Encore.org is an organization focused on encore careers, which they define as "post-midlife work or pro bono service to meet community needs". Their tag line is "second acts for the greater good".
They go on to say that encore careers combine personal fulfillment, social impact and continued income, enabling people to put their passion to work for the greater good.
Their primary target market is aging baby boomers and their goal is help this group transition to social service work as they enter the traditional retirement years.
The recently released the results of their 2014 Encore Career survey of Americans aged 50-70 there were a number of interesting findings related to small business formation by aging baby boomers:
- 25 million Americans in this age group are interested in pursuing encore careers.
- A whopping 73% of respondents who said they were interested in pursuing encore careers said they very interested (33%) or somewhat interested in starting their own encore business (40%).
- 28% of the 4.5 million Americans already in encore careers are self-employed.
- The average age the survey respondents plan to retire is close to 70. This is the average for all Americans in this age group. The average expected retirement age for those already in encore careers is 73.
While only a small percentage of those who said they are interested in starting an encore small business will do so, it's clear from this survey there will be a steady stream of new small and solopreneur encore businesses formed in the coming years.