Friday, July 26, 2013

Entrepreneurs Come in All Ages

When people typically think of entrepreneurs, they think of 20-somethings starting a tech company. But that stereotype is not quite right. Entrepreneurs come in all ages and start businesses in all industries.

A new study sponsored by Babson and Baruch Colleges and the Global Entrepreneurship Monitor (GEM) Consortium shows that 42.7% of people over 65 work for themselves. Over 25% of Americans over 55 own their own businesses. Compare that with 30.5% of 18 to 24-year-olds who have "entrepreneurial intention."

I'm co-writing a book on entrepreneurship right now with a highly successful entrepreneur who started his business when he was in his 30s. So I was quite excited to see these stats. You do have more at stake when starting a businesses at a more mature age, but you also have years of solid business experience on which you can base your venture.

No matter your age or business background, if you have the entrepreneurial spirit in you, listen to it. When our book is closer to publication, I'll start posting some of the principles from our book that can help you achieve success in your new venture.

You can read more about the study in question at: http://www.gemconsortium.org/docs/2804/gem-usa-2012-report.
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