{"id":5536,"date":"2016-05-12T07:25:09","date_gmt":"2016-05-12T11:25:09","guid":{"rendered":"https:\/\/kerryhannon.com\/?p=5536"},"modified":"2016-05-12T07:28:00","modified_gmt":"2016-05-12T11:28:00","slug":"small-businesses-to-start-after-50","status":"publish","type":"post","link":"https:\/\/kerryhannon.com\/?p=5536","title":{"rendered":"Small Businesses to Start After 50"},"content":{"rendered":"

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The passion that spurs someone to dream of starting a business isn\u2019t reserved for the techie Millennial in the torn jeans and hoodie. Even the person in the relaxed-fit khakis and reading glasses can feel the zeal.<\/p>\n

Research shows Baby Boomers may have a greater passion for entrepreneurship than younger generations. One report showed that, in 2014, those ages 55 to 64 had a higher rate of new entrepreneurial activity than the stereotypical risk-taking 20 to 34 age group.<\/p>\n

Even more Boomers might take the leap, but they can become intimidated \u201cby that word \u2018entrepreneurial,\u2019\u201d says Elizabeth Isele, CEO of the Global Institute of Experienced Entrepreneurship.<\/p>\n

There are many factors to consider, including how to finance a business. But perhaps the biggest challenge, Isele says, \u201cis having the confidence to do it.\u201d<\/p>\n

Match your interests with an area of opportunity<\/p>\n

What if you have the dream and the drive but can\u2019t decide what avenue to take?<\/p>\n

Experts say there are many opportunities in the current economy. Here are some growing industries and useful strategies to get you started.<\/p>\n

1. Services for seniors<\/strong><\/p>\n

An aging population has created business opportunities for jobs and businesses that \u201cride the age wave,\u201d says Kerry Hannon<\/a><\/strong>, a career expert who focuses on clients in their 40s and 50s.<\/p>\n

\u201cThese are businesses and services that are geared toward people in their 70s and 80s that can be done by people in their 50s and 60s.\u201d<\/p>\n

One example: patient advocacy services for seniors who need assistance with health care-related issues, such as tackling billing mistakes or sorting out insurance coverage. There\u2019s also a need for home-modification professionals, fitness trainers for seniors and personal finance planners.<\/p>\n

\u201cThere\u2019s a huge demand for things even as basic as bill-paying services,\u201d says Hannon<\/strong>, who also serves as a jobs expert for AARP. \u201cWe\u2019re living longer, and people really are seeking out advice on how to manage their accounts.\u201d<\/p>\n

2. Consulting<\/strong><\/p>\n

3. Bookkeeping<\/strong><\/p>\n

4. A Web-based business<\/strong><\/p>\n

5. Pick your passion<\/strong><\/p>\n

Opportunities based on a personal passion abound. Hannon,<\/strong> the AARP jobs coach, says she\u2019s worked with people who started businesses based on interests as varied as sewing, gardening and dog grooming.<\/p>\n

\u201cThere are ways to tap into your passion and what you love to start your own business at over 50.\u201d<\/p>\n

Read full article on USA Today<\/a><\/strong><\/p>\n

by Benjamin Pimentel, NerdWallet<\/p>\n

Benjamin Pimentel is a staff writer at NerdWallet, a personal finance website.<\/p>\n

Twitter: @benpimentel<\/p>\n

NerdWallet is a USA TODAY content partner providing general news, commentary and coverage from around the Web. Its content is produced independently of USA TODAY.<\/p>\n

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