@article {12455,
	title = {The Impact of the COVID-19 Pandemic on Business Ownership Across Racial/Ethnic Groups and Gender.},
	journal = {Journal of Economics, Race, and Policy},
	volume = {5},
	year = {2022},
	pages = {307-317},
	abstract = {<p>This study examined the economic impact of the COVID-19 pandemic on US older entrepreneurs{\textquoteright} businesses using the Health and Retirement Study. We estimated logistic regression models to document the odds of experiencing economic impact. The COVID-19 pandemic has affected nearly 76\% of US older entrepreneurs but has disproportionately impacted the businesses of Black, Hispanic, Asian/other races, and women entrepreneurs. Older Black entrepreneurs had significantly higher odds of facing business closure (OR = 2.31,  < .01), implementing new procedures (OR = 2.44,  < .01), workers quitting (OR = 2.95,  < .001), and difficulty paying regular bills (OR = 2.88,  < .001) than their White counterparts. Older Hispanic entrepreneurs also had significantly higher odds of instituting new procedures (OR = 2.27,  < .05), workers quitting (OR = 2.26,  < .01), and difficulty paying regular bills (OR = 2.35,  < .01) than their White counterparts. Similarly, older Asian/other races entrepreneurs were significantly more likely to report difficulty paying regular bills since the start of the pandemic than their White counterparts (OR = 3.11,  < .01). Women entrepreneurs were significantly more likely to close their businesses than their male counterparts (OR = 2.11,  < .001). These significant associations persisted after controlling for confounders. Support for underserved racial/ethnic groups and older women entrepreneurs should focus on accessibility to financial services, capital, and support packages as well as legislative support for ensuring business continuity and success.</p>},
	keywords = {COVID-19, Entrepreneurship, gender, Race/ethnicity},
	issn = {2520-842X},
	doi = {10.1007/s41996-022-00102-y},
	author = {Choi, Shinae L and Harrell, Erin R and Watkins, Kimberly}
}
