Why Boomers Might Be the Breakout Stars of Entrepreneurship (Infographic) Many of the individuals born 1946 to 1964 are gearing up to launch a business of their own.

By Catherine Clifford

Opinions expressed by Entrepreneur contributors are their own.

Shutterstock

A hefty portion of the boomer generation is zooming in on retirement. But many of these individuals aren't thinking about lawn chairs and backyard barbeques. They're thinking about embarking on a career as an entrepreneur.

Boomers, the generation of people born between 1946 and 1964, are twice as likely to be gearing up to launch a business in the next year than millennials are, according to entrepreneurship organization the Kauffman Foundation in its 2015 State of Entrepreneurship Study.

That's good news for the U.S. economy which, despite a rise in the reputation of the entrepreneur and some breakout superstars, has been struggling to reverse a downward trend of entrepreneurship since the Great Recession.

Related: The Case For and Against Millennials as the Greatest Entrepreneurial Generation (Infographic)

What older entrepreneurs may lack in energy, they make up for in previous work experience. Also, they tend to have a relatively significant level of wealth amassed, according to the Kauffman Foundation. And when you are trying to get a business off the ground, having money to work with is a pretty big boon.

For a closer look at the the advantages and disadvantages boomers have in the game of entrepreneurship, take a look at the infographic generated by the Kauffman Foundation, embedded below.

Related: Baby Boomers, Who Are More Successful as Entrepreneurs, Are Great Startup Assets

Click to Enlarge

Why Boomers Might Be the Breakout Stars of Entrepreneurship (Infographic)

Related: 7 Ways to Bridge the Boomer-Millennial Gap
Catherine Clifford

Senior Entrepreneurship Writer at CNBC

Catherine Clifford is senior entrepreneurship writer at CNBC. She was formerly a senior writer at Entrepreneur.com, the small business reporter at CNNMoney and an assistant in the New York bureau for CNN. Clifford attended Columbia University where she earned a bachelor's degree. She lives in Brooklyn, N.Y. You can follow her on Twitter at @CatClifford.

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.

Editor's Pick

Innovation

4 Ways Market Leaders Use Innovation to Foster Business Growth

Forward-thinkers constantly strive to diversify and streamline their products and services, turning novelties into commodities desired by many.

Business News

JPMorgan Shuts Down Internal Message Board Comments After Employees React to Return-to-Office Mandate

Employees were given the option to leave comments about the RTO mandate with their first and last names on display — and they did not hold back.

Side Hustle

'Hustling Since Middle School': She Started a Side Hustle on Facebook Marketplace — Then a 'Game-Changer' Grew It to $25,000 a Month

Leena Pettigrew's "entrepreneurial spirit" inspired her to build a business with earnings that outpaced her full-time income.

Business Ideas

70 Small Business Ideas to Start in 2025

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2025.

Business News

'I Want the Best People on Our Teams': Meta Is Laying Off More Than 3,000, CEO Mark Zuckerberg Calls for 'Extensive Performance-Based Cuts' — Read the Memo

In an internal memo shared on Tuesday, Zuckerberg said it's "going to be an intense year" at the company.

Leadership

From Elite Athletes to Tech Titans — Discover the Surprising $100-Million Habit That Leads to Extraordinary Success

Success comes from mastering focus, eliminating distractions and prioritizing what truly matters.