Characteristics of small business owners (N = 471)
| Give to family (n = 206) | Sell to family (n = 64) | Sell to outsider (n = 84) | Liquidate (n = 117) | |
|---|---|---|---|---|
| Mean (S.D.) | Mean (S.D.) | Mean (S.D.) | Mean (S.D.) | |
| SEW | 5.64 (0.94) | 5.37 (1.02) | 4.98 (1.20) | 4.17 (1.53) |
| Rural | 0.37 (0.48) | 0.50 (0.50) | 0.24 (0.43) | 0.37 (0.49) |
| Family ownership | 0.71 (0.45) | 0.81 (0.39) | 0.54 (0.50) | 0.35 (0.48) |
| Female owner | 0.54 (0.50) | 0.36 (0.48) | 0.51 (0.50) | 0.64 (0.48) |
| BIPOC owner | 0.36 (0.48) | 0.45 (0.50) | 0.35 (0.48) | 0.11 (0.31) |
| Owner age | 42.05 (12.38) | 38.77 (11.86) | 40.80 (12.97) | 53.93 (13.40) |
| Business age | 12.78 (11.49) | 13.55 (13.42) | 13.12 (11.27) | 14.01 (11.84) |
| Sole proprietor | 0.67 (0.47) | 0.44 (0.50) | 0.62 (0.49) | 0.73 (0.45) |
| Ln business income | 11.71 (2.22) | 11.20 (2.62) | 11.61 (2.75) | 10.83 (2.39) |
| Employees | 18.65 (22.85) | 21.86 (27.22) | 17.60 (23.28) | 4.69 (11.94) |
| Wholesale | 0.28 (0.45) | 0.38 (0.49) | 0.24 (0.43) | 0.21 (0.41) |
| Production | 0.30 (0.46) | 0.25 (0.44) | 0.20 (0.40) | 0.11 (0.32) |
| Services | 0.42 (0.50) | 0.38 (0.49) | 0.56 (0.50) | 0.68 (0.47) |
| Give to family ( | Sell to family ( | Sell to outsider ( | Liquidate ( | |
|---|---|---|---|---|
| Mean (S.D.) | Mean (S.D.) | Mean (S.D.) | Mean (S.D.) | |
| SEW | 5.64 (0.94) | 5.37 (1.02) | 4.98 (1.20) | 4.17 (1.53) |
| Rural | 0.37 (0.48) | 0.50 (0.50) | 0.24 (0.43) | 0.37 (0.49) |
| Family ownership | 0.71 (0.45) | 0.81 (0.39) | 0.54 (0.50) | 0.35 (0.48) |
| Female owner | 0.54 (0.50) | 0.36 (0.48) | 0.51 (0.50) | 0.64 (0.48) |
| BIPOC owner | 0.36 (0.48) | 0.45 (0.50) | 0.35 (0.48) | 0.11 (0.31) |
| Owner age | 42.05 (12.38) | 38.77 (11.86) | 40.80 (12.97) | 53.93 (13.40) |
| Business age | 12.78 (11.49) | 13.55 (13.42) | 13.12 (11.27) | 14.01 (11.84) |
| Sole proprietor | 0.67 (0.47) | 0.44 (0.50) | 0.62 (0.49) | 0.73 (0.45) |
| Ln business income | 11.71 (2.22) | 11.20 (2.62) | 11.61 (2.75) | 10.83 (2.39) |
| Employees | 18.65 (22.85) | 21.86 (27.22) | 17.60 (23.28) | 4.69 (11.94) |
| Wholesale | 0.28 (0.45) | 0.38 (0.49) | 0.24 (0.43) | 0.21 (0.41) |
| Production | 0.30 (0.46) | 0.25 (0.44) | 0.20 (0.40) | 0.11 (0.32) |
| Services | 0.42 (0.50) | 0.38 (0.49) | 0.56 (0.50) | 0.68 (0.47) |
Note(s): Production includes agriculture, mining, construction, manufacturing; Wholesale includes wholesale trade and food services; Services includes trade professions such as finance, education, healthcare and entertainment. Rural: remote area and/or town less than 10,000 people
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