A local software company has won the 2010 Microsoft Partner of the Year award.
Avalara, Inc., which was founded in 2004 by islanders Rory Rawlings, Jared Vogt and Scott McFarlane, provides an online database that calculates sales tax information for businesses that deal with multiple states or taxing jurisdictions.
Avalara was chosen out of an international field of nearly 3,000 top Microsoft partners because “Avalara has consistently delivered market-leading customer solutions built on Microsoft technology,” according to the award announcement.
“We’re still not a huge company among all the ones considered,” said Avalara’s Vice President of Marketing Bryan Wiggins. “It’s a great thing for us to be chosen.”
Avalara’s company headquarters are located at the corner of Ericksen Avenue and Wyatt Way. Avalara has 195 employees, 86 of whom work in the Bainbridge office; 40 are island residents.
The company has opened offices throughout the country and internationally, including Irvine, Calif., San Diego, Batavia, Ill., Detroit, Falls Church, Va.; Atlanta and Pune, India.
In its six years of operation, Wiggins said, the company has expanded from 15 to 20 customers, most of which were island businesses, to more than 25,000 customers worldwide. Wiggins attributed the company’s rise to its ability to keep the process simple.
“We’ve become much bigger,” he said. “It’s fueled by the ability to integrate our program into software systems that businesses use. Every year we’ve rolled out new integrations.”
Despite its expansion, the program remains affordable for the average business, Wiggins said. Prices for the service depends on the number of transactions. An individual transaction only costs a couple pennies, and the more businesses use the program the less each transaction costs.
“The primary object of our service is to make enterprise level technology available to even the smallest companies,” Wiggins said.
The cheapest plan is $100 per year for a couple hundred transactions. Wiggins said clients vary from this level all the way up to millions annually.
The program is primarily designed for businesses that deal in multiple states or counties. The United States features more than 15,000 jurisdictions and keeping up with all the numbers, especially for a small business, can be, well, taxing. Doing the work manually would require awareness of any county, state or city taxes which become attached to an item depending on the buyer’s address.
Avalara’s software saves businesses a lot of time, Wiggins said.
“It’s a cumbersome process that’s difficult for businesses to stay up on, so they look to providers like us to handle it,” Wiggins said.
Avalara is a Certified Service Provider member of the Streamlined Sales and Use Tax Agreement, a national venture to simplify the process of collecting tax in multiple jurisdictions.
Avalara has grown annually since its creation and the company has ,more growth plans, which could lead to more employees for its Bainbridge office. The current space is pretty crammed, and the company is looking for a new headquarters building on Bainbridge.
“Our headquarters are going to remain here as will most of our people,” Wiggins said.
Study indicates state’s economy would grow $3.3 billion
Economic growth, new jobs would result from regional climate plan
OLYMPIA – An independent economic analysis indicates that Washington's economy would grow by $3.3 billion and add 19,300 jobs if a regional plan to mitigate climate change and build a clean-energy economy goes into effect as designed starting in 2012.
The Washington Department of Ecology (Ecology) and the non-governmental Energy Foundation jointly commissioned the study to better understand the potential economic implications of a regional plan designed by the Western Climate Initiative (WCI).
The WCI is a coalition of seven U.S. states and four Canadian provinces working together to mitigate climate change, spur investment in clean-energy technologies that create green jobs and reduce dependence on foreign oil. Its regional plan would reduce climate-changing greenhouse gas emissions to 15 percent below 2005 levels by 2020.
The Washington state economic report — conducted by the economic consulting group, ECONorthwest — is based on an updated economic modeling analysis released today by the WCI. See details of the WCI analysis.
“Both of these reports offer fresh and compelling evidence that reducing greenhouse gas emissions and building a clean-energy economy go hand-in-hand,” said Gov. Chris Gregoire. “They show that acknowledging the realities of a carbon-constrained world and seizing opportunities in the rapidly growing green economy will help mitigate climate change and create thousands of new jobs.”
“Here in Washington, we are already reaping the rewards of the early actions we have taken,” Gregoire added. “In March, state economists reported that Washington is home to over 99,000 green jobs. This is evidence that businesses here are already forward-thinking, and that Washington can help lead the nation in sustainable methods and technology.”
(Note: A link to related Employment Security Department news release is provided at end of this section.)
