Comments on: The Baby Boomer Path to Starting a Business http://smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html Exploring the trends driving small business Fri, 25 May 2012 17:23:00 +0000 hourly 1 http://wordpress.org/?v= By: Am I Too Old to Start a Business? | Plain Talk for Women http://smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html#comment-1263418 Am I Too Old to Start a Business? | Plain Talk for Women Sat, 14 Apr 2012 03:00:36 +0000 http://www.smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html/#comment-1263418 [...] The Baby Boomer Path to Starting a Business | – We’ve all heard the predictions. Baby boomers won’t retire — they’ll start second careers. And many of them will become entrepreneurs. What does that really [...] [...] The Baby Boomer Path to Starting a Business | – We’ve all heard the predictions. Baby boomers won’t retire — they’ll start second careers. And many of them will become entrepreneurs. What does that really [...]

]]> By: Debra Murphy http://smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html#comment-473974 Debra Murphy Sat, 09 Feb 2008 16:41:36 +0000 http://www.smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html/#comment-473974 I am a baby boomer who left my corporate job 6 years ago to start my own marketing company. Little did I know I was on the edge of a major trend, but in hindsight it was the best thing I could have done. I love what I do, have less stress, more freedom, engaging clients and a lifestyle that is far better for me and the ecology (I don't drive 40 miles to work and back every day). Because I was ahead of the curve, I have been approached by others considering this move to help them get their business and marketing plan in place while they are still working and can afford to spend a bit of money to do the job right. Then when they make the leap or get pushed into their own business, they can hit the ground running. I am a baby boomer who left my corporate job 6 years ago to start my own marketing company. Little did I know I was on the edge of a major trend, but in hindsight it was the best thing I could have done. I love what I do, have less stress, more freedom, engaging clients and a lifestyle that is far better for me and the ecology (I don’t drive 40 miles to work and back every day). Because I was ahead of the curve, I have been approached by others considering this move to help them get their business and marketing plan in place while they are still working and can afford to spend a bit of money to do the job right. Then when they make the leap or get pushed into their own business, they can hit the ground running.

]]> By: Martin Lindeskog http://smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html#comment-473465 Martin Lindeskog Sat, 09 Feb 2008 00:36:41 +0000 http://www.smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html/#comment-473465 Mark & Anita: Thanks for the information. It is a huge percentage of small businesses in the USA. It was interesting to hear about LLC. I bought a book on LLC during my time in America. Title: A Legal Road Map For Consultants. Author: Judy Gedge. http://www.gedgelaw.com/ Teresa Woolson: Home based business is a growing industry. For one example, check out Talk Fusion video email. Click on my name for more information. I think you could use this service in your Avon business. Mark & Anita: Thanks for the information. It is a huge percentage of small businesses in the USA. It was interesting to hear about LLC. I bought a book on LLC during my time in America. Title: A Legal Road Map For Consultants. Author: Judy Gedge. http://www.gedgelaw.com/

Teresa Woolson: Home based business is a growing industry. For one example, check out Talk Fusion video email. Click on my name for more information. I think you could use this service in your Avon business.

]]> By: Anita Campbell http://smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html#comment-473407 Anita Campbell Fri, 08 Feb 2008 21:25:17 +0000 http://www.smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html/#comment-473407 Hi Martin, Limited liability companies are one of the most popular forms of business entity today. Basically the LLC form lets you pass through expenses to your personal tax return, and you avoid some double taxation that might come from your company being taxed and you as the business owner being taxed. Plus, you don't have as much paperwork as with a traditional corporation, don't have to hold shareholder meetings, and so on. I like the idea of "renting" an employer. It's kind of like "reverse outsourcing." I think there's something similar here in the States, called a Professional Employer Organization (PEO). You pay XX dollars per employee per month, usually. Anita Hi Martin, Limited liability companies are one of the most popular forms of business entity today. Basically the LLC form lets you pass through expenses to your personal tax return, and you avoid some double taxation that might come from your company being taxed and you as the business owner being taxed. Plus, you don’t have as much paperwork as with a traditional corporation, don’t have to hold shareholder meetings, and so on.

I like the idea of “renting” an employer. It’s kind of like “reverse outsourcing.” I think there’s something similar here in the States, called a Professional Employer Organization (PEO). You pay XX dollars per employee per month, usually.

Anita

]]> By: Amanda http://smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html#comment-473362 Amanda Fri, 08 Feb 2008 20:07:22 +0000 http://www.smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html/#comment-473362 Teresa, Good for you! I know many people who have success with home show type businesses. Sounds like a good investment for the small upfront cost. Teresa,

Good for you! I know many people who have success with home show type businesses. Sounds like a good investment for the small upfront cost.

]]> By: Amanda http://smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html#comment-473357 Amanda Fri, 08 Feb 2008 19:58:06 +0000 http://www.smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html/#comment-473357 Mark, Wow, that's quite a number. I would never have guessed it would be as high as 85%. With the constant rising cost of living it doesn't surprise me that retiring will become a thing of the past. Not too many couples can make it just on a pension. Mark,

Wow, that’s quite a number. I would never have guessed it would be as high as 85%. With the constant rising cost of living it doesn’t surprise me that retiring will become a thing of the past. Not too many couples can make it just on a pension.

