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life in rural nebraska

Boomerpreneur Boom

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Some days you gotta toot your own horn. Today would be one: the Kauffman Foundation has a great report regarding the potential for economic growth in the United States resulting from a boom in baby boomers engaged in entrepreneurship. This is something I’ve been saying for three years and encouraging communities, like our own, to ride the coming wave. From the report:

Several facts have emerged in the course of Kauffman Foundation research that indicate the United States might be on the cusp of an entrepreneurship boom—not in spite of an aging population but because of it.

In every single year from 1996 to 2007, Americans between the ages of 55 and 64 had a higher rate of entrepreneurial activity than those aged 20-34.

For the entire period, the 55-64 group averaged a rate of entrepreneurial activity roughly one-third larger than their youngest counterparts.

These trends seem likely to persist: in the Kauffman Firm Survey, a longitudinal survey of nearly 5,000 companies that began in 2004, two-thirds of firm founders are between the ages of 35 and 54.3.

Additionally, Kauffman research has revealed that the average age of the founders of technology companies in the United States is a surprisingly high 39— with twice as many over age 50 as under age 25.4

Communities like Ord and Valley County would be well served to design business transfer programs in tandem with entrepreneurship academies to assist in the transition of existing businesses along with start-up incubation.  While we all love to engage our younger generations, ignoring an entire demographic that has a proven track record, finances and a wealth of experience would be plain stupid.  As the results of our CCC survey in June proved, the majority of folks interested in eship training were adult full-time workers.

Follow us as we embark on this effort in August.  More to come on these opportunities!

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Written by Caleb

August 4, 2009 at 4:00 pm

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