BIPOC individuals can be defined as Black, Indigenous, and people of color (Watson-Singleton et al., 2023). BIPOC business owners have been growing for the past two decades. According to a recent report, it is estimated that about 30% of small businesses in the U.S. have been operated by owners with BIPOC background (Office of Advocacy, 2022). Previous research has focused on succession planning in family businesses and dichotomous exit strategies (e.g., stewardship or liquidation). However, few studies have examined how race and ethnicity shape small business owners’ preferences on stewardship exit intentions. This study included two important research questions: RQ1) How are exit strategies of BIPOC business owners different compared to White-American business owners? RQ2) How are business and business owner characteristics associated with the decision to engage in stewardship exit intentions?

Accepted Oral Presentation