Sure we hear about all those young whippersnappers starting up companies like Facebook and making gazillions of dollars. However, it’s people like us–the “over 35” crowd–who are making the biggest splash in startups.
According to The Business Insider War Room, “people over the age of 35 made up 80 percent of the total entrepreneurship activity in 2009.” However, people 55 and up were more likely to start businesses in “high-growth” industries like aerospace, defense, health care, and computer and electronics.
“It turns out that over the past decade or so, the highest rate of entrepreneurial activity belongs to the 55-64 age group,” writes The Ecopreneurist when citing a Kauffman Index report.
Reasons for an increase in startups for the over 35 crowd vary from having more financial stability and larger networks to being let go from long-term careers. Some are looking for a career change and a chance to live their dreams because they are tired of working for “the man.”
Additionally, it is easier today to create a startup than before. Previous stumbling blocks such as high fees and lack of information no longer exist. Many states are even supporting startups with grants and “incubator programs” where an established business allows a startup cheap or no-rent space for a specific period of time while mentoring them.
So, why do we only hear about young people starting companies?
Business Insider also gives this quote from Stefan Theil of Newsweek :
“Part of the reason that companies started by older workers don’t get much recognition is because they don’t generally produce hot Web apps or other easily understood products. Instead, they tend to involve more complex technologies like biotech, energy, or IT hardware. They also tend to sell products and services to other businesses, which consumers rarely see but which do most of the heavy lifting in powering innovation and economic growth.”
So, we are making a difference in the business industry, just don’t expect them to make movies about us.
[author] [author_image timthumb=’on’]http://primeparentsclub.com/wp-content/uploads/2010/11/WritRamsSockMonkeyHat.jpg
[/author_image] [author_info]About the Author
Jacqueline Wilson is a prime parent who is a wife, mother, published author and freelance writer and has created a few startups of her own. She writes here, on Prime Parents’ Club, and on her observational parenting humor blog, WritRams.com: Writer Ramblings on Parenting Imperfectly. Follow her on Twitter as @WritRams or on Facebook.[/author_info]