For Entrepreneurs Over 50, A New Age

“Think you’re past your prime?” asks Inc.com. “Think again.”

In an article entitled “Never Too Old To Start A Business,” Inc.com references the Kaufman Foundation’s annual Index of Entrepreneurial Activity, which points out that the number of new businesses started by older entrepreneurs aged 55 and over has risen to 23.4 percent, up from just 14.3 percent in 1996.

We at Sintel found this of particular interest due to the momentum we’ve witnessed in mid-life career changes and older entrepreneurs entering into the franchise sector, a major area of our POS expertise.

One sign that this trend may not abate is the recent annual conference held by the non-profit Center for Productive Longevity (CPL) in Washington, D.C. to promote entrepreneurship among seniors.

The event built on work done last year by the CPL in hosting four regional meetings to encourage people over 50 to consider starting a business. “The national conference [held Nov. 7-8] will focus more broadly on the policies that need to change in the public, private, non-profit, and academic sectors in order to lower the hurdles for older entrepreneurs,” Inc.com writes. “For instance, few academic institutions hold courses in entrepreneurship for older people.”

Bill Zinke, a former management consultant and CPL founder who specialized in issues involving older workers, first envisioned the event in 2007 as he considered ways to encourage seniors to stay engaged in the businessplace. “Older people possess something younger people lack: namely experience, expertise, judgment, and performance,” he tells Inc. “That’s why the older people who create new businesses have a better rate of success.”

Besides encouraging schools to add additional classes for senior entrepreneurs, the two-day conference also urged the Obama administration to establish a “presidential commission to review and improve upon the regulatory environment for entrepreneurs in America.”

Post-conference, Zinke is making plans to raise money to fund senior entrepreneurial workshops around the country. He tells Inc.com the timing couldn’t be better. “In more recent years, the economy has shifted from being industrial to knowledge-based. Older people can continue working well into their 60s, 70s, and 80s,” the octogenarian founder tells Inc. “I guess I’m an example. And I do not think I’m an anatomical wonder. I simply reflect the reality of demographic change in America.”

Regardless of your age, if you’re considering starting a franchise business, you might not realize how important it is to choose the right POS provider for your long-term success.

Sintel enhances our customers’ success by turning POS data into strategic decisions, allowing larger franchises to grow and providing startups the foundation for future growth from the very beginning by acting as a franchise incubator, nurturing their businesses for the long haul.

Don’t wait until late in the game to plan for your POS system. The benefits of establishing an early relationship with your POS company are many — not just in demystifying the process and determining the optimal system, but even before you decide on a franchise direction.

Read the full Inc.com post here.

Sintel Systems is unique in that we are the only full-service POS provider, from software development to our unparalleled ongoing support. We form lasting partnerships with our clients that you simply can’t get from a reseller.

Sintel Systems is the only full-service provider of tailored Point of Sale systems across retail, restaurant and service industries, including frozen yogurt shops, pizzerias, sushi restaurants, cafés and retail stores.

As a single source for business solutions, our experienced, knowledgeable team negotiates the complex POS landscape for you to enable you to find the right POS system for your business and budget. Hardware – Software – Support

Questions or Comments: Contact us 855-POS-SALES www.SintelSystems.com

If you are interested in learning more about Sintel’s POS systems and how our inside knowledge and support can impact your future, call us for a complimentary phone consultation.