Think entrepreneur and you think of young billionaire Mark Zuckerberg or maybe Andrew Mason, who took Groupon public with much fanfare. But according to a new study, the age of these entrepreneurs bucks an overall trend.

In fact, over the past decade, the highest rate of entrepreneurial activity belongs to the 55-to-64 age group, according to a Kauffman Foundation study. The age bracket that includes 20- to 34-year-olds actually has the lowest rate of such activity, reports USA Today.

Kauffman’s latest study shows that about 23 percent of new entrepreneurs in the year 2010 were in the 55-to-64 age group, up from 15 percent in 1996. Experts suggest that one reason for this is the recession, because people who lost their jobs took the opportunity to start their own businesses.

Others just decided to start businesses because the time was right.

Among the entrepreneurs who have spoken to recently who started their own companies later in life is David Horn, a retired banker who started the South Florida-based daily deal site CoupTessa, which caters to women. He calls it a “multimillion-dollar business that was successful out of the box,” and credits his financial background, as well as decades as a husband and father for his aptitude for figuring out what women want.

Ken Austin, who launched the Avion tequila brand that ultimately got distribution in 47 states through a deal with Pernod Ricard, found success with some help from a friend in Hollywood with whom he had a long personal and professional relationship with.

One thing that companies founded by these later-to-the-game entrepreneurs have going for them: experience and connections.

This month, Kauffman will begin a series of meetings around the country to promote entrepreneurship among baby boomers, a group that includes those born between 1946 and 1964.

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Small business startups took off in 2010 as the effects of job losses and high unemployment moved more people into entrepreneurship, said a report issued last week from the Kauffman Foundation. Nevada, a state with high unemployment, as well as Georgia led the pack with 510 adults per 100,000 residents starting up brand new businesses. Retiring senior executives fueled much of the boom in Nevada. Meanwhile, California, Colorado and Louisiana added 565,000 new businesses a month in 2010. Personal Business Advisors, LLC is working to continue this strong trend in 2011 by helping senior executives currently in jobs or collecting unemployment benefits start their own business opportunities and put more Americans to work.

Small businesses across the nation are the key creators of jobs and most of the businesses started last year were sole proprietorships with only one new job. But there were reasons for optimism for the high unemployment rate. According to the Automated Data Processing survey of job creation, small businesses with less than 50 people actually added 100,000 net new jobs in December, January and February. So there are hopes that creating new businesses will create new jobs and lower the unemployment rate.

Personal Business Advisors, LLC is helping to spearhead the efforts to create more small businesses in our nation. They are partnering with senior business executives to leverage their extensive business knowledge and expertise to create new jobs by creating new businesses. They match entrepreneurs with alternative business opportunities such as creating a new business, buying an existing business, operating a distributorship or becoming part of an established franchise. Many of these future business owners can take advantage of hobbies and passions to develop a new business opportunity that not only provides jobs for others and cash flow for the owner, but a strong sense of lifestyle satisfaction.

Surveys show that Baby Boomers have always had a desire to own their own business and unemployment or unsatisfying jobs are accelerating the move towards entrepreneurship. Firms such as Personal Business Advisors, LLC can partner together with senior executives to assist with the needs of the transition – providing necessary consultation and advise to make the move a success.

By: Admin – Personal Business Advisors, LLC.

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One out of four Baby Boomers between the age of 51 and 61 and one out of five “Matures” over the age of 65 don’t have any retirement savings put away, according to a recent survey from Harris Interactive. With little income to rely on for retirement, Baby Boomers and Matures are going to have to find ways to overcome the high unemployment rate and create income from a job. According to Personal Business Advisors, the true solution is for these seasoned senior level professionals to skip finding a job and instead put their extensive business skills to use to create their own stable business and put America back to work one business at a time.

Creating a business is essential, because the fact is most Baby Boomers are struggling to find jobs to help supplement their lack of savings. According to the Congressional Research Service, one out of eight unemployed adults over the age of 65 (or more than 12%) have faced 99 weeks or more of unemployment. For those aged 55 or better, 11.51% have spent the last two years looking for jobs, more than the 6% rate among unemployed workers under the age of 35. This is particularly true among Baby Boomers of color. The 99 week number is significant because that is the point that unemployment benefits expire.

Many Baby Boomers are simply struggling to make ends meet with dwindling savings, the expiration of unemployment benefits and the lack of jobs. Something different has to be done.

Personal Business Advisors is the leading nationwide firm that works to put senior executives and c-level executives back to work by creating their own business. With a large number of business opportunities, including licensing, starting a business, buying a business and even franchising, Personal Business Advisors can help Baby Boomers avoid unemployment and unleash their passion not with a job, but their own business.

By creating their own business, Baby Boomers can keep themselves engaged in their communities and hopefully create more jobs and lower the unemployment rate where they live and call home. Instead of wasting their knowledge and experience in part time work, Personal Business Advisors helps them put America first and create more jobs at home using their professional skills.

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Gallup, a leading national polling firm, announced last week that its unemployment survey indicated that the unemployment rate, not seasonally adjusted, increased in mid-February to 10%, an increase from the 9.8% rate at the end of January. That survey doesn’t bode well for job creation in the weeks since the Federal Government announced that its official unemployment survey indicated that unemployment was down to 9% in the nation during January.

