The baby-boomer generation – those born between the end of World War II and the British Invasion of the mid-1960s – are nearing or have reached full retirement age. Many boomers, however, are unwilling to take up the rocking chair. Boomer small businesses are a big business.
According to Allbusiness.com, the 2018 Small Business Trends for Baby Boomers survey of more than 2,600 small-business owners and entrepreneurs held surprises. Retirement age aside, the 50-plus entrepreneur is tapping into work experience, a wide-ranging professional network and financial stability to become business owners.
Here are the findings:
Baby boomers certainly face some challenges, but more experience, more time and more financial resources give the over-50 an edge on younger counterparts when it comes to small-business success stories.