When Are You Too Old To Start Your Online Business? tvdmexonline.com /start-your-online-business/ TVD
Is an online business a feasible alternative for you as a baby boomer? Let’s dive right into the facts about baby boomers, online business, and entrepreneurship in general. The Kaufmann Index (U.S. only) indicates that 1996 14.8% of new entrepreneurs were older than 55 years. For 2015 the figure for the same age range is 24.3%. There are various reasons why boomers view the entrepreneurship as an interesting alternative: 1. Experienced “enough” – the old traditional career ladder was to get a good education, search for a job and climb the ladder as the opportunities appear. With the age and the new way of thinking, many boomers come to the conclusion that their knowledge and experience could pay off much better if creating their own business. The business online has attracted many boomers searching for the right challenge. 2. Change in the labor market – According to a recently released report from the World Economic Forum; globally it’s calculated that more than 5 million jobs will disappear over the period 2015-2020. Automation of literally everything trigger baby boomers to search for new opportunities as independent entrepreneurs 3. No sufficient pension funds – when the date of retirement comes closer a lot of people notice that the living on the pension funds will imply a dramatic change of lifestyle. In many cases, the income as retiree will decrease dramatically 4. The need of business activity – a lot of boomers just can´t afford a “calm” life after a labor life of high intensity. Playing with the grandkids and working on the golf swing the whole day long, some retired people just can´t stand it. A part-time business activity from home with all the involved flexibility is a perfect fit for those boomers.
An Online Business Covers All Types Of Needs It’s true that still a lot of people retire completely from work at the age of 65. However, according to the publication Today, 2012 18.5% of individuals older than 65 still are working actively. That´s up by nearly 8% from 1985, to just get some kind of reference. Many studies show that baby boomers are more fit to start their own business than the younger generations. The main arguments are: Mature and experienced Extensive network of people Usually financially solid to afford investments You may have noticed that the world is changing rapidly, but the millennials might not be leading the pack as some might imagine. Some decades ago it was true that you needed certain technical skills to be able to do any business where
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