{"id":6890,"date":"2018-02-13T21:00:07","date_gmt":"2018-02-13T21:00:07","guid":{"rendered":"http:\/\/www.hippodirect.com\/blog\/?p=6890"},"modified":"2020-07-29T17:51:48","modified_gmt":"2020-07-29T17:51:48","slug":"why-50-entrepreneurs-are-fast-growing-segment-of-business-owners","status":"publish","type":"post","link":"https:\/\/www.hippodirect.com\/blog\/why-50-entrepreneurs-are-fast-growing-segment-of-business-owners\/","title":{"rendered":"Why 50+ Entrepreneurs Are Fast-Growing Segment of Business Owners"},"content":{"rendered":"

Modern business culture is filled with examples of top companies like McDonald\u2019s, Home Depot and E*Trade which were founded by an owner past the age of fifty. The internet and globalization have increased opportunities for new business solutions, and millions of these new businesses are being started by more seasoned entrepreneurs<\/span><\/a>.<\/p>\n

According to the 2017 Kauffman Index of Startup Activity<\/span><\/a>, “Older adults are a growing segment of the U.S. entrepreneurial population. Individuals ages fifty-five to sixty-four have gone from making up 14.8 percent of new entrepreneurs in 1996 to 25.5 percent of all new entrepreneurs in 2016.”<\/p>\n

Top 3 Reasons Why Mid-Career Entrepreneurs Spring into Action<\/h2>\n
    \n
  1. Corporate downsizing and the rampant age-discrimination in the new hiring process. Ask anyone you know what\u2019s it like to look for a job past age 50.<\/li>\n
  2. More personal wealth and less family financial obligations \u2013 they\u2019ve already paid for their house and their kids\u2019 college.<\/li>\n
  3. The WTF moment, when someone says \u201cI\u2019m tired of working for someone else. I\u2019m gonna make it happen on my terms.\u201d<\/li>\n<\/ol>\n

    Characteristics Helping the 50+ Year Old Business Owner Succeed<\/h2>\n
      \n
    • A large business contacts network of former customers, co-workers and vendors<\/li>\n
    • Decades of success and knowledge about how to profitably deliver products\/services<\/li>\n
    • Years of experienced collaborating and mentoring<\/li>\n
    • Likelihood of being perceived as more trustworthy<\/li>\n
    • Ability to withstand the financial risk of new business, especially if a working spouse has health insurance<\/li>\n
    • A focused time horizon of 10 \u2013 15 years to grow a business before transitioning to retirement savings and Social Security benefits<\/li>\n<\/ul>\n

      If you\u2019re fifty or older, there\u2019s never been a better time to start a business. If you\u2019re younger than 50, please support the businesses with older owners \u2013 and if you don’t feel like waiting until you’re 50, start your own business today!<\/p>\n","protected":false},"excerpt":{"rendered":"

      Many popular businesses like McDonald\u2019s, Home Depot and E*Trade were founded by an owner past the age of fifty. The internet and globalization have increased opportunities for new business solutions introduced by more seasoned entrepreneurs. There\u2019s never been a better time to start a business.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[54,58,50,51],"tags":[],"class_list":["post-6890","post","type-post","status-publish","format-standard","hentry","category-business-growth","category-entrepreneurship","category-family-business","category-small-business"],"yoast_head":"\nWhy 50+ Entrepreneurs Are Fast-Growing Segment of Business Owners - Hippo Direct<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.hippodirect.com\/blog\/why-50-entrepreneurs-are-fast-growing-segment-of-business-owners\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Why 50+ Entrepreneurs Are Fast-Growing Segment of Business Owners\" \/>\n<meta property=\"og:description\" content=\"Many popular businesses like McDonald\u2019s, Home Depot and E*Trade were founded by an owner past the age of fifty. 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