Study: Boomers Fastest Growing Group of Entrepreneurs
A new Duke University study revealed that baby boomers have become entrepreneurs at a faster rate than Gen Yers over the past three years.
According to the university’s Center for Entrepreneurship and Research Commercialization, several factors are driving startups from those in the 55-to-64 age group including a loss of retirement savings and home value as well as jobs.
The study also showed that baby boomers are opting for self-employment more because some are finding it challenging to compete with younger people for jobs.
An MBO Partners survey recently revealed that those in the 50-to-64 age range are the largest group of independent contractors and 86% percent said they were satisfied or highly satisfied to work independently.