Entrepreneurialism: Not just twenty-somethings and not just men

If you are asked to picture an entrepreneur, a tech-savvy male in his late twenties might be the image that comes to mind. While there is no shortage of high-tech start-ups by young male engineers, this is hardly the only type of entrepreneur. In fact, according to a story in the BBC, an increasing number of over-50s are starting their own businesses and many of these are women.

Research commissioned by Yellow Pages suggests that one in six new businesses started in the UK are run by over-50s and there is no reason to believe a similar trend doesn't exist in the U.S.

The BBC article noted that reasons that baby boomers start their own businesses include being laid off, encountering age discrimination or discovering they cannot live on their retirement income.

According to a UK consulting company that advises mature entrepreneurs, you have a one in 10 chance of finding a new position if you lose your job after 50.

If you are considering starting a business later in life, this BusinessWeek article is a good place to start. Another good resource is Marci Alboher's book on slash careers. While not aimed specifically at entrepreneurs, its "slash career" approach works well for people who want to start businesses but can't yet afford to walk away from the income of the careers that they currently have.

Sources: BBC and Dick Stroud's 50-Plus Marketing