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Starting your new business at the age of 60

Business people having meeting in cafe

There’s a common perception that we are less likely to take risks as we get older. Yet, research has found that baby-boomers are the fastest growing entrepreneurship cohort anywhere in the world, with the trend likely to increase as the population ages.

Professor Maritz says evidence shows that mature-aged entrepreneurs are more capable of starting a business than their younger counterparts.

Interestingly, while younger entrepreneurs work an average of 23 hours a week, earning about $115,000 a year; their senior counterparts work only 18.5 hours a week, making about $264,000 a year.   Grey entrepreneurs are also getting into what Professor Maritz calls “hybrid entrepreneurship”. 

Now, hybrid entrepreneurship is when people are employed in full-time employment and they do entrepreneurial activities on the side. They get involved in passion project. It’s not within the same domain as their full time employment. 

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