Small Business Owner Succession and Exit Intentions: North Central Region Analysis

Renee D. Wiatt

No 396377, NCR-Stat Discussion Papers from North Central Regional Center for Rural Development (NCRCRD)

Abstract: Rural small businesses have been and continue to be the backbone of their local community. Rural small businesses consist of more than simply farms that we often associate with rural. Rural small businesses deliver more than just goods and services to their community; they serve as a gathering place, a social hub, and support for the rural residents that they serve. Thus, when a rural small business closes instead of passing to the next generation, the community loses more than just a business. They lose a local partner, a community gathering spot, and the goods, services, and jobs that they provide. This article takes an introductory look into the exit intentions, succession plans, and what is needed to bring in the next generation.

Keywords: Agribusiness; Community/Rural/Urban Development (search for similar items in EconPapers)
Pages: 5
Date: 2026-03-29
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Persistent link: https://EconPapers.repec.org/RePEc:ags:ncrcrd:396377

DOI: 10.22004/ag.econ.396377

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