Ask SCORE
Presented by Fox Valley Chapter 289                                              
Issue: 16                         www.ScoreFoxValley.org January 2009 
SCORE Counselor listening 
Greetings!
 
You have to be young to be an entrepreneur, right?  Wrong!  In fact, successful entrepreneurs usually bring a few years of experience to their ventures. If you are one of those who are rethinking your career or retirement plans, here are some reassuring words...
 

Start-Up 

Entrepreneurs Know No Age Limits 

 
As America's 77 million baby boomers begin contemplating retirement, many are finding that slowing down is the last thing they want to do.  Indeed, they're seeking outlets for their experience, energy, and drive that will be personally and financially rewarding, while also providing the flexibility and direction they might not have enjoyed during their previous careers.
 
Sound a lot like owning a small business?  It should. 
 
Statistics show that of the nation's 10.9 million self-employed workers, the largest category, 25 percent, is boomers aged 45 to 54.  In 2006, the number of self-employed persons aged 65 and older totaled 781,000 -- a 19 percent increase in just six years.
 
As with entrepreneurship at any other age, a boomer's entrepreneurial direction has many influences, such as interests, knowledge, location, financial resources, and personality.  Some may relish the challenge of building a new business, even to the point of working as many hours as they did before retiring.  Others may prefer pursuing an enterprise with more limited hours, allowing them to make the most of that long-awaited leisure time.
 
Fortunately, there's a growing range of resources designed to help boomers pursue second careers as entrepreneurs.  For example, the self-employed section of AARP's Web site, helps those approaching retirement weigh such second career opportunities as consulting and franchise ownership.  Mature Resources, an online magazine that covers a wide range of issues related to aging, contains a business section with articles related to over-50 entrepreneurs, as well as a business directory.
 
Marketing consultant Andrea J. Stenberg has created a baby boomer entrepreneur blog which provides small business marketing strategies and motivation aimed at aspiring 40-plus entrepreneurs.
 
Another multifaceted information resource is All Business, an online service that helps address real-world business questions and presents practical solutions.  All Business provides articles and directories for aspiring small business owners, as well as a section dedicated to analyzing boomer marketing and demographic trends.   Similarly, the Learning Center page of My New Venture has a section specifically for retirement-bound boomers.
 
For women eyeing a post-retirement career in small business, the TIP$, or Turning Ideas into Profits, Mid-Life Women's Business Community offers free information, tools, support and networking opportunities.  
 
Entrepreneurs of any age can profit from experience, which is why they should contact SCORE "Counselors to America's Small Business."
 
The Fox Valley SCORE Chapter offers free, confidential counseling to small businesses, including start­ups. Affiliated with the U.S. Small Business Administration, SCORE has counselors available in nine locations in the counties and suburbs west of Chicago.
 
For the location closest to you go to our website.

 

  Copyright (c) SCORE Association
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We look forward to helping you start your next life as an entrepreneur. 
 
Sincerely,
 
The Counselors at SCORE
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Grants prodided by the Kane County Riverboat Fund, the Alfred Bersted Foundation, and the Community Foundation of the Fox River Valley.
 
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        FREE Self-Employment Workshops Announced 

SCORE counselors will be conducting FREE Self-Employment Workshops in DeKalb on the evening of Thursday, January 15, and in Lombard on the evening of Tuesday, January 27.
 
Plus, check out the full schedule of short, affordable workshops being held during January at the College of DuPage in Lisle and Waubonsee Community College in Aurora. Choice of topics. Choice of locations.