Are you considering becoming an encore entrepreneur? Some powerful partners have your back.
The U.S. Small Business Administration (SBA) and AARP (American Association of Retired Persons) have formed an alliance to provide counseling and training to entrepreneurs over the age of 50 who want to start or grow a small business. Retirement is very different from what it looked like for past generations. According to a USA Today/Gallup poll, 63% of American adults plan to work in retirement; two-thirds say enjoyment of work is the key reason. Americans are living long, and working longer – and an increasing (record!) number of them are choosing to start their own businesses.
The SBA and AARP hope to train 100,000 encore entrepreneurs — men and women over 50 who are starting or running a small business.
The SBA has set up a dedicated web page for Americans over the age of 50 featuring: an online self-assessment tool that will help potential small business owners understand their readiness for starting a business as well as information to help with business planning, shaping a winning business idea, professional counseling, financial services and information to find local resources in your area.
There are online courses that you can take for free and resources to access. Looking for more personal interaction? Encore Business Advisors works with new and aspiring entrepreneurs to help them get a fast, strong start.
My book, Retiring Solo, discusses the advantages of entrepreneurship in retirement in an era when many new options for starting and running a business exist.
The bottom line? It’s quite possible that your sixties could be the very best time to start a new business. With many of us expected to live well into our eighties and beyond, owning your own business could provide a needed financial boost. It will certainly keep you busy and engaged with the world!