It may be news to some people, but not everyone who reaches retirement age actually wants to retire. In fact, more and more elders are starting their own businesses – and kicking them into gear.

Among entrepreneurs who start businesses between the ages of 20 and 64, almost a quarter are 55 or older, compared with 15 percent 20 years ago. The rate of entrepreneurship in 50+ has grown faster than in any other demographic – and a study by Merrill Lynch found that more than seven of 10 pre-retirees want to keep working – which is a good thing given that companies launched by people in their 50s have a higher rate of survival than those founded by any other age group.

For an example, check out this article on Pedego – 50+ entrepreneurs who make electronic bikes; ideal for when you get older, but want to keep active.

As the owners of Pedego say, “of course, later-in-life entrepreneurship has its drawbacks”. But just as they have built their bikes to suit older bodies, they have also built Pedego to accommodate skill deficits – chiefly in technology and social media – among some of their older dealers. And the business model intentionally minimizes risk for a demographic that has more money but also less time to make up losses.

Still, the founders say they never had a second thought about trusting their fortunes to the elder crowd. Pedego store owners “are more mature and, I think, more rational” than younger business owners, says CEO DiCostanzo. “Think about the decisions you make at 55 compared with when you were 25. They’re probably better decisions.”

Keep on rollin’.

http://www.inc.com/magazine/201703/leigh-buchanan/life-cycle-pedego-bikes.html