More older Americans are starting their own business

USA Today says that millions of older Americans are now becoming more interested in forming a company of their own instead of working for someone else.

The paper cited a recent report by the Ewing Marion Kauffman Foundation, which found that people between the ages of 55 and 64 were the responsible for the second biggest jump in entrepreneurial activity between 2008 and 2009. Data from other reports also shows a big jump in older Americans starting their own business when other age groups are not.

Dane Stangler, a researcher at the Kauffman Foundation, told USA Today that the jump is due to a variety of factors, including economic necessity, the rise of longevity and Baby Boomers who want to keep working.

“Americans are not only living longer but also living healthier longer, suggesting that those entrepreneurial 60-year-olds could be 2020′s entrepreneurial 70-year-olds,” he told the newspaper.

The Bureau of Labor Statistics says the number of self-employed Americans over the age of 65 grew more than 29 percent from 2008 to 2009, while the number of entrepreneurs between 35 and 54 dropped by roughly 3 percent over the same time period.ADNFCR-3052-ID-19802757-ADNFCR

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