Study Finds Older Entrepreneurs Emerging

By: Amelia Nahmias Email
By: Amelia Nahmias Email

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HARRISONBURG, Va. (WHSV) -- 20 percent more small businesses are owned by entrepreneurs older than 50, according to a Kauffman Foundation/LegalZoom study.

The New Leaf Pastry Kitchen in downtown Harrisonburg opened a year and a half ago and the owners, a husband and wife, are both in their 50s.

Shawn Richards and his wife, Amy Lemmons, have moved around for years as Richards was a fine dining chef all over the country.

He feels that working for bigger companies actually has less job security than working for yourself.

He has seen a lot of his friends a colleagues lose their jobs and are not able to find another as the job market makes it tough for workers over 50 to get hired.

"Recent dramatic economic changes, and it's changed the playing field. A lot of people are reconsidering their plans," said Richards.

"We may be in our 50s but we're not dead yet, we're not ready to retire. We're still active and want to be active and want to be doing something productive. If you can't find a job with someone else, you make a job for yourself," said Lemmons.

In the past decade, this is the highest rate of entrepreneurial activity for ages 55 to 65. is happy to provide a forum for commenting and discussion. Please respect and abide by the house rules:

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