Octogenarians Launching Businesses After Facing Employment Challenges

Many older Americans are overcoming employment challenges by starting their own businesses. With age often seen as a barrier, many are embracing entrepreneurship as a solution to financial instability and a way to regain purpose.

Octogenarians Taking the Entrepreneurial Leap

For example, Ina Harris, 82, launched her business in August 2024. After a series of inconsistent jobs as a direct care professional, she turned to self-employment to make ends meet. Living in Easton, Pennsylvania, her business focuses on wellness checks, medication pickups, and grocery deliveries. At $20 an hour, Harris works 20 to 30 hours a week to cover her monthly expenses of approximately $2,000.

Harris reflects, “You never know when you start a business, but it might be successful.” Her experience is part of a larger trend among older adults. Statistics reveal that around 27% of the nearly 550,000 Americans aged 80 and older are self-employed, highlighting a growing preference for entrepreneurship.

Shifting Demographics and Self-Employment Trends

Research indicates that self-employment rates increase slightly after age 65. Cal Halvorsen, an associate professor of social work, notes that eligibility for Medicare and Social Security allows many seniors to pursue self-employment. Often, these individuals leave traditional work to care for family members.

• Self-employment is a growing choice for older Americans.
• Individuals often face challenges in finding stable employment.
• Self-employment is often less secure than traditional jobs.

Challenges Faced by Older Entrepreneurs

Despite their age and experience, many older entrepreneurs struggle to secure supportive resources. For instance, 82-year-old Phyllis Miller, a former entrepreneur, now faces financial and operational barriers to starting new ventures. She describes feeling stuck without sufficient savings or access to funding.

Ginger Wright, 81, who previously held a high-ranking position at a call center, is also considering consulting opportunities while balancing her recent retirement. She emphasizes the importance of maintaining a healthy lifestyle amidst financial stress.

Support and Resources for Older Business Owners

Organizations like Age Equity Alliance encourage companies to recognize the value older workers bring. Sheila Callaham emphasizes the need for a work culture accommodating employees of all ages. As more seniors navigate the job market, there are increasing calls for companies to adapt and support diverse age groups in the workforce.

This growth in entrepreneurship among older adults also aligns with a broader trend. Many of them are motivated to find ways to contribute meaningfully while securing their financial futures.

Although challenges like age bias persist, the determination displayed by these octogenarians serves as an inspiration. They prove that starting a business can provide not only financial relief but also a renewed sense of purpose and community engagement.