04/13/2013 07:34 am ET

7 Steps To Starting Your Own Business Over 50


The New Retirement

Thinking of starting a business? You’re not alone. According to The Kauffman Foundation, an organization that studies entrepreneurship, the age group starting the greatest number of new businesses? Those 55 to 64.

“When you look at the wealth of experience people over 50 have garnered over the length of their careers, it sets them up perfectly for starting a business,” says Marva Goldsmith, herself 54 and the author of "Rebranding Yourself After Age 50."

Not only that, but the over-50 set is looking differently at the retirement years, says Michael Chodos, associate administrator for entrepreneurial development with the United States’ Small Business Administration.“Folks are coming into their second acts healthy, with vast experience and see another 30 years in front of them. They’re not satisfied with the definition of retirement as being 'done.'”

Want to launch your own venture? Follow these tips from our experts to get your business up and running.>>

7 Steps To Starting Your Own Business Over 50

Read more on Grandparents:

10 Companies That Employ the Most People Over 50
The Best Part-Time Jobs for You
10 Jobs You Can Do from Home

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