The Rise of Encore Entrepreneurs

More people than ever before are launching businesses in their 50s, 60s, and even 70s—not because they have to, but because they want to. This new wave of “encore entrepreneurs” is redefining what the second half of life looks like. Retirement is no longer a cliff we fall off at 65; it’s a springboard into passion, purpose, and possibility.

Whether driven by unfulfilled dreams, financial opportunity, or a desire to make an impact, older adults are creating businesses at a faster rate than their younger counterparts. According to a report from the Kauffman Foundation, people aged 55 to 64 have become the fastest-growing group of new entrepreneurs in the U.S., responsible for nearly 25% of all startups in recent years.

Why Now?

There are several reasons older adults are seizing this moment:

Experience. Decades of work mean a deeper understanding of industries, people, and pitfalls. Many have honed leadership and problem-solving skills that younger founders haven’t developed yet.
Resources. Many encore entrepreneurs have financial stability, existing networks, and reputations that can accelerate success.
Time and Flexibility. With kids grown and retirement plans forming, this life stage often comes with fewer day-to-day responsibilities—making it the perfect time to explore something bold.

Most importantly, encore entrepreneurship offers a new kind of fulfillment. “You are never too old to set another goal or to dream a new dream.” —C.S. Lewis

Planning a Purpose-Driven Second Act

Encore entrepreneurship isn’t just about profit; it’s about purpose. Whether launching a consulting firm, opening a bakery, or starting a nonprofit, older adults are prioritizing alignment with personal values.

One inspiring example is Paul Tasner, who started his sustainable packaging company at age 66 after being laid off. His TED Talk, “How I became an entrepreneur at 66,” has inspired millions (watch here).

Another is Ernestine Shepherd, who started a fitness training business after 70, combining entrepreneurship with wellness and community engagement.

You don’t need to reinvent the wheel—you just need to find your wheelhouse.

Tools and Resources to Help You Get Started

If you’re thinking about launching your own venture later in life, here are some tools and resources to explore:

SCORE (https://www.score.org): Offers free mentoring, business templates, and webinars tailored to small business owners, including encore entrepreneurs.
AARP’s Small Business Resource Center (https://www.aarp.org/work/self-employment/): Specifically supports those over 50 starting a business.
Encore.org (https://encore.org/): Connects older adults with purpose-driven work, including social entrepreneurship and mentoring.
Bplans (https://www.bplans.com): Offers free sample business plans and financial forecasting tools.

Apps like Canva (for branding and marketing), QuickBooks (for accounting), and Trello (for project management) make running a modern business manageable, even for solo entrepreneurs.

Action Steps to Launch Boldly

Clarify your “Why.” What motivates you? Income? Impact? Identity? Use tools like Simon Sinek’s Start with Why framework or journaling to find your driving force.
Start small. Test your idea with a side project, part-time consulting gig, or pilot program. Market feedback is more valuable than perfection.
Build a support circle. Find a mentor, join a local entrepreneurship group, or connect with other encore founders online through forums like Reddit’s r/entrepreneur or StartUpNation.
Design your business around your life—not the other way around. This is your second (or third) act—build it to reflect your values, not just your resume.
Keep learning. Enroll in workshops, take online classes on Coursera, edX, or LinkedIn Learning. Stay mentally agile to stay competitive.

Are you dreaming of a second act filled with creativity, impact, or independence? Do you have an idea you’ve always wanted to test but haven’t had the time until now?

What would you build if age and fear weren’t holding you back?
Have you seen someone start a business later in life and succeed?
What problem in the world would you love to solve with your unique perspective and experience?

“The best time to plant a tree was 20 years ago. The second-best time is now.”

If you’ve considered launching your own venture or already have, we want to hear from you! Join the conversation at the Age Brilliantly Forum to share your ideas, questions, or wins—and inspire others to take their first bold step toward encore entrepreneurship.