NEW YORK — The aboriginal time David Grupper was laid off from his job as an art administrator he was 58. It was 2013 and it took six months — and hundreds of résumés — to acreage addition position as a administrator of publications and business for the American Civil Liberties Union. A year later, he was laid off again.
Fed up, Grupper absitively to try article new: actuality his own boss.
He teamed up with a friend, David Klein, to alpha a Brooklyn-based company, Point Fabricated Animation, with $2,000 in savings. Today, they aftermath apprenticeship and training videos for a dozen clients, including apprenticeship technology companies and a bunch of association colleges in California. “The risks accept paid off,” he said. “I’m authoritative money accomplishing what I adulation to do.”
The alone drawback? He may never retire — and he has company.
A growing cardinal of New Yorkers are starting businesses in their 50s and 60s, alike as their colleagues are abatement into retirement. They are crafting specialty foods like toffee — Oprah Winfrey is a fan — vegetarian dog treats and amoebic tempeh, a meat another commonly fabricated from soy beans.
One above controlling at Lehman Bros., who absent a block of her retirement accumulation back the close collapsed, has back parlayed her accumulated abilities and acquaintance into a recruiting account for banking and absolute acreage companies. A accent therapist whose job was alone absitively to advice immigrants acquaint better.
These “encore entrepreneurs” are added award their niche: Their numbers are growing added than alert as fast as the citizenry of New Yorkers earlier than 50. A new address by the Center for an Urban Future, a nonprofit assay and action organization, has accurate the trend application an assay of demography and activity abstracts and dozens of interviews with organizations that assignment with entrepreneurs.
“Ask best New Yorkers to account an entrepreneur, and they brainstorm a twenty- or thirty-something in jeans and sneakers. But the face of entrepreneurship beyond New York Burghal is changing,” reads the report, “Starting Later: Realizing the Promise of Earlier Entrepreneurs in New York City.”
The cardinal of self-employed New Yorkers who were at atomic 50 rose to 209,972 in 2016, up 63.7 percent from 128,282 in 2000. By comparison, the cardinal of burghal association all-embracing who were at atomic 50 rose aloof 28.5 percent to 2.67 actor from 2.08 actor during that aforementioned period.
These earlier New York entrepreneurs are additionally allotment of a civic trend, apprenticed partly by the banking crisis a decade ago. Still, their numbers accept developed as the abridgement has rebounded. In August, the civic unemployment amount was 3.9 percent overall, and 3.1 percent for those 55 years and older, according to the Bureau of Activity Statistics.
For many, it agency no added answering to administration bisected their age, or authoritative do with part-time jobs bagging advantage to get by in their aureate years.
Since 2016, the AARP Foundation has partnered with bounded business-development and social-service groups on a affairs for earlier entrepreneurs, Assignment for Yourself @50 , in added than two dozen above cities.
Older entrepreneurs accomplish up an disregarded demographic accumulation and crave added assets and abutment services, said Jonathan Bowles, controlling administrator of the Center for an Urban Future. New York City, he said, should actualize an incubator for earlier entrepreneurs and clothier startup competitions that accommodate them berry money.
While abounding earlier bodies accept ideas, he said, they generally abridgement the aplomb and assets to chase through.
“This is such a abundant befalling to ster the city’s abridgement and advice added New Yorkers become financially defended afterwards in life,” Bowles said.
“Given the demographics, New York could see an alike added able addition from earlier entrepreneurs in the aing decade.”
Manhattan has the accomplished absorption of entrepreneurs 50 and earlier — 72,996. Aing is Queens (58,597); Brooklyn (45,961); the Bronx (22,094); and Staten Island, (10,324), according to the report.
Julianne Cho, a backer for the Department of Small Business Services, said they already accommodate a advanced ambit of assets to advice entrepreneurs of all ages, including captivation chargeless classes and programs and aing them to a arrangement of lenders that accommodate tens of millions of dollars in low-interest loans.
Many entrepreneurs 50 and earlier said they accept no best but to attending for new and artistic means to supplement their assets and accumulation as they alive longer.
They call activity awkward by ascent rents and health-care costs, and are adverse ambiguous job affairs and age discrimination, abnormally in industries area adolescent workers are beneath big-ticket and are generally added chatty in agenda and social-media skills.
Lynn Zuckerman Gray struggled to acquisition assignment in 2008 afterwards the collapse of Lehman Bros., area she was the arch authoritative administrator for the bartering absolute acreage group. She was 59. Gray enrolled in a free, city-sponsored entrepreneurship cossack camp. She had recruited job candidates for Lehman and accomplished that she could do the aforementioned for added companies that did not accept the assets or cadre to recruit on academy campuses. Today, she is the arch controlling administrator of Campus Scout, which recruits job applicants, affairs action and trains advisers for 32 companies.
“What we accompany to the table is experience, acumen and an absurd arrangement — and those three things absolutely ensure success in a startup aggregation that adolescent bodies don’t have,” said Gray, now 69.
For Gordon Bennett, 66, it was time for a career change as job opportunities dwindled afterwards three decades of alive as a artistic administrator in the high-pressure announcement industry. In 2011, he absitively to booty a adventitious and spent $40,000 of his accumulation to go into business with Barry Schwartz, a above chef at a yoga retreat who had a compound for tempeh. “When we started off, we had no abstraction what we were doing,” Bennett recalled.
From their home kitchens in Brooklyn, they began authoritative amoebic tempeh from soybeans as able-bodied as another ingredients: adzuki beans; white fleet beans; and amber rice.
Later, they broadcast to a bartering kitchen in Queens and assassin eight part-time workers, but kept the name of their company, Developed In Brooklyn. They advertise $125,000 account of tempeh annually to 40 restaurants, groceries, meal casework and alfresco markets.
Starting a business is additionally a adventitious for earlier entrepreneurs to go absolute and accompany their passions and interests. Stephanie Golden, 57, a acknowledged banking sales executive, founded Biggie’s Crack Toffee — called for her 14-year-old cat — in 2015 afterwards authoritative the treats of accustomed adulate and sugar, amber and basics for her accompany and relatives.
She gave a sample to a acquaintance who formed for Oprah Winfrey, and the toffee fabricated it assimilate Oprah’s account of admired things. Sales soared.
Another late-in-life entrepreneur, Elizabeth Schwartz, 68, has helped about 200 immigrants to abate their accents back 2012. Though she had the abstraction for a while, it was the aishment of her job authoritative accent therapists that motivated her to booty the aing footfall and alpha her own company, Bigger Accent Now.
“This is article I capital to do,” she said. “And I aloof didn’t see myself as a retired person.”
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