Small Business is our Business

More Americans are starting businesses later in life.  Almost one-quarter  (23.6%) of new businesses were started by entrepreneurs ages 55-64 in 2013, an increase from 14% in 1996.  This is the latest data from the Kauffman Index of Entrepreneurial Activity.  For many of these older Americans, it is a way to strengthen their financial security and a way to stay active and employed.  A survey conducted by the Employee Benefit Research Institute finds  65% of boomer plan to work in retirement.  Reason cited for continuation in the workplace include:  need/want income (62%), stay involved (18%) , and really like what they do (16%).

 

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