Even worse, the underemployment rate, a blend of people looking for full time work and others working part time but seeking full time work, significantly jumped in Mid-February to 19.6% as full time jobs were increasingly hard to find.

According to Personal Business Advisors, a firm helping C-level senior executives and Baby Boomers create business opportunities, many people may have returned to seeking part-time work because savings have run out or retirement funds are running low. Instead of looking for part time work to supplement their income, Personal Business Advisors is recommending skilled Baby Boomers and unemployed C-level business officers instead create business opportunities for their future. According to experts, Boomers are now creating new businesses at the rate of 10,000 per month – a full 16% more than any other generational group.

Personal Business Advisors enables these professionals to create their own destiny by franchising, buying a business, starting a distributorship, licensing a product or working as a consultant to help others create their business.

The surge in underemployment is troubling and could indicate a further weakness in the jobless recovery. This indicates that even though economic indicators, such as consumer confidence, have increased, businesses have not felt comfortable enough to add new jobs to lower the unemployment rate. The Federal Reserve recently asked many of the banks that were stress tested during the height of the financial crisis to test their reserves against an 11% unemployment rate – something that many experts believe could become a reality.

In this new economy, the best way to create a job is to create a business opportunity. Personal Business Advisors believes that it is all about Rebuilding America, One Business at a Time. This strategy should help power our nation out of the jobless recovery and unemployment issues now plaguing the nation and enable Baby Boomers and C-level executives to leverage their knowledge to power our nation ahead.

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After enjoying the rewards of managing a very successful independent consulting practice, I was confronted with a new challenge of a decline in demand for my services in mid-2010 for the first time in over five years. Over a period of six months I explored dozens of new business and career opportunities from expanding my consulting services to exploring more traditional job opportunities. My experience in the second half of 2010 introduced me to the unfortunate reality that there were very few to no traditional job opportunities for seasoned executives, including professionals like myself with a strong background in traditionally recession-proof high tech industries. I also learned that it was becoming increasingly difficult to engage new clients for my consulting and business coaching services. During this period, my perspective on the economic situation and business climate shifted to not anticipate dramatic changes for the indefinite future – especially for seasoned executives in their 50’s and older.

I received a very timely inquiry from a Personal Business Advisors Senior Advisor during the time that I was exploring new career opportunities. My initial inclination was that Personal Business Advisors was yet one more executive recruiter firm randomly fishing for a potential match of an executive resume with a job opening that had no relevance with my particular experience or career interests. Upon receiving several additional intriguing inquiries from the PBA Advisor, I decided that it would be worth ten minutes of my time to explore if Personal Business Advisors may have some relevant opportunities for me.

After a couple of brief calls, I was fully engaged in a thorough investigation, evaluation, and due diligence on several very exciting business opportunities that passed my initial screening criteria. It was at this point that I recognized that collaborating with my Personal Business Advisors Senior Advisor would be my most productive option to explore potentially exciting and rewarding business options in 2011 and beyond. My own due diligence included reviewing numerous documents and websites, participating in dozens of telephone interviews, and rating and ranking each opportunity based on the 14 key evaluation criteria that I had established, including:

  • Opportunity to provide me with greater control over my own professional destiny
  • Opportunity that would permit me to continue to work in a virtual versus traditional brick-and-mortar office environment, thus avoiding unproductive commute time and unnecessary distractions in an office
  • Opportunity that would permit me to establish my own priorities for my work / life balance
  • Opportunity where I could potentially receive tremendous satisfaction from making a positive difference in other people’s lives

After several months of exploring my leading career opportunities, I decided to attend the no cost 3-day training session offered by Personal Business Advisors to explore their business model real-time with the company founders. The training session included very comprehensive training sessions on their proven business model and I was able to witness the process in action first-hand with Personal Business Advisors executive candidates during my training. More importantly to me, I was able to get detailed answers to dozens of questions I had regarding the Personal Business Advisors business model, core business processes, and the results the have achieved since 2002. My Q&A sessions also included receiving facts relative to negative information posted on the Internet about Personal Business Advisors that I discovered during my personal due diligence.

At the end of my training session, I eagerly made the decision to acquire a Master Office license with Personal Business Advisors. I was not only satisfied with the quality of the training I received and the candid responses to my questions – I could not wait to return to my office as a new Senior Advisor and begin contacting candidates on the next business day.

In my short tenure as a Personal Business Advisors Senior Advisor, I have come to discover that the executives that I am speaking with every day have similar backgrounds and experiences with my own, including:

  • Experience working with successful global 2000 corporations
  • Experience launching and supporting successful (and often times unsuccessful with an invaluable set of lessons learned) innovative start-up firms
  • Experience with the stress of laying off tens or hundreds of capable and competent professionals
  • Experience with the trauma of personally being laid off from companies
  • Experience of felling stuck in position where your contributions are not valued and/or where your skills are not being fully utilized
  • Frustration of conducting a job search and experiencing the “black hole” where you receive no feedback on why you are not being contacted and considered for openings
  • Lack of knowledge and insight into non-corporate, non-traditional business opportunities

I am extremely proud, confident, and excited about my most recent career decision with Personal Business Advisors and I am looking forward to introducing and empowering executives and senior professionals with new business opportunities for many years ahead.

Jack Spain

Senior Advisor

Personal Business Advisors

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