An article on Monday’s Businessweek.com points out that business ownership among entrepreneurs between the ages of 55 and 64 is up significantly over the past 15 years. And although there is some degree of speculation as to why that is, one thing is pretty clear, as explained by Ting Zhang, an economist at the Jacob France Institute in the Merrick School of Business at the University of Baltimore. “Older people with experience have an entrepreneurial edge in a knowledge-based economy,” he says, an economy the likes of which we’ve never seen before.
While the article’s author, Chris Farrell, points out that many older people choose business ownership later in life because they want to, he also acknowledges that a number of them may feel that they are left with few other more attractive options. “Nevertheless, whether out of necessity or desire,” he writes, “older entrepreneurs have a number of competitive advantages,” which includes both the knowledge that can only come from experience as well as an extensive network of contacts and support. Furthermore, the advent of unprecedented technological advancement has made the exciting prospect of working from home a possibility for the first time in many people’s lives.
If you’re a baby boomer who wants to pursue your dream of owning your own business and doing something you really enjoy, even the best home service business to start, your time is now! Get started by exploring all the exciting and proven business concepts that are available in the form of home-based and other small business opportunities and franchises on BusinessOpportunity.com today!