You’re never too old to start a business

I’m not getting any younger, but my tiny little business, Vaughan-Nichols & Associates, is still going strong after over 30 years, even though I’m well past retirement age. My retirement plan, as I like to tell people, is to fall over, gracefully, into my keyboard. No, seriously — it’s what writers do.

But that led me to wonder if people my age start businesses. The answer is yes, yes, they do, and in surprisingly large numbers.

According to an Ewing Marion Kauffman Foundation report, Trends in Entrepreneurship, the 55-to-64 group accounted for 22.8% of entrepreneurs in 2021. Another academic study by MIT, Northwestern, Wharton, and US Census Bureau researchers, Age and High-Growth Entrepreneurship, reported that the mean age of US startup founders was 42 years. High-tech founders? Even older: 43. Oh, and those miracle unicorns? 44.

To read this article in full, please click here