Boomers Move To Self-Employment
Ashlea Ebeling, FORBES 07.02.09, 05:00 PM EDT
Rising unemployment reinforces their entrepreneurial bent.
Fortunately (for those in this age group and for the economy), older workers have recently demonstrated they have a plan B: Work for themselves.
Over the past decade, the highest rate of new-business creation has been posted by the 55 to 64 age group, Dane Stangler, senior analyst at the Kauffman Foundation, a Kansas City, Mo., charity devoted to entrepreneurship, notes in a new report, “The Coming Entrepreneurship Boom.” Using data from the Kauffman Index of Entrepreneurial Activity, the study finds that from 1996 to 2007, Americans aged 55 to 64 averaged a rate of entrepreneurial activity roughly one-third higher than those aged 20 to 34.