The Better Entrepreneur: Gen Y or Older Generations?

by / ⠀Startup Advice / February 27, 2012

A recent article on MSNs Business on Main highlights the fact that even though all we hear about is the young tech savy entrepreneurs of today, older generations have a higher startup rate. In the study “The Coming Entrepreneurship Boom,” the Ewing Marion Kauffman Foundation reports that from 1996 to 2007, Americans between the ages 55 and 64 had a significantly higher rate of entrepreneurial activity than those ages 20 to 34.

Different obstacles:

  • First on the list is risk. Although starting a business at any age carries an element of uncertainty, older entrepreneurs need to be particularly aware of the amount of risk they can comfortably shoulder. If nothing else, should things go south, they have less time to recover than do younger entrepreneurs.
  • Older entrepreneurs focused on starting their own businesses also need to come to terms with the absence of traditional forms of support. While younger counterparts are accustomed to doing most things on their own right from the start.
  • Technology needs in particular can be a double-edged sword. While business software and other products have made starting a business that much easier, older entrepreneurs need to be aware of their limitations.

Learn more about the differences on the full article.

This article was brought to you by MSNs Business on Main

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About The Author

Matt Wilson

Matt Wilson is Co-Founder of Under30Experiences, a travel company for young people ages 21-35. He is the original Co-founder of Under30CEO (Acquired 2016). Matt is the Host of the Live Different Podcast and has 50+ Five Star iTunes Ratings on Health, Fitness, Business and Travel. He brings a unique, uncensored approach to his interviews and writing. His work is published on Under30CEO.com, Forbes, Inc. Magazine, Huffington Post, Reuters, and many others. Matt hosts yoga and fitness retreats in his free time and buys all his food from an organic farm in the jungle of Costa Rica where he lives. He is a shareholder of the Green Bay Packers.

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