LATER LIFE ENTREPRENEURSHIP: AS THE U.S. POPULATION AGES, IT’S A GROWING TREND

Baruch Conference Looks at Changing Demographics, Employment Patterns

Conference Date: Monday, Oct. 30, 2006

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New York, NY - October 30,2006-Contrary to the popular image of the entrepreneur as an ambitious young hotshot, many, if not most of those who elect to start their own businesses are men and women over the age of 50.  Later life entrepreneurship, a largely unnoticed and unexamined social trend, will be the subject of a major first-of-its kind conference at Baruch College on Monday, Oct. 30, 2006.

              Organized by the Lawrence N. Field Center for Entrepreneurship at Baruch and co-sponsored by the AARP and the UJA Federation of New York, the conference will look at issues and challenges associated with this growing social phenomenon.  How does later life entrepreneurship differ in risk-taking, financing, and family dynamics? Are older entrepreneurs driven by the need to supplement insufficient retirement funds?  Are they fulfilling lifelong dreams? What determines the success or failure of their ventures?

              Edward Rogoff, professor of management at Baruch’s Zicklin School of Business and director of the Field Center, calls this conference “a seminal event and one that aims to define later life entrepreneurship and create a new field of study.” Researchers from a wide range of disciplines, including economics, sociology, finance, gerontology, and philanthropy, will participate in this conference, which takes place in the Baruch’s Newman Conference Center, 151 E. 25th Street, Room 750, 8 am – 3 pm on Monday, Oct. 30, 2006.  Coverage Invited. 

              In many respects, older individuals are better positioned for entrepreneurial activity than the young.  For one thing, they tend to have more resources:  older people are wealthier and have better credit histories and more experience and education than the

young.  As people live longer, healthier lives, they continue to have personal goals, ambitions and dreams.  Simultaneously, traditional pensions and retirement funds are shrinking. The result makes entrepreneurship an increasingly attractive option for older people.

        The Field Center is a unique model of entrepreneurship education and collaboration that combines the resources of higher education, government programs, and private sector support.  Faculty and students from Baruch College’s Zicklin School of Business, Small Business Development Center business advisors, external business professionals and Baruch College alumni are brought together to support the entrepreneurial endeavors of start-up and established businesses.

               Baruch College’s Zicklin School of Business offers undergraduate and graduate concentrations in entrepreneurship.  In the October 2006 issue of Entrepreneur magazine, Baruch’s undergraduate entrepreneurship program was ranked 18th best in the country in by Entrepreneur and The Princeton Review.

Contact:  Zane Berzins, News Director, (646) 660-6113