Boomer Entrepreneurs Drawing National Attention

My coaches and I have known since at least 2000 that there is a "Boomer Business Bonanza" occuring in the U.S.

What do I mean by this?

Well, as long as I have been in the business start-up coaching business (more than 24 years now), there have always been a substantial number of people starting their first business after age 50.

But, in the 1980's and 90's new business owners in this age bracket probably represented less than 10% of the new business launched each year - most people over age 50 preferred staying in the corporate world as long as they could.

And this continued into the early 2000's.

But, as we moved into the 2004-2005 timeframe, we started to experience a growing number of management layoffs by large employers, many among workers over age 50 who these companies considered (and still do consider) to be "more expensive" than younger employees.

From 2008-2010, this unfortunate trend really accelerated with more than 2.5 million corporate employees over age 50 being  let go by their corporate employers. This number drawfs any previous number of layoffs in past recessions among this age group.

So, you probably won't be surprised to discover that for the past seven years, Americans 50-65 have been the fastest growing group of new business owners in the U.S.

This is impressive by itself. But, in addition the Kauffman Foundation, a top entrepreneurial research group, estimated that in 2010 more than 85 % of all new businesses launched in the U.S. were by someone over age 50!

Now, that's impressive!!!

So, once again we "leading edge" boomers rule!

And finally we boomer entrepreneurs are getting national attention from two behemoths - AARP and the U.S. Small Business Administration.

In a press release dated 5/31/12, AARP and SBA announced a new partnership to bring entrepreneruial resources and training to 100,000 Americans over age 50.

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We've been talking to the folks at AARP for several years about offering a much more robust resource area for 50+ entrepreneurs on their website. And I've personally presented several "start your business" orientation workshops to my boomer peers through SBA small business centers in the Chicago area.

So, let me close by saying...

Welcome to you both. America's entrepreneurial economy is being driven by people over 50 and we welcome all the professional help we can get.

Till we speak again,
Jeff Williams