In business, age is an advantage. In fact, there are several advantages to running a business in later life. Startups amongst middle-aged people are on the rise and it’s easy to see why…
As part of their recent study exploring entrepreneurship in America, IONOS asked 500 participants about their thoughts on startups and running a business. There was an obvious divide in opinions amongst the younger and older participants, but they agreed on one thing: the older you are, the more likely your business will be successful.
Age = wisdom
The older you are, the more life experience you have. Entrepreneurs who have years on their side tend to have better knowledge and understanding of what works best.
Older entrepreneurs also tend to have better networking opportunities than their younger peers, and more money saved to fund business ideas.
Health benefits
Who would have thought there were health benefits to running a business?! Being an entrepreneur has advantages for both your physical and mental health.
It turns out that entrepreneurship increases quality of life. A study from Kautonen et al. 2017 found that this is because self-employment creates more opportunities for self-realization and autonomy. The same study found that running a business is linked to healthy aging.
New insight into entrepreneurship in America: A business survey
Ageism is just one of the societal shifts we have been experiencing lately. Being in your mid to later years is an advantage when starting a business. The participants of the recent IONOS study agreed that the older you are, the more benefits you have and the more likely your business will be a success.
The study also explored:
- Job satisfaction among Americans
- Why Americans sometimes struggle to start a business
- The support needed to go self-employed
- Why founding can make you happy
- The role of sustainability when starting up
To discover more about entrepreneurship in America, download the IONOS ebook for free.
