There’s no age for entrepreneurship. It is also time for old entrepreneurs to realize their dreams; they have the desire and the experience to do so.
Because of these paradoxes of the human condition, in the entrepreneurial ecosystem there is often talk of open-mindedness and flexibility, but at the same time, the figure of a young person with a high capacity to take risks is often stereotyped. However, the entrepreneurial spirit is growing worldwide among people over 50.
Various studies, such as that of the Ewing Marion Kauffman Foundation, show that people between the ages of 45 and 54 are the most eager to start their own business. Another study, conducted by Age UK, reveals that more than 70% of businesses started by people aged 50 survive after the first five years, while only 28% created by young people survive.
Contrary to the myths of the ecosystem, the post 50’s have a weight differential against the younger ones: their experience. The youth may face endless days and nights in candles, working but the post 50 have more knowledge of the market, experience in administration and the management of professional networks.
One point that usually plays against many over 50 is their lack of self-esteem. There is an overabundance of “I can’t do it anymore”, “I missed the boat” and similar statements, but those who circumvent these paradigms find an ocean of opportunity and a lot of life ahead of them.
Against the senior entrepreneurs we can cite as well their small permeability to financial uncertainty and low capacity to withstand the enormous amount of daily work hours involved in launching a business.
The best known cases are the classic cases of Colonel Harland David Sanders (KFC), Ariana Huffington (The Hufftington Post) or John Pemberton (Coca Cola) , for example, but there are thousands and thousands of companies created by oldtrepreneurs who have come out ahead.
After all, entrepreneurship is not an age issue but an attitudinal one. It is the internal fuel that moves people to learn from mistakes and keep trying until a dream comes true.