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The Impact of the COVID-19 Pandemic on Business Ownership Across Racial/Ethnic Groups and Gender

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  • Shinae L. Choi

    (The University of Alabama)

  • Erin R. Harrell

    (The University of Alabama)

  • Kimberly Watkins

    (University of Georgia)

Abstract

This study examined the economic impact of the COVID-19 pandemic on US older entrepreneurs’ 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, p

Suggested Citation

  • Shinae L. Choi & Erin R. Harrell & Kimberly Watkins, 2022. "The Impact of the COVID-19 Pandemic on Business Ownership Across Racial/Ethnic Groups and Gender," Journal of Economics, Race, and Policy, Springer, vol. 5(4), pages 307-317, December.
    • Handle: RePEc:spr:joerap:v:5:y:2022:i:4:d:10.1007_s41996-022-00102-y
    DOI: 10.1007/s41996-022-00102-y
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    References listed on IDEAS

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    1. Matthew S. Rutledge & Norma B. Coe & Kendrew Wong, 2012. "Who Claimed Social Security Early Due to the Great Recession?," Issues in Brief ib2012-14, Center for Retirement Research.
    2. Simon Mongey & Laura Pilossoph & Alexander Weinberg, 2021. "Which workers bear the burden of social distancing?," The Journal of Economic Inequality, Springer;Society for the Study of Economic Inequality, vol. 19(3), pages 509-526, September.
    3. Fairlie, Robert W., 2020. "The Impact of COVID-19 on Small Business Owners: Evidence of Early-Stage Losses from the April 2020 Current Population Survey," IZA Discussion Papers 13311, Institute of Labor Economics (IZA).
    4. Granja, João & Makridis, Christos & Yannelis, Constantine & Zwick, Eric, 2022. "Did the paycheck protection program hit the target?," Journal of Financial Economics, Elsevier, vol. 145(3), pages 725-761.
    5. Humphries, John Eric & Neilson, Christopher A. & Ulyssea, Gabriel, 2020. "Information frictions and access to the Paycheck Protection Program," Journal of Public Economics, Elsevier, vol. 190(C).
    6. Stephen, Roper & Jonathan M., Scott, 2009. "Perceived financial barriers and the start-up decision: An econometric analysis of gender differences using GEM data," MPRA Paper 23342, University Library of Munich, Germany.
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    Cited by:

    1. Choi, Shinae L. & Lee, Yoon G., 2023. "Financial hardship and change in emotional well-being before to during COVID-19 pandemic among middle-aged and older Americans: Moderating effects of internal coping resources," Social Science & Medicine, Elsevier, vol. 317(C).

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