Why Baby Boomers Are Becoming Entrepreneurs

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Sbishere.com:
Hugh Hefner may not be a Baby Boomer but USA Today thinks he is the poster boy for aging entrepreneurs. So why are baby boomers seeking self-employment at a time when they are supposed to be slowing down and enjoying life?

According to USA Today it is because of:

  • Corporate Layoffs: they would rather take the risk of owning a business rather than get forced into the job market after age 50;
  • Shifting Values: they want more flexible schedules to spend time with aging parents or on hobbies while easing into retirement;
  • Aging Population: The number of Americans age 50 and up will soar by 31 million by 2020, to 118 million, the Census Bureau predicts;
  • 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: entering their 50s, leverage management skills and retirement benefits to invest in start-ups.
  • There is no better day than today
    to start to live your dream and start your business.

     

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