Its a common belief that the majority of successful entrepreneurs start their empires at a young age. We’re so used to seeing Canadian entrepreneurs like Shannon Rogers (Global Relay), Tonia Jahshan (Steeped Tea), and Michael Foran (Aclarus) all launching successful careers in their early 20’s. The assumption of the young, successful entrepreneur is misleading and can be intimidating for someone who is wanting to switch careers and start their own business.
Our guess is that you’ve landed on this blog because you’re an aspiring entrepreneur who is longing to be your own boss but you’re wondering “Am I too old to start a business?” We’re here to tell you that age is just a number, and there is never a bad time to start a business. Read on to find out why.
What Is the Average Age of a Successful Business Owner?
The most important thing to keep in mind is that the trending age of successful new business owners is dependent on the industry they’re in. Here are a few industry statistics on the average age of new business owners:
- Technology: entrepreneurs are in the range of 20-30 years old
- Trades: entrepreneurs are in the range of 25-35 years old depending on the experience they need to acquire before they can venture out on their own
- Professional Practices: entrepreneurs such as lawyers, accountants, and doctors are in the range of 26-42 years old
- Freelancers: entrepreneurs are in the range of 25-55 years old
- Self Contractors: entrepreneurs are in the range of 45-65. This group has shown a large spike in new business because they’ve likely left their place of employment but they still provide contract services for the company
Now you’re probably thinking “That’s a wide age range”. You bet it is! There are a number of factors that go into starting a business, and age is just one of them. Although we are used to hearing about 20-somethings becoming successful entrepreneurs, when we look at the statistics for the average successful business owner, it shows that older entrepreneurs are widely successful. Take a look at this article by Harvard Business Review, the proof is in the pudding! Now is a perfect time to turn your passion into a small income or cash flow, no matter what your age.
Start Your Business the Right Way
CorePro8 is here to help you make the transition into becoming a business owner a flawless one. Don’t age yourself by spending countless hours on the internet searching for how to easily start your business. CorePro8 will walk you through each step and make sure that registering your business is done right.