Ooma’s new graphic displays the average age of business owners around the country, but it also provides insight into how long it takes and the number of resources needed to start a business. Their data shows that most entrepreneurs are in their late 40s to early 50s, despite common depictions of young startup founders who are more the exception than the rule. The older age of business owners indicates that starting a business requires time, resources, and a well-networked community to get off the ground. It also implies that they bring stability, knowledge, and established networks of potential clients, employees, and other partners.
Younger entrepreneurs shouldn’t be counted out, though. They’re bold and more risk tolerant, making them innovative and decisive. The national average age of entrepreneurs is between 49 and 59, indicating that the average age of business owners is fairly consistent. Even in areas with younger populations, we often see that business owners tend to be middle-aged, suggesting that entrepreneurship requires a level of readiness that favors more experienced people.
infographic by: www.ooma.com
