The Biggest SMB Trend - Starting At 50

The fastest growing segment of the small business market are entrepreneurs over 50 years of age. In Canada, one in four small business owners is over the age of 50 and 30% of people over 50 are entrepreneurs according to the CIBC.

These small business owners, often dubbed as 'seniorpreneurs', do not have the same needs or wants as their younger counterparts. They typically set up businesses as a lifestyle decision rather than out of necessity or to grow a large company. Most seniorpreneurs do not want rapid growth because they've recently retired and want to avoid putting in long hours.

Seniorpreneurs see starting a business as the chance to do what they've always wanted to do. They want to break free from their employee status, typically have the financial resources to do so, and want to enjoy their lives while running a small company.

While most seniorpreneurs do not run the high flying growth companies that most want to be selling to, they do represent a large and often overlooked segment of the market that could be profitable for you if you're selling to small business.