Startups

Keep up to date via our blog on current news and trends affecting start-ups, with advice, tips and inspiration...

View by category:

Are you ever too old to launch a business?

15th September 2017

Quite frankly, it is never too late to start a business but starting up on your own is not easy. There is no room for rose-tinted glasses and it won’t be a success unless you are willing to give it your all. If you are considering taking the plunge later in life with a new venture you need to consider at what level you are prepared to gamble financially.

There are various benefits to starting a business in your sixties not least the inheritance tax benefit of leaving business shares to loved ones. There is also the benefit of confidence and life experience, the intuition of knowing when something is working and when it isn’t as well as the ability to help your people when they struggle. That said it is always worth being cautious too because launching your own business is always a gamble, however confident, motivated or commercially savvy you are. This is where doing your market research comes in because even at this age, we don’t know it all!

The fact is, 90% of UK-based startups fail in their first year. However, this is usually because startups move too quickly and don’t see the risks until it is too late. People need to accurately model and forecast their business ideas over three years, before they spend their hard-earned savings.

If you’re seriously thinking of launching a business later in life but you are not an experienced entrepreneur, get some support and the right advice first. If you use a free business-modelling tool like The Foundation offers you can model your ideas up front and risk-free to see if they have legs before you spend any money. Then the world is your oyster!

share this article:

close article

NEWS

The Brand Foundation is often mentioned in press articles where comment relating to startups and entrepreneurs is needed; keep up to date with the latest news and features...

View by category:
  • A journey into intrapreneurship and disruption with Jerry Brand

    Think Tank - Book Your Tickets Here

    24th March 2017
  • Britain’s startup community reacts to Theresa May’s plans to trigger Article 50 next week

    Elite Business

    21st March 2017
  • How to improve your company's cash flow - and avoid going bust

    Management Today

    17th March 2017
  • How to Bounce Back from a Business Failure

    Natwest Content Live

    13th March 2017
  • How to be a happy entrepreneur

    Virgin.com

    27th February 2017
  • Jerry Brand launches FREE business modelling tool for entrepreneurs JERRY BRAND LAUNCHES FREE BUSINESS MODELLING TOOL FOR ENTREPRENEURS

    Just Entrepreneurs News Coverage

    21st February 2017
  • Jerry Brand Launches Free Business Tool fro Entrepreneurs

    Just Entrepreneurs

    21st February 2017
  • Deal with the objection: You’re a startup, so can we have a better deal?

    Business Zone News Coverage

    31st January 2017