U.S. start-up activity rose in 2015 with the help of more older workers becoming entrepreneurs, while fewer women and millennials are becoming new business creators, according to new data from the Kauffman Foundation.
Kauffman's analysis is one of the most comprehensive looks at start-up creators, and the annual start-up activity index rose in 2015—reversing a downward trend that started in 2010. This year's gain also marks the largest year-over-year increase from the past two decades.
The new data coupled with anecdotal evidence suggests an American recovery that is a work in progress. While prospects broadly are improving, pockets of older Americans haven't been able to re-enter the traditional workforce and have turned to entrepreneurship for their second and third acts. This group sometimes is called necessity entrepreneurs.
Older workers, aged 55 to 64 years old, comprised 25.8 percent of new entrepreneurs in 2014 compared to 14.8 percent in 1996.