Boomers are Zooming and Booming! They are starting their own businesses, according to a Kauffman Foundation study that predicts the United States may be “on the cusp of an entrepreneurship boom.”
The past year’s economic upheavals also may produce more entrepreneurs among all age groups.
Over the past five years, Americans between the ages of 55 and 64 had the highest rate of entrepreneurial activity of any age group. The 20-34 age bracket had the lowest rate. The recession is increasing entrepreneurial activity among older Americans.
“While people under age 30 have historically jumped from job to job, the most striking development today has been the deep drop in the incidence of ‘lifetime’ jobs among men over age 50,” according to Dane Stangler, senior analyst at the Kauffman Foundation and author of the study.
“Recent economic trends – away from lifetime jobs and toward more new companies – will thus gain even greater cultural traction. New and stronger regulations aiming to prevent the rise of such giant organizations also may help create a more market-oriented society,” writes Dane Strangler.