Examining the Entrepreneurial Intentions of U.S. Ethnic Minorities During the Covid-19 Pandemic

Abstract

We examine minority entrepreneurial intentions in the U.S. and seek to make business leaders and business educators aware of minority students’ interest in entrepreneurship activity. Utilizing the theory of planned behavior, we investigated if demographic and behavioral factors are related to entrepreneurial intentions. A major contextual factor was that we performed our research during the COVID-19 pandemic. We surveyed the entrepreneurial intentions of 400 U.S. business college students, comparing minority respondents (n=137) with white respondents (n=263). The minority respondents belonged to the three predominant minority entrepreneur groups in the U.S. -- African Americans, Hispanic Americans, and Asian Americans. Minority respondents had significantly greater entrepreneurial intentions than their white counterparts. We investigated contextual factors affecting minority entrepreneurial intentions and found that a significant difference existed regarding the influence of the COVID-19 pandemic in that it counter-intuitively increased minority entrepreneurial intentions. Significant personal factors included having family members who own a business and having a role model.