| If you are considering starting a small business and you | | | | reference attesting to good character and reliability. |
| are 50 years or older, then here is a cautionary tale. | | | | These are the people most likely to consider investing |
| Many people in their early 50's today find themselves | | | | their finances and energy into a small business. They |
| out of paid employment. Some have accepted | | | | are the 'get-up-and-go' types who usually have a good |
| packages after years of hard and loyal work to a | | | | education, good thinking skills and a network of friends. |
| company while others have been 'let go' due to the | | | | Owning a small business is very different to being an |
| downturn in the global economy. Either way, we are | | | | employee of someone else. When you are a business |
| still too young not to work, yet old enough to be | | | | owner the skills you require are vastly different. The |
| cautious. The dilemma of aging in the 21st century. | | | | skill set required is very different to anything you may |
| One very disturbing fact here in Australia for this age | | | | have done before. Even if your past job involved being |
| demographic is the number of women who find | | | | in charge of a budget and managing staff, this does |
| themselves divorced and out of a job. The number of | | | | not prepare one remotely for what is required to run a |
| divorces in this age bracket are quite surprising. Many | | | | profitable small business. |
| of these women have been housewives for the past | | | | A business person needs a whole different mind set |
| 30 years and dependent on their spouses so finding a | | | | to that of an employee. A business person runs |
| job isn't easy. They are often not fit enough for some | | | | numbers for profit and loss in their head at all times |
| of the heavier and better paid cleaning work they are | | | | otherwise they lose money. If something they sell or |
| most qualified for because any skills they had prior to | | | | provide, costs them more to buy or perform than the |
| leaving the workforce is now out-dated if the job even | | | | profit they get from doing it, they are giving money |
| exists any more. | | | | away. Your time and overheads have to be paid for |
| Reskilling is the new buzz word employment agencies | | | | by the business each month and you need to get a |
| use and these employment agencies didn't even exist | | | | return on the money you have invested in that |
| when these women left the workforce. The amount | | | | business. |
| of change that has happened over the past 30 years | | | | Unfortunately, what often happens to these people is |
| has made a world many of these new job-seekers | | | | that we buy ourselves a job when we start a small |
| find bewildering. | | | | business because we haven't known about the |
| If a male is required to reskill at least he has been out | | | | different thinking required to be successful. We haven't |
| in the workforce and is familiar with the changes that | | | | usually gone out to get the reskilling that is often |
| have been implemented over time. And he also has | | | | available through community colleges, or small business |
| the advantage if he is reasonably fit and healthy, of | | | | associations. Many small business associations (SBA's) |
| being able to find a manual job on a construction site. | | | | provide mentoring programmes that are extremely |
| Usually though, they still have recent and updated skills | | | | beneficial to anyone considering starting their own small |
| that can be utilised by another employer and a recent | | | | business. |