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Retirees encouraged to consider starting a business

Retirees encouraged to consider starting a business

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SALT LAKE CITY — It's estimated that almost two-thirds of people who are retirement age plan to continue working in some way. Experts say potential retirees ought to consider starting a business, and Utah officials are ready to help.

The U.S Small Business Administration and the AARP of Utah are teaming up for a workshop Tuesday afternoon to help those ages 50 and older who want to start their own business.

"People have the ideas and they have the passion. They may not have the know-how," said Alan Ormsby, director of AARP of Utah. He says many baby boomers are taking care of their parents and their adult children.

Believe it or not, not everyone wants to retire on the golf course.

–Stan Nakano

"Starting a business can be a way to address some of those challenges," he said. "You have the time, and the ability to do things on your own schedule."

Stan Nakano with the SBA says 63 percent of retired people really plan on working in some fashion.

"Believe it or not, not everyone wants to retire on the golf course," he said.

Encore Entrepreneur Mentor Day
Age 50+ Entrepreneurs
  • Oct. 2
  • Utah District Office
    U.S. Small Business Administration
    125 South State Street, Room 2404
    Salt Lake City, Utah, 84138
  • 2:00 pm - 3:30 pm
More information:
  • 801-524-3217 or 801-524-3209

Nakano says baby boomers have years of experience that make them ideal business owners.

"They are passionate about their hobbies and interests, and during their careers they've developed some good skill sets."

He says often they also have the financial capacity.

The workshop will have mentors, counselors and coaches available to help those hoping to start a business.

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Mary Richards


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