A seniors group and the Obama Administration are trying to encourage more so-called "encore entrepreneurs" to give the marketplace another try.
Liz Hayes is a former teacher and small business employee who bought a retail jewelry store a few years ago at age 50. The Whitefish Bay resident says she definitely sees two sides to the coin, "Owning a business causes lack of sleep, but I love what I do."
Loves it enough so that Hayes is considering buying a second business. But she says won't spend the retirement nest egg from her previous career. AARP Wisconsin State Director Sam Wilson says money is a key consideration for 50-somethings-and-up who are thinking about becoming an entrepreneur, "Some of the resources you may be willing to risk while you're getting closer to retirement."
Still, AARP and the Small Business Administration teamed up Tuesday at more than 60 sites around the U.S. with events aimed at mentoring older, would-be entrepreneurs. Wisconsin SBA Director Erik Ness says the SBA can offer mentors, loans, and help to win federal contracts, "And getting it to small businesses so they can create jobs."
The goal of the National Encore Entrepreneur Mentor Day was to connect with 100,000 people over the age of 50.