]]> By: Teresa Woolson http://smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html#comment-473299 Teresa Woolson Fri, 08 Feb 2008 15:40:49 +0000 http://www.smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html/#comment-473299 That's exactly why I started a small business with Avon Products - the opportunities are limitless and I can start part-time while still employed, gaining residual income for retirement, using products I need anyway! The relationships I'm creating are priceless. For only $10 you can start your own buisness with Avon Products!!! www.youravon.com/twoolson - check out the "opportunity" tab for yourself. That’s exactly why I started a small business with Avon Products – the opportunities are limitless and I can start part-time while still employed, gaining residual income for retirement, using products I need anyway! The relationships I’m creating are priceless. For only $10 you can start your own buisness with Avon Products!!! http://www.youravon.com/twoolson – check out the “opportunity” tab for yourself.

]]> By: Shama Hyder http://smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html#comment-473295 Shama Hyder Fri, 08 Feb 2008 15:21:46 +0000 http://www.smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html/#comment-473295 I have seen a rise in baby boomer clients in my business. Lots of them are going the entrepreneur route! I have seen a rise in baby boomer clients in my business. Lots of them are going the entrepreneur route!

]]> By: Mark http://smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html#comment-473276 Mark Fri, 08 Feb 2008 14:44:17 +0000 http://www.smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html/#comment-473276 Martin, thanks for your note. While I don't have all the statistics you asked for, I do have this bit of information: About 85 percent of all business tax returns in the U.S. are filed by businesses with no employees, according to the National Association for the Self-Employed. Martin, thanks for your note. While I don’t have all the statistics you asked for, I do have this bit of information: About 85 percent of all business tax returns in the U.S. are filed by businesses with no employees, according to the National Association for the Self-Employed.

]]> By: Martin Lindeskog http://smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html#comment-473068 Martin Lindeskog Fri, 08 Feb 2008 08:00:04 +0000 http://www.smallbiztrends.com/2008/02/the-baby-boomer-path-to-starting-a-business.html/#comment-473068 Mark Miller: How many sole proprietorship companies are there in the United States? What's the percentage of all companies? Here is Sweden many starts "enskild firma" ("individual / private firm") because it is pretty easy to start. Your organisational number is the same as your "personal number" (yy/mm/dd/+4 control numbers) and you file taxes as private person, adding a document for the business. The downside is that many people outside the regular workforce don't dare to start their own business due to the risk social benefits like work compensation, unemployment handout, pension money, etc. Our company is registered as an economic / incorporated association. You could say it is a Ltd. / Inc. light company without the huge amount of share capital, but the same security. You have a board of directors and a set up rules and regulations (constitution) for the company. The company is "open" for the public, so if someone is adhering to the rules, he / she could join the company. You put in time and money into the company. The other types of companies have certain negative aspects, e.g. a "trading company" with two co-owners there you are "loyal responsibility", so if one of owners can't pay a bill, the other person has to do it. An aktiebolag (limited company / inc.) has to have at least SEK 100,000 in share capital when you start and you can't use more than 50% of it due to accounting rules. An new interesting form between an employment and your own firm has sprung up in Sweden. You "rent" your employer and a specialized company take care of all the paperwork, paying taxes and social fees. They take a cut (a percentage around 10%) of your invoices. Here is one example: http://www.bolagsbolaget.se/ How many Limited Liability Companies do you have in America? All the Best, Martin Lindeskog - American in Spirit. Gothenburg, Sweden. Mark Miller: How many sole proprietorship companies are there in the United States? What’s the percentage of all companies? Here is Sweden many starts “enskild firma” (“individual / private firm”) because it is pretty easy to start. Your organisational number is the same as your “personal number” (yy/mm/dd/+4 control numbers) and you file taxes as private person, adding a document for the business. The downside is that many people outside the regular workforce don’t dare to start their own business due to the risk social benefits like work compensation, unemployment handout, pension money, etc.

Our company is registered as an economic / incorporated association. You could say it is a Ltd. / Inc. light company without the huge amount of share capital, but the same security. You have a board of directors and a set up rules and regulations (constitution) for the company. The company is “open” for the public, so if someone is adhering to the rules, he / she could join the company. You put in time and money into the company.

The other types of companies have certain negative aspects, e.g. a “trading company” with two co-owners there you are “loyal responsibility”, so if one of owners can’t pay a bill, the other person has to do it. An aktiebolag (limited company / inc.) has to have at least SEK 100,000 in share capital when you start and you can’t use more than 50% of it due to accounting rules.

An new interesting form between an employment and your own firm has sprung up in Sweden. You “rent” your employer and a specialized company take care of all the paperwork, paying taxes and social fees. They take a cut (a percentage around 10%) of your invoices. Here is one example: http://www.bolagsbolaget.se/

How many Limited Liability Companies do you have in America?

All the Best,

Martin Lindeskog – American in Spirit.
Gothenburg, Sweden.

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