The Tribune

By SIMON COOPER Res Socius ALTHOUGH I'm not near retiring by a long shot, I was encouraged by an article I read in USA Today. The piece analysed the demographic spread of start-up entrepreneurs in the US, and came up with conclusions that few expected. The Kauffman Foundation, which is dedicated to the pursuit of entrepreneurship, has revealed that the 55-64 year-old age group is now most active, accounting for 23 per cent of all new start-ups (compared to 15 per cent in 1996). Meanwhile, the 20-34 year-old age group has fallen to the bottom of the pile. While the Foundation thinks this has to do with baby boomers falling out of fashion in the labour market, and getting into action elsewhere, it believes there is more to it than just that. It seems that people tend to stop experimenting at the age of 30, when they settle down to raise their families and generally become more responsible. Flash forward to age 55. The kids are grown up and may have left the nest. The mortgage is paid for, yet the brain is still in top gear. Boomers have the advantage of experience, expertise and spare cash itching for release. Add in the rebirth of imagination, freed from the fetters of family responsibility, and you have a powerful cocktail for success indeed. These baby boomers are also savvier and street-wiser after decades in the real world. If you like, they have a well-developed sense of smell for profit, too. But there's even more to this than that. The urge to stamp oneself on the environment and make a contribution is innate in all of us. As society tips the baby boomers out with the bath water, they are falling neatly on their feet. Personally, I'm not surprised at all, although I must admit I never thought about things precisely that way before. In my experience as a business broker, I've seen more mature buyers succeed with the businesses I sold them than youngsters. I guess they have the perfect balance of confidence and enthusiasm, and that is a hard one to beat on any day. I am writing this one with the retirees who come to settle in our islands particularly in mind. The Bahamas is desperately short of business talent, and this is hitting our employment levels hard. If you have reserves of entrepreneurial energy seeking a new home, then 'double welcome' to our nation - we can't wait to see you succeed. There are plenty of businesses here requiring mature owners to take them to the next level. I have many of these on my books. Every firm I take on has potential to succeed, and thereby help build the next generation through creating jobs and wealth. That's quite some legacy to leave behind. NB: Simon Cooper is a founding partner of Res Socius, a business brokerage firm authorized by the Bahamas Investment Authority that facilitates the sale and purchase of businesses. Contact 376-1256 or visit www.ressocius.com.