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Why middle-aged entrepreneurs are better than young ones

By Administrator | 18 July 2018

Sukanlaya Sawang - The Conversation - 17 July 2018

Bill Gates, Steve Jobs, and Mark Zuckerberg are three of the biggest role models for entrepreneurs. They are all famous for starting their companies in their early 20s and in many ways set the benchmark for what a successful entrepreneur looks like.

And yet, there is reason to believe that we’d be better off investing in older entrepreneurs. They are actually far more successful than younger ones, according to new research, which analysed the age of all business founders in the US in recent years and how well they did.

Young entrepreneurs may have some advantages. They are often native users of the most modern technology, are more flexible and do not have family commitments (and therefore inclined to take more risks). But a recent publication in the National Bureau of Economic Research shows that middle-aged entrepreneurs are far more successful than younger ones.

The study reveals that entrepreneurs who are under 25 tend to perform poorly. The probability of success increases once people reach 25, then performance seems steady among people aged between 25 and 35. The success probability then starts to jump after the age of 35, jumping again at the age of 46 and remaining stead toward the age of 60. Read more

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