This week, recognized as National Small Business Week by the Small Business Administration, spotlights the hard work and tenacity of 30M small business owners. Being a small business owner is not easy by any measure but these individuals are risk takers, community engagers, and innovators that often single-handedly work to realize their dream and vision, fueled by a desire to create an opportunity for themselves and others.
AARP believes entrepreneurship is a path to financial security. One third of new businesses are started by people 50 and older, making up 25% of those who either have a storefront or an online business. While that percentage may seem small now, it’s expected to grow as older adults find their passion, motivation and confidence to launch a business. Many of the businesses owned by this cohort are in the areas of general services, technical & consulting services, construction, real estate and health care & social services.
Likewise, minority-owned small businesses are on the rise, with women of color being the fastest growing segment of entrepreneurs. Thanks to Etsy, Thumbtack, TaskRabbit and other online platforms, many are realizing entrepreneurship by using their skills, talents and interest to launch businesses that equally add value to the small business landscape.
We applaud older entrepreneurs for making a difference. Small businesses have and will continue to serve as engines of change, sparking community and economic development. Organizations such as SBA, the National Urban League’s Entrepreneurship Centers, various chambers of business and other associations are working on behalf of small business to advocate and offer support for the creation and growth of entrepreneurship.
AARP offers valuable, free, tools and resources at www.aarp.org/50plusentrepreneurship and www.aarp.org/startabusiness that give entrepreneurs key steps on starting a business, how to write a business plan, how to market your business, information about financing your business and how to deliver a business pitch. But, more importantly, it is our goal to give aspiring entrepreneurs the hope and encouragement that small business ownership can turn from a dream into reality.
AARP helps people turn their goals and dreams into real possibilities, strengthens communities and fights for and equips Americans 50 and older to live their best lives. Discover all the ways AARP can help you, your family and your community at AARP.
Also of Interest
Be Your Own Boss, Be Happy
From Passion to Profit
Is Starting a Business Right For You?