Other jurisdictions are also realizing the positive economic benefits of climate mitigation and clean-energy efforts.
In the U.S., the seven WCI Partner states comprise 20 percent of the U.S. economy, yet they garnered 60 percent of venture capital investments directed toward clean-technology businesses between 2006 and 2008.
Jobs tied directly or indirectly to British Columbia’s green economy are forecast to increase from nearly 166,000 jobs in 2008 to more than 225,000 jobs in 2020. (See British Columbia's Green Economy)
The Regional Greenhouse Gas Initiative (RGGI) – a cooperative venture of 10 Northeast and Mid-Atlantic states – realized nearly $88 million through a market-based carbon reduction program for investment in clean energy resources in its first quarterly auction of carbon dioxide allowances.
“State by state, region by region, all the economic analyses point in the same direction: government policies that foster greenhouse gas reductions have multiple benefits,” said Janice Adair, climate policy advisor to state Ecology Director Ted Sturdevant. “They help create jobs, improve efficiencies so we spend less on energy, and reduce the impacts of climate change. Our new economic assessment of the Western regional carbon market on Washington’s economy affirms this trend.”
If fully implemented in 2015, the plan developed by WCI would cover nearly 90 percent of the region’s greenhouse gases. The new Washington state economic report identifies three primary areas of economic growth associated with the regional strategy:
Benefits of investing in energy efficiency: Businesses that invest in energy efficient equipment will see an increase in their economic output over time. Similarly, households that purchase energy efficient equipment will realize lower energy bills and consequently have more money to spend on other goods and services.
Benefits of selling energy-efficient equipment: Suppliers of energy efficient equipment (contractors, construction, retail trade sectors) will benefit from increased spending on energy-efficient equipment.
Up-front investments will pay off in future savings: Investments by households and businesses in energy-efficiency equipment will be more than offset by energy cost savings in future years.
The Washington economic analysis indicates that consumer and business spending on energy efficiency will create new jobs in 30 of 38 business sectors. Examples include: agriculture, forestry, fishing and hunting; construction; food manufacturing; wood product manufacturing; paper manufacturing; printing; machinery manufacturing; electrical equipment, appliance and component manufacturing; furniture manufacturing; wholesale trade; transportation and warehousing; and retail trade.
Business sectors where consumers and businesses are likely to have less money to spend include metal manufacturing, information, finance and insurance, real estate rental and leasing; professional and technical services; and administrative services.
Ecology’s Adair said, “The smart, innovative businesses in these sectors can seize the opportunity to market their services to businesses in energy-efficiency growth sectors, and our state agencies and policy makers can help them."
The economic analysis is not intended to predict the future, but rather to help policy makers, businesses and individuals make informed choices regarding the clean-energy economy.
New York Senator Schumer Conducts Press Conference to Discuss Possible Dept. of Homeland Security Funding for Increased Security Measures at NYC Area Airports
Schumer Says $50M Funding Exists for Pilot Program to Incorporate New Scanning Device at Airports; Urges DHS to Consider Technology Such as Defense ID Syste
PORT TOWNSEND, Wash., Jun 28, 2010 (BUSINESS WIRE) -- New York Senator Charles E. Schumer conducted a press conference today at the Woodbury, NY office of Intellicheck Mobilisa, Inc. a global leader in access control and wireless security systems, to discuss possible funding by the US Department of Homeland Security for increased security measures at New York City area airports.
According to Sen. Schumer, $50 million in funding exists for a pilot program to incorporate a new scanning device at airports. He has sent a letter to Janet Napolitano, Secretary of the Department of Homeland Security, urging the use of these funds to implement technology such as the Defense ID System, which can cross-check passengers with terror watch lists, weed out fake IDs, and track visa overstays.
In Port Townsend, Washington, the county-owned airport may soon get a $100,000 solar array for free courtesy of solar firm Power Trip Energy and a consortium of solar interests called the Jefferson Solar Group.
The 16-kilowatt array will occupy a 100-square-foot parcel near the navigational beacon at the Jefferson County International Airport, on the airport’s western perimeter, providing about 16,000 kilowatt-hours of electricity to run the beacon and landing lights.
