Why Grandma Could Start the Next Facebook
New data suggests aging baby boomers are leading the surge in entrepreneurship. In a recent article, the Fortune Small Business unit reports how a recent study found that the number of middle-aged Americans starting their own business is surging.
According to the U.S. Bureau of Labor Statistics, the ranks of the self-employed aged 55 to 65 rose 33 percent in 2006; the number of self-employed 25- to 35-year-olds fell 2 percent.
In a quarterly survey by outplacement firm Challenger Gray & Christmas (challenger-gray.com) of its clients – mostly managers and executives – the number starting firms or turning to self-employment rose 29 percent in the first quarter of 2007 over the first three months of 2006. Of those, a staggering 88 percent were 40 and older.
You can find the U.S. Bureau of Labor Statistics study (in PDF format) here.
About the Author
Ryan Roberts is a startup lawyer and represents technology companies through all phases of the startup process, including incorporation, seed & venture financings, and exit transactions. Click here to learn more about his practice.
This article supports what I have been preaching for some time – that boomers are “the next big thing” in startups. See my article on http://blog.startupprofessionals.com titled “Engage Boomers in your Startup” which recommends specific roles where they are the best candidates.
Marty Zwilling, Founder & CEO, Startup Professionals, Inc.