As a former technocrat who became a business man I am fascinated by what facts tell us. In relation to the baby boomer generation some surveys have revealed interesting facts on their entrepreneurial aspirations.

Last weeks issue of the bulletin drew a good response particularly from Ann of healthinsurance-help.com Thank you Ann for your appreciation.

I decided to continue the theme a little longer.

For those who may not know the term, baby boomer generally refers to those born between the end of the second world war and the mid to late 1950’s. The baby boomers are thought to be the generation who ‘have it all’ and who have influenced the final years of the 20th century!

A recent study has shown that 22% of men and 14% of women over 65 are self employed compared with 7% below that age.

A further related statistic is that the number of self employed entrepreneurs in the age range 45 to 64 will have grown to 15million by the end 2006 (broadly these are the baby boomers). However, in the age range 25 to 44 there will be a decline of 4million.

An earlier survey of baby boomers showed that 80% planned to work beyond retirement age and 17% of them planned to launch new businesses.

The conclusion being that self employment by American workers tends to increase with age, the most dramatic jump coming at 65. This is a case of baby boomer influence on the statistics.

It seems that baby boomers and even those older (like me) find starting a business easier than the younger entrepreneur because they have more experience to draw on.

Interestingly, 15% of all new businesses are more likely to be started by males rather than females.

Where you might ask is all this leading us?

Well, I started my business at 50! Not a baby boomer, but broadly I fit with the surveys which qualifies me to add a little to the information.

My experience is, if you have something to offer, product or service there is everything to be gained by starting a business , baby boomer or not.

Yes there are risks and you will work very hard but in my opinion the freedom to make your own decisions affecting your life and develop as an entrepreneur plus many other compensations, make it all worthwhile.

In my case to become a business consultant was natural because of the nature of my corporate life – managing and turning companies round.

It does not suit everyone but, if you are thinking of starting say a home business there are a number of things to consider, health, energy, drive, your goals and your finances.

Many start a business with a work at home job.

Most of all do you have the backing of your spouse? That is vital. In my quieter moments I am humbled by the faith my wife showed in me!

Now back to Ann. I know a little of Ann and believe I am correct in saying she is not a baby boomer and does not fit some of the criteria I have been discussing. She is a work at home Mom like many women working from home, and which is great. If you have not yet fully decided to go it alone think carefully about taking a leaf out of Ann’s book.

If you are already on your way I hope you are doing well. Stick at it, it will be worthwhile in every sense. Opportunity is everywhere, as the 15million baby boomers seem to recognise.

In times of difficulty never lose sight of your achievements.

Best wishes,

Michael Harrison.

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