Who is more likely to start a business: a college student or an already successful businessperson? You guessed it – the worker with decades of experience.
It turns out that twice as many tech entrepreneurs create ventures in their 50s than those in their early 20s. So not only are young entrepreneurs navigating the toughest economy many of us have ever lived through, they’re also vastly outnumbered by older, more experienced competitors with more contacts and capital. This provides more reason to give all young entrepreneurs the proper encouragement and respect.
This summer, BusinessWeek set out on its annual search to find the country’s most promising young entrepreneurs. After asking readers to nominate their favorite candidates (age 25 and under running their own companies), the BusinessWeek staff sifted through the batch of a record-breaking 600 nominations and selected their 25 most impressive businesses.