It is never too late to take the plunge and start your business. The struggling state of the economy combined with the high unemployment rate has led many Americans of the” baby boomer” generation to continue working long past the traditional retirement age.

Some choose to carry on with their long term career and hold off on retirement, while an increasingly high number of those in their 50’s, 60’s and even 70’s are leaving their careers to find satisfaction and a paycheck in self employment. The time has never been better to start your business and utilize the experience and knowledge acquired over the years to build a comfortable nest egg for the future.

Why would anyone nearing their retirement want to start fresh on a new employment venture? There are a number of reasons for the increase in self employment figures for the 50 and over crowd. It is not new news that the economy has had a major impact on the success of companies both big and small.

As a result, the job market has also taken a hit. Many companies are not only reducing their work force, they are seeking outside sources, such as freelance workers, to fulfill the duties they require at a lower cost.

They are doing away with positions that are no longer viewed as essential, which can include employees both young and old. Additionally, those over 50 have a vast amount of experience and job related skills that they have picked up throughout the years giving them an advantage to being their own boss. The knowledge of what will be successful along with the contacts and resources to make it happen can be a perfect formula to start your business.

The type of work chosen must be something you enjoy and are motivated to get up in the morning to do. Many retirees find that they miss the consistency and social opportunity of having a job to go to every day.

It is a good idea to choose a line of self employment with lower risk without the expectation of instant and rapid growth. One option in utilizing the skills already acquired is to get involved in consultant work.

Whether working directly with a previous employer or expand to other clientele, it is an ideal way to offer personal expertise and advice to companies that need it more than ever in this economy. Other common choices to consider when looking to start your business is non-profit or charity work, teaching, and freelance writing.

While many of those entering into self employment over the age of 50 have worked many years for someone else, it can be overwhelming as to the logistics of getting a company up and running. There are a number of aspects to consider from the initial financing, setting up a work space, bookkeeping responsibilities, making industry and client connections, and setting up the overall business plan to be achieved.

There are a number of ways to seek help and advice throughout the process when planning to start your business. From online resources to an industry specific career planner, even those over 50 should utilize the tools available to them when diving into self employment for the first time. It’s just the beginning of the next stage in your life, and, when well thought out, it can be a rewarding and challenging experience for anyone’s retirement years.

Careermode is an expert in choosing a career, or how to start your business and finding jobs for those over 50.

When looking for help with your career please visit us at http://www.careermode.com/

Author Bio: Careermode is an expert in choosing a career, or how to start your business and finding jobs for those over 50.

Category: Career
Keywords: start your business, earn at home, job opportunities, career , jobs for those over 50