If starting your own business is not your cup of tea, then getting a job in business, working for an older business person, may be the place to look.
The entrepreneurial spirit is alive and growing in the United States. This trend is being led by older entrepreneurs. According to the Ewing Marion Kauffman Foundation, we may be just at the start of a growing cycle of modern day start ups led by budding business people in their fifties and sixties. "Contrary to popularly held assumptions, it turns out that over the past decade or so, the highest rate of entrepreneurship activity belongs to the 55-64 age group," the report said. "In every single year from 1996 to 2007, Americans between the ages of 55 and 64 had a higher rate of entrepreneurial activity than those aged 20-34." Kauffman went on to add that with people living longer, we could expect seventy year olds to be starting businesses in the 2020’s.
In the excellent PBS special, The Boomer Century 1946-2046, it was reported, “four out of five boomers intend to keep on working and earning in retirement. Half of the boomers plan to launch into an entirely new job or career in retirement.” This adds credence to the notion that you are never too old to start a business or too young to work for someone older.
Dennis Ceru, adjunct professor at Babson College, says, "People are living longer, they're living healthier, and they're living more energetic lives, and it's hardly surprising that so many want to begin new businesses.” This is a different path than their parents took, who typically worked for the same company all of their lives and then retired.
According to the PBS special, spokesperson and aging specialist, Ken Dycthwald, discussed that when it comes to retirement, boomers can be put into two categories. The first type is the kind that want to retire and live off their savings and social security. The other type does not want to retire. There are two reasons for this: first, many of them want to stay active and be part of society. It seems people get a feeling of importance working and being connected to others through their work. Second, they need the money. Either they didn’t do an effective job of saving or lost much of their savings in the stock market crash a few years ago. The PBS special goes on to say that, “One out of seven plan to collect social security benefits at age 62.” With all of these factors combined, the boomers are the place to put your bets for the entrepreneurial spirit to grow.
Interestingly enough, it seems the older entrepreneur has a much higher percentage of successful business ventures. Ceru says, "Usually, we say that entrepreneurs who stay close to their experience base often show greater success in their ventures." With age comes experience, so boomers seem to be right on target. Ceru also says that not only do boomers want to earn a profit with their business venture, they want to make a difference on the planet. They want to leave a positive thumb print on mother earth.
No matter how old you are, if you have thought about starting your own business, now may be the best time to do it.
Tom Borg is a consultant in leadership management, team building and customer service. Please see more of his blogs go to businessworkforceblog.com and csjobsblog.com. To view additional job postings go to Nexxt
The entrepreneurial spirit is alive and growing in the United States. This trend is being led by older entrepreneurs. According to the Ewing Marion Kauffman Foundation, we may be just at the start of a growing cycle of modern day start ups led by budding business people in their fifties and sixties. "Contrary to popularly held assumptions, it turns out that over the past decade or so, the highest rate of entrepreneurship activity belongs to the 55-64 age group," the report said. "In every single year from 1996 to 2007, Americans between the ages of 55 and 64 had a higher rate of entrepreneurial activity than those aged 20-34." Kauffman went on to add that with people living longer, we could expect seventy year olds to be starting businesses in the 2020’s.
In the excellent PBS special, The Boomer Century 1946-2046, it was reported, “four out of five boomers intend to keep on working and earning in retirement. Half of the boomers plan to launch into an entirely new job or career in retirement.” This adds credence to the notion that you are never too old to start a business or too young to work for someone older.
Dennis Ceru, adjunct professor at Babson College, says, "People are living longer, they're living healthier, and they're living more energetic lives, and it's hardly surprising that so many want to begin new businesses.” This is a different path than their parents took, who typically worked for the same company all of their lives and then retired.
According to the PBS special, spokesperson and aging specialist, Ken Dycthwald, discussed that when it comes to retirement, boomers can be put into two categories. The first type is the kind that want to retire and live off their savings and social security. The other type does not want to retire. There are two reasons for this: first, many of them want to stay active and be part of society. It seems people get a feeling of importance working and being connected to others through their work. Second, they need the money. Either they didn’t do an effective job of saving or lost much of their savings in the stock market crash a few years ago. The PBS special goes on to say that, “One out of seven plan to collect social security benefits at age 62.” With all of these factors combined, the boomers are the place to put your bets for the entrepreneurial spirit to grow.
Interestingly enough, it seems the older entrepreneur has a much higher percentage of successful business ventures. Ceru says, "Usually, we say that entrepreneurs who stay close to their experience base often show greater success in their ventures." With age comes experience, so boomers seem to be right on target. Ceru also says that not only do boomers want to earn a profit with their business venture, they want to make a difference on the planet. They want to leave a positive thumb print on mother earth.
No matter how old you are, if you have thought about starting your own business, now may be the best time to do it.
Tom Borg is a consultant in leadership management, team building and customer service. Please see more of his blogs go to businessworkforceblog.com and csjobsblog.com. To view additional job postings go to Nexxt
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