The Jefferson Solar Group, contracting the installation through Port Townsend-based Power Trip Energy, a design/build solar firm, will capitalize on Washington State’s newly enacted SB 6170, effective July 1, 2009, which provides up to $1.08 per kilowatt-hour for renewable solar energy, for a maximum of $5,000 per year, with the customer-generator retaining ownership of the renewable energy credits, or RECs.
The state also offers renewable energy sales and use tax exemptions, and Puget Sound Energy also offers its Renewable Energy Advantage Program, paying up to $0.54 cents per kilowatt-hour for panels manufactured within the state. Combine this with the 30-percent federal incentive, under the American Recovery and Reinvestment Act, and the Jefferson Solar Group – a consortium of like-minded solar energy enthusiasts and entrepreneurs – admits it will get “a fair return on investment” from the giveaway.
The public/private sector installation will produce enough to electricity to power a very large single residence, which is the same as removing 2.2 cars from the road or planting 295 seedlings and letting them grow for 10 years.
Would-be developers are waiting for approval by the Federal Aviation Administration, or FAA, but once that is granted, the publicly owned airport could expect construction to begin as early as March of 2010.
Funding will come from the individual participants of the 12-member Jefferson Solar Group, and the array – which will deliver electricity to the airport at less than the normal retail rate now charged by Puget Sound Energy – will operate on a lease agreement for 10 years, after which the county could purchase the system for about 30 percent of its original cost, or about $33,000. The system would then produce free electricity (less maintenance) for another 20 years or so.
Most importantly, this first-of-its-kind agreement in the state will reduce the port’s carbon emissions, which – as part of the Jefferson Climate Action Group, or JeffersonCAN – the port has committed itself to doing.
JeffersonCAN goals include reducing greenhouse gas emissions like carbon dioxide to 80 percent less than 1990 levels by 2050, a goal supported by President Obama and likely to be adopted as part of a climate bill in the 111th Congress.
According to the IPCC, greenhouse gas emissions (in million metric tons) were 5,257.3 in 1990, rising to 6,087.5 tons in 2007.
The advantage of the lease agreement is that public entities like the Port Townsend Authority are unable to take advantage of some tax credits.
Jefferson County Americorps volunteers Leora Stein and Cali Kack joined public policy advocates from around the State to witness Governor Gregoire sign an Executive Order authorizing food policy councils that would focus on healthy local food work. Statewide we loose 70,000 acres of prime farmland to development, the average age of our state farmers is over 57 and over 25% of K-12 youth are overweight and at risk of diabetes. This is the first generation in America LESS healthy than their parents! The local Food network meets last Thursday of each month at 10AM at the OlyCap offices in Port Townsend.
The Washington State Department of Commerce announced its 2010 “Excellence in Downtown Revitalization” t in Port Townsend, WA.
Outstanding Achievement in Promotion was awarded to the
Port Townsend Main Street Program for their “Meet Me in Port Townsend” Campaign.
“These award winners represent the hard work taking place across the state to strengthen our downtown communities,” said Rogers Weed, director of the Department of Commerce. “I congratulate them on their dedication and commitment to creating vibrant communities and growing Washington’s economy.”
In 2002-2005 Harv Singh worked with WSU to triple the sales of the Port Townsend Farmers Market- now he is a local hero to the Wall Street Journal- congrats Harv!!!
Whole Foods Turns to a Full-Time Forager to Unearth New Products; Bringing Mushrooms to Light
When Harvindar Singh first visited the Emeryville warehouse of BTTR Ventures, the urban-farming start-up didn't have a product so much as a vision— mushrooms grown in recycled coffee grounds.
Just more than a year later, BTTR mushrooms and growing kits are featured on the shelves of 30 Whole Foods Market Inc. stores in Northern California and a wider rollout is in the works.
Whole Foods' Forager
Ariel Zambelich for The Wall Street Journal
Whole Foods Market Local Product Forager Harvindar Singh smelled a package of Ritual Coffee, one of many brands of local coffee the chain carries
Mr. Singh is Whole Foods' only full-time food forager, scouring the Bay Area for locally made products that are often little-known—and potentially profitable. He helps bring new items to the chain's 284 stores nationwide in part by lending money to producers that need funds to ramp up production.
"My job is to go out there and find the best local products," said Mr. Singh, 39 years old. "I like going to obscure little towns that may have 10 vendors and you always find one [with potential]."
