50+ Entrepreneurs

Many baby boomers are looking for what the Small Business Administration describes as an "encore" career. These boomer entrepreneurs are primarily choosing to start businesses because it allows them to be independent (32%), pursue their interests and passions (27%) or increase their income (24%), rather than committing to the grueling task of starting and managing a high-intensity, high-growth venture. Very few (10%) are pursuing an idea for a new product or service that solves a problem or meets an unfulfilled need in the market -- the type of business that would typically have immense growth potential.



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