Current studies show that entrepreneurship among individuals over fifty are at an all-time high. An article in Small Business Trends published March 18, 2019 by Matt Mansfield states the percent of new businesses started by individuals over fifty comprise 57% of allstartups.
Here are some of the reasons you may want to consider a sideline business:
- Need for additional income to create economic well-being
- Creates a sense of purpose
- Increases social interaction and integration
- Increases physical well being
- Desire to follow a passion
Like any undertaking, there are advantages and disadvantages to a sideline business. A recent article examines the pros and cons. Here is a list of sideline businesses featured in an Entrepreneur.com article to use as an idea resource.