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.