Boomers are Growing Segment of Aspiring Entrepreneurs

SBA and AARP work together to help aspiring entrepreneurs. -TVH 11 News, Little Rock AR

Watch video: SBA and AARP work together to help aspiring entrepreneurs. -TVH 11 News, Little Rock

When you hear “small business start-up,” many people think of 30-something techies leaving bigger companies to go out on their own. Would it surprise you to learn that about one fourth of aspiring small business owners are in the 40 – 60 age bracket?

“Of 76 million people above 50, about half have an interest in entrepreneurship,” noted Jean Setzfand, AARP’s vice president of financial security, in a USA TODAY article on encore careers.

That high level of interest is one reason AARP and the U.S. Small Business Administration have teamed up to provide resources and information for aspiring small business owners age 50+. Want to scratch your entrepreneurial itch?

  • Online resources. Visit and for help on everything from financing to writing a business plan.
  • Encore Entrepreneur Mentor Month offerings. More than 100 mentoring events around the country were held in April, like the one in Little Rock mentioned in this THV 11 News clip. The goal: to help people connect with local mentors who can offer advice to help them start a small business.
  • Free webcasts. Watch a replay of webinars on starting or growing your small business; learn more about the hour-long sessions here. [Scroll down and look under ‘Archived.’ Select Watch, then fill out the required fields and a link will be emailed to you so you can view the webcast.]


Need some inspiration? Check out stories like this one citing Sri Rao, who took a buyout from General Motors and launched his idea to for a monitoring device called SenseAide that reminds patients to take their meds-and tells caregivers if they don’t.  A crafty mother-daughter team turned a hobby into a thriving online-wreath business via And two grandmothers from Yelm, WA, scored a $250,000 investment from Mark Cuban and Barbara Corcoran via ABC TV’s Shark Tank for their Ice Chips candy company.

The bottom line: It’s never too late to become an entrepreneur.


Also of Interest


See the AARP home page for deals, savings tips, trivia and more