Monday, December 16, 2013

What's the Best Age to Start a Business?

Is it ever too late to start a business, according to Inc.com, 25 is not the "right" time to start a business. There's an ongoing debate with two sides:  the prime of our lives versus wisdom of age. An anonymous user asked on a thread on Quora, "What do people in Silicon Valley plan to do once they hit 35 and are officially over the hill?" Typically, life in Silicon Valley ends around the age of 35 unless you move up in management or hit it big. Since the initial post, many entrepreneurs of the age of 35 plus commented on the post stating how they've just founded their own companies even though they were older than 35 years of age. According to the Kaufman Foundation found, "the average and median of US born tech founders was 39 and twice as many were older than 50 as were younger than 25." According to a survey conducted by American Express, "24-35 year old have only become more risk-adverse with time." They also found that 16 percent started businesses immediately after school, which is a 12 percent drop from 2007. Should age really define your success as a business owner? Should age also determine when you should start your business? After all, age is only a number.