Meeting the Needs of Midlife Entrepreneurs

Meeting the Needs of Midlife Entrepreneurs
Category: Commentary
Author: David Deeds
Published: April 15, 2024
Updated: April 24, 2024
Views: 4099
Downloads: Full Article PDF

Changing demographics, economic upheavals, and other factors have led to a big increase in people who choose to start their own businesses late in life. The Ewing Marion Kauffman Foundation reported that 23 percent of entrepreneurs were between the ages of 55 and 64 in 2021, compared to 15 percent just five years earlier. EIX and FamilyBusiness.org’s collections of articles for older entrepreneurs have become an important resource for our readers. Our partnership with NextAvenue, an online platform launched by Twin Cities PBS, makes this happen.

NextAvenue is a nonprofit, digital journalism publication dedicated to covering the issues that matter most for aging people. Like EIX and FamilyBusiness.org, Twin Cities PBS is supported by the Richard M. Schulze Family Foundation. The online publication, which is free, features articles about work, money, health, lifestyles, and caregiving. We are deeply grateful to NextAvenue and the Schulze Family Foundation for the opportunity to share their articles about older entrepreneurs with our site visitors.

The entrepreneurship-focused NextAvenue articles that we’ve shared on our platforms have been popular – in fact, Richard Eisenberg’s article about family business succession has attracted the most page views ever, at 2.5 million and counting.  Other NextAvenue articles posted on our sites have focused on running a side hustle, managing change, and what to do when a downsizing forces you to become an entrepreneur, among many other topics.

However, many of our most popular articles have focused on a perennial challenge for entrepreneurs of all ages, from 20-somethings to Baby Boomers: money. These are the five best-read articles (after the succession article) that we’ve published thanks to our partnership with NextAvenue.

Turning Your Invention Into a Business

You have a great invention idea. So, how do you turn it into a profitable business, especially if you want to do it later in life?

How to Get Money to Start a Business

Should you tap personal savings to fund your second-act dream? Ask friends and family? These midlife entrepreneurs share what worked for them.

Is Asking Friends and Family Members for Money the Right Move for Your Business?

The "friends and family round" is often the first step in raising money after self-funding your startup with your savings, yet nobody really tells you how to do it.  

How to Pitch Your Startup to Attract Money

Older entrepreneurs understand the art of the pitch better than younger entrepreneurs, but these tips are timeless for any generation.

How to Build Multiple Sources of Revenue for Your Business

Do your homework, know your customers, and get on the right platforms. 

To read the full library of articles, click here.


David Deeds
David Deeds
Schulze Professor of Entrepreneurship / Schulze School of Entrepreneurship / University of St. Thomas
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Cite this Article
DOI: 10.32617/1058-661d233eddaa0
Deeds, David. "Meeting the Needs of Midlife Entrepreneurs." FamilyBusiness.org. 15 Apr. 2024. Web 23 May. 2024 <https://eiexchange.com/content/meeting-the-needs-of-midlife-entrepreneurs>.
Deeds, D. (2024, April 15). Meeting the needs of midlife entrepreneurs. FamilyBusiness.org. Retrieved May 23, 2024, from https://eiexchange.com/content/meeting-the-needs-of-midlife-entrepreneurs