heir own money to start their business and found it difficult to get business loans. Finally, it seems that, at whatever age, women are faced with the lifelong responsibility of being the primary caregiver, whether for children, spouses, or parents. Finding the right balance between the personal and the business life remains a constant struggle.

One issue that was expressed by several of the women was a general lack of self-confidence related to starting and running a small business at an older age. Several women said they felt invisible because of their age and sometimes thought their efforts were not taken seriously by the larger business community. Despite obstacles,

We are seeing remarkable things happening in the world of entrepreneurship. The concept of retirement is being redefined by scores of women who are either continuing to manage or starting to run their own business, proving that age is not a barrier to financial success and personal achievement. Whether starting a business out of economic necessity or pursuing a dream long put on hold, women in their 40s, 50s, 60s, and even older are finding new outlets for their creative spirit. According to the National Association for the Self-Employed (NASE), there are close to 4 million women business owners over age 40 and the number continues to grow as Baby-Boomer women approach retirement.

To find out more about what drives mid-life women to become entrepreneurs, I conducted interviews with close to 100 women in their late 40s and older who had started their own business. The main reasons for starting a business cited by the women I interviewed included a desire for financial and personal independence, a need to do something creative, and the chance to pursue a lifelong dream. Like many other Baby Boomers, these women did not feel they were ready to embrace a life of rest and relaxation. They were looking for stimulation and a desire to do something meaningful and personally rewarding with the second half of their lives.

When asked what success meant to them, most women defined the concept in terms of their capacity to help others, the chance to make a contribution to the community, and their ability to find pleasure in what they were doing. The words fun and passion were repeatedly expressed. The excitement in their voices was electrifying.

Although they did not cite the usual symbols of business success such as profit, size, and growth as driving forces in their ventures, this does not mean that the women viewed financial success as unimportant. Freedom from financial worry was definitely seen as desirable. However, the creation of wealth by itself, was not the primary motivation for starting a business.

Despite the overwhelmingly positive attitude toward running a business, the women did identify some problems. These included lack of support from family and friends; lack of business skills; difficulty obtaining financing; and having to juggle business needs with family and caregiving needs. While some of the women had good support from family and friends, others said it was an uphill battle and felt they had to continually justify their actions. Most of the women, even those who had held corporate positions, felt they were poorly prepared for running a small business and that they generally learned by trial and error. All of the women I interviewed said they had used their own money to start their business and found it difficult to get business loans. Finally, it seems that, at whatever age, women are faced with the lifelong responsibility of being the primary caregiver, whether for children, spouses, or parents. Finding the right balance between the personal and the business life remains a constant struggle.

One issue that was expressed by several of the women was a general lack of self-confidence related to starting and running a small business at an older age. Several women said they felt invisible because of their age and sometimes thought their efforts were not taken seriously by the larger business community. Despite obstacles, t

ement.

To find out more about what drives mid-life women to become entrepreneurs, I conducted interviews with close to 100 women in their late 40s and older who had started their own business. The main reasons for starting a business cited by the women I interviewed included a desire for financial and personal independence, a need to do something creative, and the chance to pursue a lifelong dream. Like many other Baby Boomers, these women did not feel they were ready to embrace a life of rest and relaxation. They were looking for stimulation and a desire to do something meaningful and personally rewarding with the second half of their lives.

When asked what success meant to them, most women defined the concept in terms of their capacity to help others, the chance to make a contribution to the community, and their ability to find pleasure in what they were doing. The words fun and passion were repeatedly expressed. The excitement in their voices was electrifying.

Although they did not cite the usual symbols of business success such as profit, size, and growth as driving forces in their ventures, this does not mean that the women viewed financial success as unimportant. Freedom from financial worry was definitely seen as desirable. However, the creation of wealth by itself, was not the primary motivation for starting a business.

