Title: The Rise of Greypreneurs: Exploring the Growing Trend Among Older Entrepreneurs
Discover the increasing prevalence of greypreneurship and the unique advantages seniors bring to the business world in this article. Learn about the factors driving the growth of greypreneurs and the role of technology in facilitating their entrepreneurial endeavors.
The Growing Impact of Greypreneurs in the Workforce:
A recent infographic by Best Masters Program and Nowsourcing highlights that by 2024, 25% of the US workforce will be aged 55 and older. It also reveals that 4 in 5 baby boomers plan to keep working rather than retire due to financial need. These statistics offer valuable insight into the challenges this demographic will face as younger individuals enter the workforce.
Advantages of Older Entrepreneurs:
In a blog by Nowsourcing’s CEO, Brian Wallace emphasizes the distinct advantages that older individuals bring when pursuing their own businesses. These advantages include strong communication skills, industry expertise, sales abilities, and reliable credit for obtaining loans. Wallace encourages older workers to seize opportunities and go out on their own if companies fail to recognize the benefits they offer.
Driving Factors Behind the Growth of Greypreneurs:
The rise of greypreneurs can be attributed to various factors, with increased life expectancy being a pivotal driver. As people live longer, seniors are redefining aging by remaining active in the workforce and exploring multiple careers. Retirement is no longer seen as the end goal, as many seniors find fulfillment in staying engaged with their careers or pursuing other meaningful pursuits. Additionally, advancements in technology and the gig economy have empowered greypreneurs to launch and grow businesses, leveraging their skills and experience.
Despite the growing trend, ageism continues to be a challenge for older workers. The infographic highlights the prevalence of age discrimination in the workplace, with 60% of workers aged over 45 reporting or witnessing age discrimination. To combat this, career management coach Jane Jackson advises individuals to take control of their own destiny by starting their own businesses or pursuing freelance work.
Benefits of Age and Tips for Working for Yourself:
Older Americans possess valuable experience, better credit, and financial stability, making it easier for them to start businesses and secure loans. To work for yourself as a greypreneur, the infographic shares tips such as defining your goals, conducting market research, establishing an online presence, and networking to grow your clientele.
As the number of older Americans continues to grow, so does the trend of greypreneurship. These individuals are leveraging their experience, network, and financial stability to pursue their passions and make a meaningful impact on society. With the right mindset and strategic planning, older entrepreneurs can take control of their own destinies and thrive in the business world.