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SBA Teams with AARP to Assist Over-50 Entrepreneurs

Staff Writer |

WASHINGTON – The U.S. Small Business Administration and AARP are launching a strategic alliance to provide counseling and training to entrepreneurs over the age of 50 who want to start or grow a small business.

Through SBA’s online training courses and its nationwide network of business mentors and counselors, the two organizations expect to train 100,000 “encore entrepreneurs,” men and women over 50 who are starting or running a small business, such as a coin laundry.

“No matter what your age, if you have an idea or a business that’s ready to move to the next level, the SBA wants to make sure you have access to the tools you need to start and grow,” says SBA Administrator Karen Mills. “We know that working side-by-side with AARP, we will be able to reach baby boomers and Americans over the age of 50 who have years of professional experience working for others and are ideally positioned to step out and become their own boss. And, in doing so, they will become job creators and drivers of economic growth in their communities.”

SBA has set up a dedicated web page for Americans over the age of 50 featuring: an online self-assessment tool that will help potential small-business owners understand their readiness for starting a business as well as information to help with business planning, shaping a winning business idea, professional counseling, financial services and information to find local resources.

SBA and AARP also will jointly develop and host a customized online course, self-assessment, and webinar series for older entrepreneurs.

“Many baby boomers are working beyond retirement age and choosing to stay active and engaged in the workforce,” Mills says. “For many older entrepreneurs, starting a small business can be an opportunity to transform a lifetime hobby or interest or years of professional experience into a lucrative line of work.”

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