Global outplacement firm Challenger, Gray Christmas reports the nation is on the brink of an explosion of new business start-ups.
The interesting thing is this boom, which is said will resemble the dot. com boom of the late ‘90’s, will be led by baby boomers and would-be retirees and tend to be better educated, healthier, and more tech-savvy than their 20-something predecessors.
A market survey conducted by Challenger during the 2005 second quarter shows that out of 3,000 job seekers, 13-percent started their own businesses in the second quarter, up from 9.9-percent during the same quarter last year.
Eighty-six percent of these entrepreneurs were over the age of 40. A Challenger analysis of unpublished government data also shows those 55 to 64 and older represent the fastest growing groups of self-employed workers.
Older entrepreneurs now make up 54-percent of self-employed workers, a jump from 48.5-percent in 2000.
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