There will be more older Entrepreneurs - Col. Sanders, James Dyson will be some among many

John Sperling, founder of the University of Phoenix was 65 when he founded it. Not all entrepreneurs are 20 year olds - far from it! Colonel Sanders was the same age when he founded Kentucky Fried Chicken. Momofuku Ando, who introduced the "Cup Noodle" when he was 61, was one of many older entrepreneurs around the world who have consistently created businesses. The first portable computer was introduced when Adam Osborne was 42, perhaps under 50, but far from a 20 year old.

By 2012, people over 55 will constitute 19 percent of the labor force, up from 14 percent in 2002. The AARP recently found those age 50 and above account for 40-percent of the self-employed in past years. This will grow and implies that more entrepreneurs will be over 55 in future.