Wed 1 Jul 2009
Tips for Business-Starting Baby Boomers
Posted by Megan Dorn under Entrepreneurship, Small Business
Baby boomers starting businesses is a topic we’ve covered before, a few times in fact. Nonetheless, it’s a hot topic that continues to gain traction as more and more boomers hit retirement age, especially in today’s economic climate.
The great thing for many boomers entering into entrepreneurship is that they have more capital to invest, at least more than the average entrepreneur. The problem with that, however, is that because of their age they have more to lose—like their life savings for example. Luckily they also have knowledge and experience to put them ahead of the game and invest their money wisely.
U.S. News and World Report published an article a few days ago on this very same topic. In it they outline “6 tips for starting a business after age 50.” If you’re a boomer either in business or thinking about starting one, you should take a few minutes to check it out.
Right now this economy needs small business creation to help stimulate growth. We can’t just rely on the government to break out its magic wand and fix it for us. It doesn’t work that way (even though that does sound much easier). I think that in reading the article many boomers may find that they are, in fact, perfectly primed for entrepreneurship. Who knows, some may even be spurred to action!
