The national average age of a small business owner is 50.3 years. But it’s important to mention that not all generations are equally enthusiastic about entrepreneurship. Gen Xers and Baby boomers seem to be the most courageous and confident to start a business.
Namely, members of Generation X (40 to 55 year-olds) manage 44% of US small businesses. Baby boomers (55 to 73 year-olds) run 41%, while Millennials (23 to 38 year-olds) run 12% of American small businesses. Only 2% of small business owners are 74 or older.