SBA Launches Section of Website Geared to 50+ Entrepreneurs

The U.S. Small Business Administration (SBA) has recently added a section to its already helpful website geared to entrepreneurs and wannabe entrepreneurs who are 50 and older, which they call The 50+ Entrepreneur at http://www.sba.gov/50plusentrepreneur/. Why?

The SBA introduces the section by saying:

For many Americans born between 1946 and 1964, retirement has a very different meaning than it did a generation ago. According to a recent USA Today/Gallup poll, 63% of non-retired adults in the United States plan to work in retirement; two-thirds say enjoyment of work is the key reason.

I'm not so sure about "enjoyment of work", but with the financial hit the stock market has taken recently, it's quite likely that retirement savings accounts have been siphoned off considerably. Add to that growing unemployment and mortgage foreclosures, and more will be forced to take early withdrawals from those now shrunken savings plans. And, with the added uncertainties of the financial strength of the Social Security program, the dwindling number of good retirement plans as employers try to cut expenses, and the increasing burden of health insurance and utility costs, it's no wonder few of us will be able to retire in the way our parents did.

Operating a home business is a good way for 50+ entrepreneurs to stay busy and keep earning income while being able to be flexible in their workday schedule. It's clear to see that the trend is for a graying of the home business entrepreneur. That's a good thing, because I can tell you first hand finding a good job later in life is not fun.

It's a whole new world out there, isn't it? That's further evidenced by this factoid on the SBA 50+ home page:

FACT: According to the Kauffman Foundation, Americans aged 55 to 64 form small businesses at the highest rate of any age group -- 28% higher than the adult average.

I have a sneaky suspicion that the 64 will soon be closer to 70.

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