Baby boomers fueling wave of entrepreneurship - KLFY News 10

Baby boomers fueling wave of entrepreneurship

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This photo taken Oct. 3, 2013 shows James Glay poses with his collection of vintage drums in Arlington Heights, Ill. This photo taken Oct. 3, 2013 shows James Glay poses with his collection of vintage drums in Arlington Heights, Ill.

ARLINGTON HEIGHTS, Ill. (AP) - Baby boomers are fueling a wave of entrepreneurship among older Americans.

The Ewing Marion Kauffman Foundation says the share of new entrepreneurs ages 55 to 64 rose last year to nearly one in four.

Experts say many of the startups are the result of "reluctant entrepreneurs" who are creating a job for themselves because they can't find one elsewhere.

Others see a business as a way to change careers or to pursue a lifelong dream.

Sixty-four-year-old Jim Glay of Arlington Heights, Ill., started a vintage drum business after he was laid off from his sales job.

He says he's not getting rich off the move. But he says it's kept him afloat when no one would hire him. And, he says, it's kept his mind engaged.

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