- 8 May 2019
- Transport / Logistics Services
The second annual UPS Store Inside Small Business Survey shows that 65% of US residents dream of opening a small business. Age isn’t a factor in this – 54% of them say they would rather open a small business than retire if money or health were not a factor later in life.
Dr. Luke Pittaway, Ohio University College of Business O’Bleness Professor of Entrepreneurship, says this could be attributed to people living longer, healthier lives. “People are living longer and remain healthier as they come up to retirement age, and many are choosing to start a small business as a way to stay active. In fact, the proportion of people starting businesses in the age range of 55 to 65 has increased in recent years, and at one point even surpassed the typical entrepreneur age group of 25 to 35-year-olds,” Pittaway said. “Older people tend to bring more financial wealth, experience and personal networks to their start-up efforts and therefore have the potential to be very competent entrepreneurs.”
Entrepreneurialism is encouraged from one generation to the next. Sixty two percent of respondents say they have hoped their child or one they know would startup a business of their own. Among small businesses owners, this figure hit 81%.
“At The UPS Store, Inc., we recognise that U.S. small business owners are some of the hardest-working, most passionate people around,” said Tim Davis, president of The UPS Store, Inc. “This survey reveals that the majority of small business owners, like our franchisee network, really want to help new business owners in their communities succeed. And with 4,800 locations across the U.S., The UPS Store network is ready to help every step of the way.”