Do Baby Boomers Succeed Above the Age of 50?

Category: Business

The startup business world conjures up images of young entrepreneurs who are go-getters with a devil-may-care attitude and audacious ability to take risks. But, there’s another kind of entrepreneur -equally energetic and passionate, just over the age of 60 and drawing on a lifetime of experience to take a second shot at the working life. Typically, baby boomers are referred to those born between the mid-1940s to 1964, putting their current age at 54-72. Following World War II, there was a ‘baby boom’, and hence the nickname. Contrary to popular belief, there are still many baby boomers out there who are not retired. In fact, many baby boomers are at the peak of their earning years now. They are not slowing down. Forget retirement, they are making their mark in the small business segment. Many “senior citizens”—for want of a better word—have launched their own startup and are successfully running their business in areas as diverse as technology and food manufacturing. Their secret to success is their lifetime of experiences and skills. A staggering percentage of business owners over the age of 50 got into business ownership by starting their own business or buying existing businesses.