September 10, 2005
Boomer Start-Ups are Booming
While other grouse about the Boomers' drain on Social Security, another trend is emerging. According to a report in theMatureMarket.com, people over 40 accounted for 86.6% of start-up businesses in the second quarter of 2005. The article is based on a survey done by global outplacement firm Challenger, Gray & Christmas, Inc.The survey also refers to government data showing that those 55 to 64 and older represent one of the fastest growing groups of self-employed workers.
While we know many of these entrepreneurs are those who were downsized out of 'real' jobs or who saw retirement plans reduced to rubble, Boomer initiative and money, yet again, will be a boon to the economy in terms of job creation and decreased tax burden.
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