The recent economic woes have hit some seniors especially hard. Those that had saved up for retirement have seen their money disappear with the dip in the stock market. Many who were working now find themselves laid off – often so the company could replace them with younger employees. And with the poor job market, many of those who have wanted to go back to work have been unable to find a job.

The pessimist may be frustrated by these circumstances; in reality, conditions are perfect for seniors to take their knowledge and experience, and start their own business.

The fundamentals of starting a business as a senior are no different than for anyone else. You still need to develop a business plan, perhaps look for investors, and do market research; but there are also some opportunities and resources available only to seniors.

Grant Funding Whether small business, individual, non-profit, private, or government, grants specifically for seniors Cialis are a good way to get funding to start your business. Each grant has different criteria, which you may not always meet, but there’s likely a grant out there for you.

Experience Unless you’ve spent your whole life not learning, growing, or improving, your experience may be your greatest asset. It doesn’t have to be business experience, per se; life experience may better prepare you for the adventure you’re about to take.

Persistence You didn’t get this far in life by giving up or giving in. Even if you go through all the preparation necessary, you may realize the idea won’t work. That’s fine. Learn from it, grow a new idea, and start again.

But of course, just because you’re a senior doesn’t mean it’s going to be easy. There are factors that aren’t necessarily unique to seniors starting businesses, but you still need to be aware of them.

Beware of Scams Anyone can be tricked into a scam, but often seniors are especially susceptible. This is usually because the scam involves the “mysterious” Internet, something they may not have a full grasp of. You certainly can make money online – and an online business is likely the best choice for a senior – but you certainly won’t make millions in your first month. So do you research, and if it seems too good to be true, it probably is. (And if a Nigerian prince e-mails you wanting to give you his fortune, don’t respond.)

Beware of Competition Even though you, as a senior, have the upper hand on others in some ways, there will still be competition. The economy is bad for everyone, which means there is less elbow room for all the companies in the marketplace, and you won’t just be competing against other seniors. But that’s why it’s so important to focus on what advantages you can bring to the market that others can’t.

So regardless of your current situation, consider becoming an entrepreneur and starting your own business. It could potentially save your retirement.

Author Bio: Jacque Crook works with PMI Coaching to help people make change in their lives.

Category: Business/Entrepreneurship/Start Up
Keywords: senior busiess, senior entrepreneurs