National Public Radio's All Things Considered looked at the growing number of older adults turning to entrepreneurship this week.
The story cites Kauffman Foundation research that shows that business creation by older Americans grew more than 60 percent between 1996 and 2012.
Dane Stangler, vice president of Research and Policy at the Kauffman Foundation, says the trend is due, in part to the aging boomer generation, and advances in technology that make it easier to start a business have increased the number of older entrepreneurs.
Read an excerpt of the story below.
Never Too Late: More Older Adults Sold On Entrepreneurship
Business creation by older Americans grew more than 60 percent between 1996 and 2012, according to the Ewing Marion Kauffman Foundation.
Dane Stangler, the foundation's vice president of research and policy, says that's partly because of the aging of the huge boomer generation.
He says technology has also made it easier to start a business, including going online to incorporate the business, among other things.
"It's a lot easier to have mobile payments done," Stangler says. "And it's increased business creation for this demographic."
Older entrepreneurs have some advantages that don't have much to do with technology, says Edward Rogoff, chairman of the department of management at Baruch College.
They have more money and a network of contacts they can turn into orders or customers. "They bring a lot to the table," Rogoff says.
Listen to the full story on NPR.org