A few weeks ago I confronted that big MYTH about 90% of small businesses failing within 2 years.
The truth is half of all new small businesses survive 5 years or more.
These facts came straight from the SBA Frequently Asked Questions PDF (available here).
A higher percentage of small businesses were still in business after 5 years than the percentage of people who held a job for 5 years or more.
But that’s not all I discovered…
Try this one on for size!
We always think of entrepreneurs as young go-getters, but the SBA reports that self-employment for those 25 and under decreased by 19% from 2005 to 2010.
Don’t look for entrepreneurs in the Universities.
Only 2% of those 25 and under were self-employed in 2010.
But 23% of those 65 and over were self-employed!
That certainly doesn’t match the perception we get from movies and TV about entrepreneurs.
It also doesn’t match up to the common thought of people slowly slinking away into retirement.
They’re getting fired up instead of retired.
With the growth of the Internet and home based businesses, many are likely working part-time.
Some likely need to supplement their income and keep working.
Others may simply love what they do.
Why would you ever want to retire when you can choose your own hours and do what you love?
That’s how I feel about the Internet.
I’ve sold a business before, and I’m sure I will again at some time.
Remember that 50% of small businesses are still in business in 5 years?
Did you consider that many entrepreneurs may close one business and start another?
I may change my focus or market. I may increase or decrease my daily activities.
But why would I ever quit being an entrepreneur?
That’s likely another reason the percentages get so high at 65 and over.
You can start a business at any age.
You’ll never want to go back to a JOB again.
Those who start businesses at 25 keep going. Those who start at 35 keep going. The number keep growing as people reach 65…and they’re still out there, doing, growing, and building.
By 65, 23% of the US has discovered our “little secret.”
Building something you own is better.
There are a lot of options out there. Choose something that fits you.
My choice is the Internet.
I’d recommend checking out http://www.internetlifestylesystem.com where you can discover step-by-step how to get your own high profit information business started online.
