Inc.: Seniors Starting Most Businesses

By Keaton Gray

An increasing amount of older Americans are staring their own businesses, reveals a recent survey by the Bureau of Labor Statistics, which found that the largest group of newly self-employed individuals are those age 65 and up.

Between November of 2007 and May of 2009, the percentage of Americans age 65 or older who are self-employed rose from 16 percent to 18 percent. Following at a distant second were those age 16 to19, growing from 1 percent to 2 percent.

Although the oldest segment of the population has long been the most likely to be self-employed, some might find it surprising that it is also the fastest growing segment of entrepreneurs. (more)