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Seniors Still Rule The Entrepreneurial Roost

Further data has been released which indicates that senior citizens are actually more entrepreneurially-minded than young people.

Scott Shane of Businessweek has crunched the numbers and analyzed the figures. This research builds on work for early in 2009 performed by Dane Stangler, for the Ewing Marion Kauffman Foundation, which states: "In every single year from 1996 to 2007, Americans between the ages of 55 and 64 had a higher rate of entrepreneurial activity than those aged 20 to 34."

Trying to gain a sense of the present situation, Shane cites figures from November's Bureau of Labour Statistics on corporated and incorporated self-employment. There are some staggering statistics: 75-year-old's and over have the highest rate of unincorporated self-employment, a rate four times greater than 25-34 year-old's.

As for incorporated self-employment, which may be a better barometer of real entrepreneurship, entrepreneurship rates are still four times higher than 25-29 year olds, and rising.

These figures do not explain why seniors are so drawn to self-employment, but it is even more proof for franchisors, especially of the home-based variety, that the senior sector is a group that must be seriously courted. This is a group of people with income and capital who are a far safer demographic to bank on than, say, recent college graduates.

The future, it seems, may lie with seniors.

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