Baby Boom Senior Citizens Are The NEW Entrepreneurs
Jim Hopkins in a recent USA Today article reports that American senior citizens over 50 are the new entrepreneurs.
“Call them grandma-and-grandpop businesses. New research shows 5.6 million workers age 50 and older are now self-employed, a 23% jump from 1990. The numbers are expected to rise further as baby boomers seek more job security, Americans get older and cheaper technology drives down start-up costs.”
Hopkins further cites as reasons why the AARP-eligible seniors are starting small businesses:
“Corporate Layoffs. Boomers want the security of being their own bosses when corporations are slashing payrolls, tossing fiftysomethings into a dicey labor market. One-third of AARP members work, and many need to work beyond the traditional retirement age of 65.
Shifting values. Older workers want more flexible schedules to spend time with aging parents or on hobbies while easing into retirement
Aging Americans. The number of Americans age 50 and up will soar by 31 million by 2020, to 118 million, the Census Bureau predicts. Much of that represents the aging of the huge baby boom generation.
Innovative technology. Many start-ups by older entrepreneurs are one-person ventures in home offices with a dizzying array of technology that didn’t exist or was too pricey 20 years ago.
Business savvy. Many corporate workers, entering their 50s, leverage management skills and retirement benefits to invest in start-ups.”
Read Jim Hopkin’s complete article at:
http://www.usatoday.com/printedition/news/20050118/1a_cover18.art.htm
