In doing some very early research about starting another business, I came across an interesting study by the Kauffman Foundation. This economic downturn continues to smash this fantasy about working hard, saving money, investing and then retiring into Blisstown USA. And that likely makes a lot of older boomers really, really pissed off and jaded. Yet this report indicates that the recession has become a breeding ground for boomers to return to work running their own businesses.
I think this is exciting news. At least for me. As I’m on the tail end of the boomers, I’m still one of them and hoping I can someday soon, successfully run my own business and likely never retire because I’m really enjoying what I’m doing.
The study was conducted by Dane Stangler, senior analyst at the Kauffman Foundation. And to quote directly from the synopis: “The decline of lifetime employment, the experience and knowledge of the age group, longer lifespan, and the effect of the current recession are all factors contributing to the increase in entrepreneurial activity in the baby boom generation. The study was conducted by Dane Stangler, senior analyst at the Kauffman Foundation.
“Key findings: In every single year from 1996 to 2007, Americans between the ages of 55 and 64 had a higher rate of entrepreneurial activity than those aged 20-34, averaging a rate of entrepreneurial activity roughly one-third larger than their youngest counterparts.”