Reasons People 50 and Older (50+) Choose to Become Entrepreneurs
- After years of working for others, acting in accordance with established policies and procedures, creating their own business can enable them to “march to their own drummer”.
- Many people 50+ are attracted by the opportunity to create a business that is responsive to their own unique needs, interests, and desires.
- Almost 80% of people 50+ want to continue working, more than half in part-time work; the motivation: they need or want additional income, have a desire to continue in productive activities, or for a variety of other reasons including a recognition that they may be living for 30 more years or longer.
- People 50+ have many years of experience, expertise, seasoned judgment, and proven performance to support creating a new business.
- People 50+ may have developed excellent contacts in the business world that can facilitate their new business venture.
- People 50+ may have accumulated funds to support a new business, may have contacts in the financial world that can provide some financing assistance, and can in any event start small in their own home.
- People 50+ who have continued in productive activities live longer, enjoy better health, and report greater satisfaction with life than those who don’t.