Boomers in Business

According to the Small Business Administration, entrepreneurship rates are rising faster among Americans 45 to 60 than amonth those 20 to 30. The SBA’s National Small Business Week in June, a weeklong, cross-country tour with stops in Seattle, St. Louis, Pittsburgh and Washington D.C. to honor small businesses, highlighted the partnership between the SBA and the AARP to support older entrepreneurs. The AARP reports that one in four people between ages 47 and 70 intend to start a business within the next 5–10 years, with 100,000 encore entrepreneurs entering in the next year.

Of the AARP’s 37 million members, 5 million to 10 million are interested in starting a small business, says AARP President Robert Romasco.

“Encore entrepreneurs,” as AARP calls them, are bringing to the table what their spring-chicken counterparts can’t: decades of work experience, real-world understanding and the seasoned desire to start businesses.

 

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Teneshia Jackson Warner is an award-winning multicultural marketing expert, purpose-driven entrepreneur and author. She is the founder, CEO and Chief Creative Officer of EGAMI Group, a leading multicultural marketing and communications firm in Manhattan with clients such as Procter & Gamble, Target, Verizon Wireless, My Black is Beautiful, U.S. Army, Hennessy, Major League Baseball and Toyota.

In 2013, Teneshia founded The Dream Project Symposium, an annual empowerment conference that helps thousands of entrepreneurs, creatives and career Dreamers plan and achieve their goals. Based on concepts from The Dream Project, Teneshia’s new book, The Big Stretch: 90 Days to Expand Your Dreams, Crush Your Goals, and Create Your Own Success (McGraw-Hill Education, November 22, 2019), is a fully customizable self-evaluation and empowerment program for jumpstarting a new business, career or big idea.

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