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Baby Boomer Entrepreneurs | Video

Video Transcription

David Nilssen:

Baby boomers were born between 1946 and 1964, meaning all those ones today are about 70 or so. And they face an interesting dilemma because the economic challenges that the U.S. has faced in the last decade coupled with the fact that we’re living longer, boomers are not quite ready to retire and for that reason many are looking at small business or franchising as an alternative. In fact if you look at the businesses that have been started since 2012, 25% of them nationally and 60% of those that we’ve helped to find financing have been led by boomers. And it’s not a big surprise. The reality is they’ve spent decades in corporate America and the accumulated knowledge in job skills that other entrepreneurs have not quite yet. So for that reason they have a competitive advantage. They’ve also made mistakes they’ve been able to learn from. And today can step outside of corporate America, be their own boss and pursue of business that they’re passionate about. The media celebrates young entrepreneurs that start highflying businesses. But my experience is that baby boomers are more successful as operators so we expect to see the trend continue. And we welcome them bringing their unique skills.

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