That Whole Foods has a full-time Bay Area food scout underlines how national food trends often start in the region, which is a birthplace of the organic food movement.
Other supermarket chains, such as Save Mart Supermarkets and Safeway Inc., also say the area is a key source for new products.
Safeway, for instance, says roughly 45% of its produce in California comes from local sources. The supermarket launched a program last year to increase its focus on locally grown produce, which helps more growers meet the standards to supply Safeway stores.
Overall, sales for Northern California's natural-products industry, which includes organic, specialty and gourmet products, rose 11% to $249.2 million for the 12 months ended in April, nearly double the 6% growth rate nationally and ahead of every region except the Northeast, according to market research firm Spins.
Whole Foods, which launched its $10 million low-interest loan program to help local farmers and producers in 2006, has lent $565,000 to 10 Bay Area companies, with an additional $220,000 in the pipeline for four more producers in the region. That ties the Bay Area with the Rocky Mountain and Southwest regions for the biggest chunk of the Austin, Texas, company's program, ahead of nine other U.S. regions.
"The two areas we look at to see the newest, hottest things are New York and the Bay Area, but for our customer, San Francisco Bay Area is number one, because there's such a passion for natural and organic productions and new ideas," said Cathy Strange, Whole Foods' national cheese buyer.
Mr. Singh first visited BTTR in March 2009, and this year he helped the mushroom producer secure a $25,000 loan to double the size of its warehouse. BTTR now sells 300 pounds of mushrooms a week to Whole Foods, a far cry from its first sale—3.14 pounds of mushrooms in an old asparagus box sold to the Berkeley Whole Foods in October.
The loan was "the investment we needed," said 23-year-old Nikhil Arora, co-founder of BTTR. "Our goal is to pay it back in a year and a half."
Still, some Bay Area food producers say no when Whole Foods comes knocking. In 2008, Blue Bottle Coffee in Oakland declined Whole Foods' interest in carrying its shade-grown beans. Blue Bottle founder James Freeman said it came down to shelf life—he won't sell coffee that is more than 48 hours out of the roaster, and that was something he would have to forgo on a Whole Foods shelf.
"You can choose to have a really tight control of your product, or you can give that up when you decide to sell to Whole Foods," Mr. Freeman said.
Being carried nationally by Whole Foods isn't a good fit for all food producers, Mr. Singh acknowledged. The native of Fiji, who previously started farmers' markets in Port Townsend, Wash., and San Ramon, joined Whole Foods in 2005 as a marketing and community relations coordinator for a Redwood City store before becoming a forager in 2007.
Among his biggest local finds was vegan Bolani flatbread, which he brought onto shelves in 2007 and helped go national. Another hit is Kombucha, a fermented tea Whole Foods began carrying on tap in 2009. Mr. Singh said he first saw the tea on tap in a café in Oakland.
Mr. Singh predicts pastured eggs, which come from chickens that are able to graze outdoors, rather than just indoors like some free-range chickens, will take off next.
He is also helping Whole Foods roll out a new super-local food store in Mill Valley, slated to open June 9. In March, he attracted 150 food producers to a symposium in Mill Valley where he led workshops on packaging, labeling and how to meet Whole Foods standards.
Mr. Singh says about 50 to 60 of the attendees will have their products carried in the new store, which will source more items from local producers than other stores. "We are blessed in Northern California, the capital of the local food movement, to have an abundance of local growers, producers and artisans to work with," he said.
About a year ago, there was a lot of talk about “let’s see this recession as an opportunity!” And, as much of a hackneyed phrase as that is, it does make some sense. When the going gets tough, the best take advantage of it to increase their market share.
When you’re a business, that’s about using cash reserves to purchase undervalued assets. When you’re a government, that can mean using a crisis to change policies that have long been viewed as less friendly to economic development but were always politically untouchable during better times. Some people might say that the recent Seattle head tax repeal was just such an example. But why haven’t I heard anyone talking about taking down one of the Big Washington Economic Development Barriers?
If you work at all in economic development in this state, you hear two complaints over and over again: 1) No TIF: Tax Increment Financing is everyone’s favorite “build now, pay later” device. 2) No Lending of Credit: Lots of other states attract new businesses the old fashion way – giving them huge bags of cash.
