A growing number of baby boomers told Yahoo! they would never be too old to launch a business. 66% of US adults said that they have considered starting their own businesses (versus 72% in 2004). When asked, “At what age do you think it would be too late to start you own business?,” 70% of respondents age 45-54 and 72% of those age 55 and above chose the response, “I will never be too old to start my own business.” That’s a substantial increase compared to 2005 survey, when 54% of those age 45-54 chose the “never too old” response, and 58% of those age 55 and above chose the same response. Across all age groups, respondents choosing “never too old” increased to 60% in 2006, versus 47% in the 2005 survey.
55% of respondents chose “own my own business” as the kind of work they would prefer to do late in life. Other choices included: 42% volunteer work/public service; 29% consulting; 20% teaching, and less than 15% for running for political office, retail/customer service, corporate officer, and sales. 37% of those who said they had thought about launching their own businesses but haven’t yet planned to do so within one to five years. 75% of US adults who go online said that the Internet has made it easier to start a small business. 92% of US adults who go online said it was important for a new small business to have an Internet presence.