Aging Boomers lead startup growth
A study finds that the number of middle-aged Americans starting businesses is surging.
(FSB Magazine) -- Which Americans are leading the surge in entrepreneurship? Aging boomers.
According to the U.S. Bureau of Labor Statistics (bls.gov/cps/cpsaat15.pdf), 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.click here.