Over the past decade, boomers have outpaced every other age group as entrepreneurs. At this rate, experts predict the cohort could drive the economy back to health.
“The fact that the largest age group of our population is also the most entrepreneurial bodes well for the United States’ economic future,” said Robert E. Litan, vice president of Research and Policy at the Kauffman Foundation, which has recently released a new study, “The Coming Entrepreneurship Boom.”
“Contrary to popularly held assumptions, it turns out that over the past decade or so, the highest rate of entrepreneurial activity belongs to the 55-64 age group,” says a statement from the Foundation. “The 20-34 age bracket, meanwhile, which is usually identified with swashbuckling and risk-taking youth (think Facebook and Google), has the lowest. Perhaps most surprising, this disparity occurred in the 11 years around the dot-com boom–when the young entrepreneurial upstart became a cultural icon.”