I know that these are both things that are currently “unconstitutional” and that voters have turned down changes to in the past, but the whole point is that these are uncommon times. When I-1033 goes down in over half the state’s counties, you might get the sense that people are seeing that government can be part of the solution, not just the problem. When used right, these are tools that help create jobs, and that’s what we need more than anything else right now.
So, who’s out there that’s going to take up the flag and lead us into battle?
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The number of self-employed Americans rose to 8.9 million in December 2009, up from 8.7 million a year earlier, according to BLS data provided by outplacement firm Challenger Gray & Christmas. Self-employment among those 55 to 64 hit nearly 2 million, a 5% rise from the prior year. Self-employment for those 65 and older hit 939,000 — a 29% increase.
Folks 55 to 64 represented the second-largest jump in entrepreneurial activity by age (just behind 35- to 44-year-olds) from 2008 to 2009, according to an Index of Entrepreneurial Activity released last week by entrepreneur-focused group Ewing Marion Kauffman Foundation.
USA Today
Ma 25, 2010
65-year-old Patrick Althizer has veered off to a new career path: leading shutterbugs through the stunning waterfall areas of Yosemite National Park.
YOSEMITE, Calif. — After toiling for three decades in finance, it wouldn't be surprising if 65-year-old Patrick Althizer kicked back and lived off his savings and Social Security.
But with a spirit not ready for sedentary retirement — as well as college costs for two daughters — he veered off to a new career path: leading shutterbugs through the stunning waterfall areas of Yosemite National Park.
Althizer has embraced his new vocation with enthusiasm. He plastered decals that promote his firm, Photo Safari Yosemite, on the windows of his white Jeep Cherokee, networked with the folks who run local tourist attractions, and at his daughters' behest, joined Facebook to promote his firm, which takes tourists to the best photo-taking spots in the national park.
"I was a Navy photographer when I was younger — when I was in my twenties — (then) I got diverted into a finance career for about 30 years," he says. "When I was 64, I got out of the finance business and tried to figure out what I wanted to do when I grew up."
His answer: start his own business by pairing two of his passions — photography and exploring.
He joins millions of other Americans in ramping up a business at an age when many slow down. Folks 55 to 64 represented the second-largest jump in entrepreneurial activity by age (just behind 35- to 44-year-olds) from 2008 to 2009, according to an Index of Entrepreneurial Activity released last week by entrepreneur-focused group Ewing Marion Kauffman Foundation.
Other studies, such as a recent Global Entrepreneurship Monitor report, as well as data from the Bureau of Labor Statistics (BLS), also show an uptick in older folks becoming their own bosses.
The number of self-employed Americans rose to 8.9 million in December 2009, up from 8.7 million a year earlier, according to BLS data provided by outplacement firm Challenger Gray & Christmas. Self-employment among those 55 to 64 hit nearly 2 million, a 5% rise from the prior year. Self-employment for those 65 and older hit 939,000 — a 29% increase.
The rise has been fueled by factors such as the tidal wave of Baby Boomers who don't want to stop working, economic necessity triggered by the recession, and the rise in longevity, says Dane Stangler, a research manager at Kauffman.
"Americans are not only living longer but also living healthier longer, suggesting that those entrepreneurial 60-year-olds could be 2020's entrepreneurial 70-year-olds," he says.
Economic impetus
Slightly more than 2 million people 55 and older were looking for jobs in April — 52,000 more than in March, according to BLS data provided by the AARP Public Policy Institute. The unemployment rate for that age group, 7%, is lower than the 9.9% national average, but the demographic is often out of work for longer periods. (The duration of unemployment for older jobseekers rose from 38.4 weeks in March to 42.9 weeks in April.)
Nearly six in 10 older unemployed workers had been out of work for 27 or more weeks in April. At the start of the recession in December 2007, 23% of this group were out of work for that length of time.
A third of workers age 55 and older who were laid off in the past 12 months and did not find a job said they were considering starting their own business, according to a CareerBuilder.com survey taken in February and March. (CareerBuilder is jointly owned by Tribune, McClatchy, Microsoft and USA TODAY parent Gannett.)
Bryan Goodman, 53, decided to focus full time on his big-and-tall-man's clothing business after he lost his job as a manager at a Boston car dealership.
