Starting a business at any age

03/13/2014 | New York Times (tiered subscription model), The

Research from the Kauffman Foundation and LegalZoom suggests that entrepreneurs between the ages of 50 and 59 opened about one-fifth of the new businesses in 2013. These entrepreneurs may use tactics such as crowdfunding, drawing on home equity or turning to friends and family to get the money they need to start up. Bill Skees, owner of Well Read New & Used Books in Hawthorne, N.J., said he used the latter strategy, but paying back the loan is taking a while. "My family is my biggest cheerleader and has been great about it," Skees said.

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