice President of Po Wing Hong Food Market Inc., a Chinatown institution in Manhattan with over 45 years of history. Founded by her parents, Patrick and Nancy Ng, Po Wing Hong is celebrated for its curated selection of premium Chinese delicacies. Today, Sophia drives the company’s growth across wholesale, retail, import/export, and e-commerce, blending tradition with modern business innovation. She’s also a dedicated community advocate, serving on the Board of the Charles B. Wang Community Health Center, a nationally recognized HRSA Quality Leader. A sought-after speaker on traditional Chinese ingredients as well as the Chinatown community at large, Sophia and Po Wing Hong have been spotlighted by JP Morgan Chase, New York Times, PBS, Thrillist Explorers Podcast, and Condé Nast Traveler.
Katty Lau
Lai Hing Jewelry
Katty Lau is a third-generation jeweler and creative director of Lai Hing Jewelry. Her family’s jewelry legacy began in China in 1962, before expanding to Hong Kong and then New York, where Lai Hing became a trusted name in New York City's Chinatown since 1982. A Parsons School of Design graduate with training in Florence, Katty blends her heritage with modern design to attract a new generation of customers while honoring Lai Hing’s tradition of 24K gold craftsmanship. Today, Lai Hing has four retail locations across Manhattan, Brooklyn, and Queens Chinatowns, and has expanded its offerings to include jade, diamond, 18k, gemstone, and platinum fine jewelry. The brand continues to give back to the community, including its 17-year sponsorship of the Miss New York Chinese Pageant.
Ashley So
HR&A Advisors
Ashley is a director at HR&A, a nationally leading economic development, real estate, and public policy advisory firm with a mission to create vital places, build more equitable and resilient communities, and improve people’s lives. Ashley works with public, private, and nonprofit clients to advance equitable economic development for diverse communities. She draws on her multidisciplinary and analytical background to develop place-based economic development, inclusive workforce development, and community engagement strategies across the country. She has also supported mission-driven organizations with organizational design and business planning, including Welcome to Chinatown. As part of Round 5 of New York State’s Downtown Revitalization Initiative, Ashley helped lead the planning process for the $20 million awarded to Manhattan’s Chinatown. Ashley also supported the planning for the Chinatown Solidarity Summit in 2024 which brough together leaders and representatives from 21 Chinatowns across North America. Ashley is a former co-lead of the Asian American & Pacific Islander (AAPI) Employee Resource Group at HR&A.
Manhattan Chinatown is facing a succession crisis. As small business owners age, many lack a plan for passing their businesses on. In immigrant communities like Chinatown, these legacy businesses are core to the neighborhood's character. In losing them, we risk the erosion of a community’s culture and identity.
In Good Hands is a conversation series hosted by Welcome to Chinatown that dives into the challenges and possibilities of succession planning. The series explores both the practical and personal sides of business transitions, offers insights into different paths forward, and creates a supportive space for those navigating this critical turning point together.