Contrary to what most of you might guess, the highest rate of entrepreneurial activity over the last few years is not Gen-Y young upstarts, but Baby Boomers in the 55-64 year age group. In fact, according to a study by the Ewing Marion Kauffman Foundation, these Boomers are actually driving a new entrepreneurship boom.
Some people are calling entrepreneurship the ‘new mid-life crisis’ for the 76 million-strong demographic once thought to be over the hill. Partially due to the economy, but also due to longer, healthier lives and changes in job tenure, 62% of working Boomers are now expected to stay in the labor force, with real power and influence, for at least nine more years, to 2020.
Here is a summary of indicative facts from the earlier study referenced, an update published last year, and others. These indicate that the correct icon for an entrepreneur may now have gray hair, rather than the warm glow of youth:
To read the full, original article click on this link: Startup Professionals Musings: Boomers are Driving a New Entrepreneurship Boom
Author: Martin Zwilling
