More women of the baby boomer generation are leaping into the exciting role of home business entrepreneur. Because of this, we are seeing some very interesting statistics:
* The Center For Women’s Business and Research says that there are over 10 million businesses owned by women in the US that generate sales of $2.32 trillion.
* Women now account for 55-60% of new startups.
* The number of women-owned companies has doubled in the last 25 years.
* According to the Labor Department, baby boomers and older make up 54% of the self-employed.
So, why are baby boomer women taking the path of entrepreneurship and what does it take to be an entrepreneur? Let’s start with a definition:
According to Wikipedia.com, an entrepreneur is a term applied to someone’s personality, the type of person, who is willing to take upon himself or herself a new venture or enterprise and accept full responsibility for the outcome.
Yes, there are various reasons women might feel called to start their own business.. economic, or perhaps the desire to take on a new challenge. Many baby boomers have had careers and become experts in their fields over the years. The next natural step is to shed the corporate confinement and rules and step out on their own offering consulting, writing instruction manuals, offering advertising, web and graphic design services (like Moi!), doing speaking engagements, etc. They may also feel they have all the knowledge to start up their own company and can do it better than the company they’ve been employed by.
Other women feel becoming an entrepreneur helps them get past the glass ceiling they’ve been hitting their heads on. They can make more money going out on their own, which becomes an important consideration as they start looking closer at their future retirement.
Yet others want to stop working 9 to 5 and start their own business in a totally unrelated field. They feel passionate about venturing out into their interests in a courageous way. Many women, who are in 2-income households, can now afford to try starting a business while being supported by their partner.
It wasn’t so long ago that women who started their own businesses were something of an oddity. But now, more than ever, women realize they have what it takes.. attitude, experience, the tools, the skills, and the know-how to set successful goals. These business-savvy baby boomer women also know how to find resources, network, and lend sisterly support to one another, both online and off.
We don’t know right now what the self-employed trends of tomorrow will show, but it’s highly likely that baby boomer women entrepreneurs will be well-represented.