Regret is a complex emotion that is associated with one’s decision-making. Since entrepreneurship entails a lot of decisions, it facilitates a great ground to explore regret. Meanwhile it is understood that regret can influence behaviour and entrepreneurial processes, such as decision-making - one important being exit decisions. This study positions itself between these two themes of regret and exit, where we aim to explore what entrepreneurs express regrets about and how those reflect on their exit decisions. For the data collection, in-depth semi-structured interviews were conducted with 6 entrepreneurs who had different exit decisions. Using a phenomenographic approach, we found that regrets are expressed on instances of career choice, firm performance and through challenges and motivations. However, it was rather difficult to find a clear correlation between entrepreneurs’ regrets and their exit decisions which is a limitation in this study. Rather, both regret and exit decisions can be based on the same factors, where regret can indirectly cause exit.