According to freelancing site PeoplePerHour, there has been an 88% rise in new businesses registered on the site from those aged 55 or over in the past year.
Of those older small business owners, 64% said it was the first time they had started their own business. The top three sectors for the age group are internet-based businesses, retail and property.
When all age groups were asked why they decided to start up, 33% said they wanted a better work/life balance, 26% said they wanted to pursue their hobby, and 12% said they wanted more financial freedom.
PeoplePerHour CEO Xenios Thrasyvoulou believes its now easier than ever for people of any age to start up their own business. He said: “The key to this growing trend of new small business owners, not just among the baby boomers, but across generations, is how easy and cheap it is now to set up a business and build a client base from scratch.”