Champaign, Ill - Startups aren’t reserved for millennials—those born from the early 1980s to the early 2000s. In fact, they’re the segment with the biggest decline in entrepreneurship.
Examples of older entrepreneurs:
Reid Huffman of LinkedIn
Leo Goodwin of Geico
Ray Krock of McDonald’s
Today, experienced entrepreneurs have the highest share of opportunities for entrepreneurship which can come with certain advantages:
1. With age comes wisdom—and experience. Experienced entrepreneurs benefit from greater insight of the market and the audience—increasing their chances of success.
2. Investment in their dream. Unlike experienced entrepreneurs, who recognize the importance of contributing their own savings, young people usually don’t have the capital to commit to their startup.
3. Network of professionals. As experienced professionals in the industry, older entrepreneurs have established contacts—which can take years or decades to create.
Additional facts and stats:
Youth isn’t always the secret to success for startups. If you need more motivation, here are interesting statistics about experienced entrepreneurs from a study by the Kauffman Foundation:
Businesses started by those aged 55-64 accounted for more than one-quarter of all new businesses.
Americans in the 55-64 age group start new businesses at a higher rate than those in their 20s and 30s.
How does Busey support small business owners and entrepreneurs?
Big business or mom-and-pop, Busey will ensure your needs are met through a variety of solutions tailored to your needs.
Checking services designed to help you maximize value and minimize cost.
Cash management solutions designed specifically for your business through automated solutions.
Card services to give you and your business the flexibility you need to be efficient and effective.
Busey’s participation in a wide variety of specialized loan programs allows us to tailor commercial lending packages to your unique situation.
USDA Business and Industry Guaranteed Loan
Working Capital Loans
Commercial Real Estate Loans
No matter your age—or your financial needs—Busey promises the resources to help you succeed.
Contact us today at 1.800.67 l Busey or visit one of our many convenient locations to make your business dreams a reality.
Read The Pillar to explore this topic and others that matter most to you and your family.
Request your copy today or read it online at busey.com.