Experience counts. Entrepreneurs are getting older and, presumably, wiser. The average age of first-time entrepreneurs is now 43. According to the latest LegalZoom survey by the Kauffman Foundation, a nonprofit organization supporting entrepreneurship, most of America’s entrepreneurs were in their early 20s in 1996. Today, the majority of entrepreneurs are nearly equally split between people in their mid-30s and mid-50s with more than 20% of start-up founders between the ages of 55 and 64.
In just 17 years, America’s entrepreneurial landscape has undergone a dramatic shift toward older workers with greater business experience. Although tech industry entrepreneurs still tend to be under 40, the middle-aged and senior crowds are muscling their way past recent Harvard grads on the start-up scene. The vitality of retiring baby boomers that aren’t quite ready to sit on the sidelines and limited opportunities for older workers in the still challenging job market certainly play a role. For many older workers, opening their own business may be their best option to work in their chosen field and make a reasonable income doing so.
Typically, older entrepreneurs are well positioned to take advantage of business opportunities. Older entrepreneurs are more likely to have the start-up capital to begin a business and the business network needed to get it off the ground. They typically have the business knowledge and field experience required to manage a new business effectively and develop creative solutions as problems arise. And, having been there, done that, they frequently have a great idea for improving their field that is imminently marketable.
All older entrepreneurs may need to get their idea off the ground is an easily accessible platform for getting the word out to the public. That’s where Zoondy comes in. Zoondy is a virtual marketplace that brings together people who have ideas, products or services to sell and people who want to buy them. (Click here to find out how Zoondy works.) Free and easy to join, Zoondy limits up-front costs, allowing entrepreneurs to try out new ideas with minimal financial risk. Click here to get started on Zoondy today!