There’s something special about the later years in life, including the freedom to do different things like travel, explore, and even start a business.
Those individuals who endeavor to create their own business at this stage in life are often referred to as “encore entrepreneurs”. Individuals who start business after 50 accounted for nearly one-quarter of new businesses started last year. People in this age range actually start businesses at a higher rate than those in their 20s. If you consider full-time independent workers, baby boomers and seniors combined are actually the largest segment at 37 percent according to the MBO independent workforce study.