As the Occupy movement continues to gain momentum, baby boomers and their seniors have expressed their desire to bring about social change, just in a different manner. People ages 44 to 70 -- 25 million people -- want to start businesses or nonprofits to employ themselves and others.
New Businesses, New Jobs
One-fourth of Americans in the age group expressed interest in creating new businesses or nonprofits in research released by Civic Ventures and funded by MetLife Foundation. Twelve million would be first-time business owners; 72 percent of those starting a business for the first time desire to start small, local businesses that would employ up to 10 individuals.
If only one-third of these first-time business organizations came to fruition, there is the potential for 80 million new jobs, a major impact in the American lagging economy.
Impediments to Implementing New Businesses
The Civic Venture research indicates many of the people desiring to begin a business for the first time are put off by the economic risk associated with a new venture. Still, more than half of this group says they are still eager to move forward with new business plans, expecting to put such plans into place within the next five to 10 years.
Personal Stories of Success
Nancy Sanford Hughes, 68, after having been a stay-at-home mom for most of her adult life, felt at a loss after her husband of 30 years died in 2001. Initially, she cooked for a medical mission in Guatemala as a volunteer. On her third such mission, she realized the sub-par stoves she on which she cooked were both unreliable appliances at best and unsafe for users at worst.
With that realization, Hughes determined to develop safer stoves for Third World countries, and began StoveTeam International, for which she received an Encore Purpose Prize -- a prize given to those instrumental in making social change and over the age of 60.
Bottom Line
Marc Freedman, founder and CEO of Civic Ventures, has said that it is heartening that so many people are interested in beginning new businesses in their communities. It could be the beginning of great social change.
Smack dab in the middle of the baby boomer generation, L.L. Woodard is a proud resident of "The Red Man" state. With what he hopes is an everyman's view of life's concerns both in his state and throughout the nation, Woodard presents facts and opinions based on common-sense solutions.
