Why Grandma Could Start the Next Facebook

By Startup Issues

New data suggests aging baby boomers are leading the surge in entrepreneurship. In a recent article, the Fortune Small Business unit reports how a recent study found that the number of middle-aged Americans starting their own business is surging.

According to the U.S. Bureau of Labor Statistics, the ranks of the self-employed aged 55 to 65 rose 33 percent in 2006; the number of self-employed 25- to 35-year-olds fell 2 percent.

In a quarterly survey by outplacement firm Challenger Gray & Christmas (challenger-gray.com) of its clients – mostly managers and executives – the number starting firms or turning to self-employment rose 29 percent in the first quarter of 2007 over the first three months of 2006. Of those, a staggering 88 percent were 40 and older.

You can find the U.S. Bureau of Labor Statistics study (in PDF format) here.


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