Despite the overwhelmingly positive attitude toward running a business, the women did identify some problems. These included lack of support from family and friends; lack of business skills; difficulty obtaining financing; and having to juggle business needs with family and caregiving needs. While some of the women had good support from family and friends, others said it was an uphill battle and felt they had to continually justify their actions. Most of the women, even those who had held corporate positions, felt they were poorly prepared for running a small business and that they generally learned by trial and error. All of the women I interviewed said they had used their own money to start their business and found it difficult to get business loans. Finally, it seems that, at whatever age, women are faced with the lifelong responsibility of being the primary caregiver, whether for children, spouses, or parents. Finding the right balance between the personal and the business life remains a constant struggle.

One issue that was expressed by several of the women was a general lack of self-confidence related to starting and running a small business at an older age. Several women said they felt invisible because of their age and sometimes thought their efforts were not taken seriously by the larger business community. Despite obstacles,

meant to them, most women defined the concept in terms of their capacity to help others, the chance to make a contribution to the community, and their ability to find pleasure in what they were doing. The words fun and passion were repeatedly expressed. The excitement in their voices was electrifying.

Although they did not cite the usual symbols of business success such as profit, size, and growth as driving forces in their ventures, this does not mean that the women viewed financial success as unimportant. Freedom from financial worry was definitely seen as desirable. However, the creation of wealth by itself, was not the primary motivation for starting a business.

Despite the overwhelmingly positive attitude toward running a business, the women did identify some problems. These included lack of support from family and friends; lack of business skills; difficulty obtaining financing; and having to juggle business needs with family and caregiving needs. While some of the women had good support from family and friends, others said it was an uphill battle and felt they had to continually justify their actions. Most of the women, even those who had held corporate positions, felt they were poorly prepared for running a small business and that they generally learned by trial and error. All of the women I interviewed said they had used their own money to start their business and found it difficult to get business loans. Finally, it seems that, at whatever age, women are faced with the lifelong responsibility of being the primary caregiver, whether for children, spouses, or parents. Finding the right balance between the personal and the business life remains a constant struggle.

One issue that was expressed by several of the women was a general lack of self-confidence related to starting and running a small business at an older age. Several women said they felt invisible because of their age and sometimes thought their efforts were not taken seriously by the larger business community. Despite obstacles,

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Despite the overwhelmingly positive attitude toward running a business, the women did identify some problems. These included lack of support from family and friends; lack of business skills; difficulty obtaining financing; and having to juggle business needs with family and caregiving needs. While some of the women had good support from family and friends, others said it was an uphill battle and felt they had to continually justify their actions. Most of the women, even those who had held corporate positions, felt they were poorly prepared for running a small business and that they generally learned by trial and error. All of the women I interviewed said they had used their own money to start their business and found it difficult to get business loans. Finally, it seems that, at whatever age, women are faced with the lifelong responsibility of being the primary caregiver, whether for children, spouses, or parents. Finding the right balance between the personal and the business life remains a constant struggle.

One issue that was expressed by several of the women was a general lack of self-confidence related to starting and running a small business at an older age. Several women said they felt invisible because of their age and sometimes thought their efforts were not taken seriously by the larger business community. Despite obstacles,

heir own money to start their business and found it difficult to get business loans. Finally, it seems that, at whatever age, women are faced with the lifelong responsibility of being the primary caregiver, whether for children, spouses, or parents. Finding the right balance between the personal and the business life remains a constant struggle.

One issue that was expressed by several of the women was a general lack of self-confidence related to starting and running a small business at an older age. Several women said they felt invisible because of their age and sometimes thought their efforts were not taken seriously by the larger business community. Despite obstacles, the women expressed tremendous exhilaration and satisfaction with what they were doing.

It is not surprising that these women felt a need to do something creative in mid-life, for it appears that surging creativity is a key characteristic of the aging process. Research conducted by Dean Keith Simonton, a psychologist at the University of California, Davis, revealed that creativity in adults typically peaks about 15 to 25 years into a career, and then rebounds in the retirement years. This period is characterized by the ability to reflect on previous experience, synthesize knowledge, and find new outlets for ideas and interests. This increase in creative impulse may be one of the reasons we are seeing such a surge in entrepreneurial activity among mid-life women.