t’s widely believed that the most successful entrepreneurs are young. Bill Gates, Steve Jobs, and Mark Zuckerberg were in their early twenties when they launched what would become world-changing companies. But do these famous cases reflect a general pattern?

Debunking the Myth of the Young Entrepreneur

Havard Business Review team analyzed the age of all business founders in the U.S. in recent years by leveraging confidential administrative data sets from the U.S. Census Bureau. They found that the average age of entrepreneurs at the time they founded their companies is 42. But the vast majority of these new businesses are likely small businesses with no intentions to grow large (for example, dry cleaners and restaurants).

To focus on businesses that are closer in spirit to the prototypical high-tech startup, a variety of indicators were used: whether the firm was granted a patent, received venture capital (VC) investment, or operated in an industry that employs a high fraction of STEM workers. They also focused on the location of the firm, in particular whether it was in an entrepreneurial hub such as Silicon Valley. In general, these finer-grained analyses do not modify the main conclusion: The average age of high-tech founders falls in the early forties.

These averages, however, hide a large amount of variation across industries. In software startups, the average age is 40, and younger founders aren’t uncommon. However, young people are less common in other industries such as oil and gas or biotechnology, where the average age is closer to 47. The preeminent place of young founders in the popular imagination may therefore reflect disproportionate exposure to a handful of consumer-facing IT industries, such as social media, rather than equally consequential pursuits in heavy industry or business-to-business sectors.

Further details @https://www.financialdigest.com.ng/blog/2019/01/28/research-older-entrepreneurs-are-more-successful-than-the-younger-ones/?customize_changeset_uuid=87eedaa9-5577-4732-aa49-1d534bb4bd26

An entrepreneur being successful is a factor of so many things which age is just one of the factor..


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[quote author=GoodGovernance post=75194793]t’s widely believed that the most successful entrepreneurs are young. Bill Gates, Steve Jobs, and Mark Zuckerberg were in their early twenties when they launched what would become world-changing companies. But do these famous cases reflect a general pattern?

Debunking the Myth of the Young Entrepreneur

Havard Business Review team analyzed the age of all business founders in the U.S. in recent years by leveraging confidential administrative data sets from the U.S. Census Bureau. They found that the average age of entrepreneurs at the time they founded their companies is 42. But the vast majority of these new businesses are likely small businesses with no intentions to grow large (for example, dry cleaners and restaurants).

To focus on businesses that are closer in spirit to the prototypical high-tech startup, a variety of indicators were used: whether the firm was granted a patent, received venture capital (VC) investment, or operated in an industry that employs a high fraction of STEM workers. They also focused on the location of the firm, in particular whether it was in an entrepreneurial hub such as Silicon Valley. In general, these finer-grained analyses do not modify the main conclusion: The average age of high-tech founders falls in the early forties.

These averages, however, hide a large amount of variation across industries. In software startups, the average age is 40, and younger founders aren’t uncommon. However, young people are less common in other industries such as oil and gas or biotechnology, where the average age is closer to 47. The preeminent place of young founders in the popular imagination may therefore reflect disproportionate exposure to a handful of consumer-facing IT industries, such as social media, rather than equally consequential pursuits in heavy industry or business-to-business sectors.

Further details @https://www.financialdigest.com.ng/blog/2019/01/28/research-older-entrepreneurs-are-more-successful-than-the-younger-ones/?customize_changeset_uuid=87eedaa9-5577-4732-aa49-1d534bb4bd26[/quote I get question

GoodGovernance:
t’s widely believed that the most successful entrepreneurs are young. Bill Gates, Steve Jobs, and Mark Zuckerberg were in their early twenties when they launched what would become world-changing companies. But do these famous cases reflect a general pattern?

Debunking the Myth of the Young Entrepreneur

Havard Business Review team analyzed the age of all business founders in the U.S. in recent years by leveraging confidential administrative data sets from the U.S. Census Bureau. They found that the average age of entrepreneurs at the time they founded their companies is 42. But the vast majority of these new businesses are likely small businesses with no intentions to grow large (for example, dry cleaners and restaurants).

To focus on businesses that are closer in spirit to the prototypical high-tech startup, a variety of indicators were used: whether the firm was granted a patent, received venture capital (VC) investment, or operated in an industry that employs a high fraction of STEM workers. They also focused on the location of the firm, in particular whether it was in an entrepreneurial hub such as Silicon Valley. In general, these finer-grained analyses do not modify the main conclusion: The average age of high-tech founders falls in the early forties.

These averages, however, hide a large amount of variation across industries. In software startups, the average age is 40, and younger founders aren’t uncommon. However, young people are less common in other industries such as oil and gas or biotechnology, where the average age is closer to 47. The preeminent place of young founders in the popular imagination may therefore reflect disproportionate exposure to a handful of consumer-facing IT industries, such as social media, rather than equally consequential pursuits in heavy industry or business-to-business sectors.

Further details @https://www.financialdigest.com.ng/blog/2019/01/28/research-older-entrepreneurs-are-more-successful-than-the-younger-ones/?customize_changeset_uuid=87eedaa9-5577-4732-aa49-1d534bb4bd26

why do older people succeed in business more Dan the young ones.

ihmmmmmm
depend on the so many Factor.
Not in this Nigeria