Recession pushes rate of start-ups to 14 year high

According to a report from the Kauffman Foundation, start-ups hit a 14-year high in the middle of last year. The rate of new business-creation is higher now than it was at the peak of the tech boom. 

 

According to data on self-employment from the Census Bureau and the Labor Department, more than half-a-million people started their own businesses each month. And that is up nearly 5 percent from the previous year. And what's more, there's some groups that haven't been at the forefront, like African Americans, who are now increasing their start-up rate. 

 

The other group that's really ramping up is the 55 to 64-year-old crowd. You know, we usually think of the start-up lifestyle as something best fitted to maybe 20 or 30-somethings – they don't have family obligations, they can take risks. But you know, in fact, older workers are the people with experience, they're the people with Rolodexes full of names and maybe a little money in the bank to invest.

 

Read the rest of the story at Marketplace.org.