Executive Director's Message

Juan A. Navejar Jr

This month I turn a year older and I have come to the realization that I am in the middle age category. In a short 20 years or so it will be time for retirement. I should not think that Uncle Sam will be taking care of me when I get into my elderly years, so I should be thinking of maybe of how I can possible start my own business in my retirement years.

Today, more than 60 percent of all jobs created in the U.S. are small businesses with many of our retirees opening up shops to help them sustain their little assistance from the government.

The difference from a young business owner to a matured one can differ in the way we think about the business market. For one, most retirees are in a much better financial state than a young business owner. We would think the older business owner has some sort of retirement package or nest egg set aside. Most are all ready homeowners without a mortgage and are more flexible financially.

Having a “been there done that” attitude, seniors are more apt to know what works and what won’t work when starting a business. The younger business owner may be more prone to think outside the box and take a risk. A senior will think practical like opening a small business not to far from home; perhaps if they own land, maybe a day-hunt with a campsite for hunter. The younger thinks more of a gourmet bait-shop with a coffee stand. The senior will most likely open something he saw was successful when he was employed somewhere or maybe something related to a former career. While the younger will be more computer savvy and use the Internet for his success.

As we age, we tend to slow down, so the older business owner will most definitely open a business with hours flexible to his schedule; while the younger will have set hours for his business.

But, no matter the age starting a business is a challenge. It takes financial stability, commitment, a competitive edge and some kind of know-how. We are fortunate today to have assistance from agencies right here in our own backyards to help us get started. The Small Business Development Center, the Small Business Administration are some good resources to help us out no matter our age. A business success is not an overnight success. There will be some failures, setbacks and hardships at times. But in the end, if all goes well for you, the dividends will be great no matter the age.