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’.