Older Entrepreneurs as Successful as their Younger Counterparts, Study Reveals
AnonTechie writes:
Older Entrepreneurs as Successful as Their Younger Counterparts, Study Reveals:
From Steve Jobs to Mark Zuckerberg, the stories of prosperous, young innovators drive the American economic narrative. However, the truth is that older business entrepreneurs may be just as well suited to success. And older women are far more successful at launching a business than their younger counterparts.
Those are among the findings reached by Hao Zhao, an associate professor of management at the Lally School of Management at Rensselaer Polytechnic Institute, in research recently published online in the Journal of Business Venturing.
Zhao and his co-authors conducted a meta-analysis based on 102 independent samples and determined that the rate of success for people who launch a business in their 20s is the same as for those who become entrepreneurs in their 50s. According to Zhao, this suggests that, while younger entrepreneurs are generally more adapt at inventing new technology and making bold moves, their older counterparts have more wisdom, financial capital, and business connections.
Zhao found that older entrepreneurs have slightly higher satisfaction levels and greater financial success than younger entrepreneurs. Their only disadvantage is slightly lower growth rates, an artefact of their companies tending to be larger in size.
Journal Reference:
Hao Zhao, Gina O'Connor, Jihong Wu, G.T. Lumpkin. Age and entrepreneurial career success: A review and a meta-analysis, Journal of Business Venturing (DOI: 10.1016/j.jbusvent.2020.106007)
I agree with their conclusion, do you ??
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