"For many years, I had been selling things causally on eBay, but when I got laid off and couldn't get another job, I decided that ... I could do this as a business," he says.
Economics also were a factor for 69-year-old Alan Friedman, to think big — very big — about his entrepreneurial route.
For decades, Friedman sold high-end antiques, but with the downturn, and some of his clients' tastes changing to more contemporary furniture, he decided to start a new venture called Transitions in Design in West Palm Beach, Fla.
"It's very difficult in the economy today, especially dealing in high-priced merchandise," he says. "In the last few years, I lost a good portion of my customer base."
He began to replicate iron furniture from the 1950s, which he was able to sell at more affordable prices. He also tapped into his own creativity and began to design large-scale bronze sculptures for individuals as well as municipalities.
Business hasn't been brisk, but Friedman says he's going to keep at it. "I need to make a living."
Non-economic factors play roles, too
Businesses born from older folks come about for many reasons. Sometimes, it's as simple as a major birthday lighting the entrepreneurial spark. Other times, it's serial entrepreneurs who can't squelch the urge to keep creating new firms.
"These milestones do hit people squarely over the head — it's the workforce equivalent of a midlife crisis," says Robert Litan, Kauffman vice president for research and policy. "They force you to ask the question 'What am I going to do for the rest of my life?' "
The idea of starting a new business can also come after a chance meeting with someone who has an interesting job or pastime.
A customer who bought a slew of dock lines from boating store West Marine inadvertently steered Thomas and Connie Betts toward a new profession. Thomas, an operations manager for the retailer, asked about the large purchase — and the customer said he was using the rope for his alpaca ranch.
"I said, 'What's an alpaca?' " recounts Brett.
But the more he learned about the mild-mannered animal, and the value of its soft fleece, the more interested he became.
He and Connie, ages 55 and 56 respectively, researched the animals and took classes on raising alpacas. They moved to the Hood River, Ore., area, where they had yearned to live, and started Cascade Alpacas of Oregon.
"It's been a lot of fun," says Connie. "We love our alpacas."
Not always smooth sailing
The Bettses are enjoying their business — and making a profit — but it took extensive effort to get to that point. Tom and Connie continued to work at different jobs so they had funding as they got the ranch going, and Connie still holds down a separate full-time job so they have extra money coming in.
"It sounds really simple to say 'I'm going to start my own business,' " says Deborah Russell, AARP director of workforce issues. "But it's a huge undertaking, and it needs to be taken seriously."
Russell says that making a vocation change at midlife comes with decision-making stress such as how to fund a venture without risking a retirement nest egg.
Entrepreneurs in their twenties and thirties have decades to make up lost money if a firm fails. But older owners simply have less time.
The Bettses said they mapped out several "worst-case scenario" situations when they decided to go ahead with the alpaca ranch. "With alpacas, it's not a get-rich-quick scheme. It can take years" to make a profit, says Connie. "We said, 'What's the worst that can happen, and can we live with that?' "
EBay seller Goodman says the financing issue has also been top of mind. He's dramatically cut back on living expenses to fund his venture, but is now thinking "Do I use my retirement money?"
The hurdles for older workers also go beyond the potential of losing retirement savings.
"Facility with technology is a big barrier for a lot of older people," says Kauffman's Litan.
Another obstacle for most older people is that they just don't have the stamina that they once had, Litan says. "It's true," says the 60-year-old. "I know it myself."
Some advantages exist
Yet, for all the pitfalls, signs indicate this is a good time for a more mature person to become a business owner.
Those seeking counseling can now choose from numerous online resources that target older entrepreneurs, such as the Small Business Administration's "50+" page (sba.gov/50plusentrepreneur) and the "Start Your Own Business" section of RetiredBrains.com, a site started by 75-year-old Arthur Koff when he was 68.
A plethora of information exists that small-business owners can glean from their peers — often by logging onto social-networking sites.
Many older entrepreneurs also have the advantage of having non-technology-related networks that were built up through years of face-to-face interactions, says Litan.
"Older people have a deeper social network than kids that just have 400 friends (online)," he says. "They have a real, live Facebook — these are people they can count on."
In addition, maturity comes with another big advantage: experience.
Nearly all the company founders surveyed in a Kauffman study released last fall said prior work experience was an important success factor.
Patty Tobin, 56, says her work in the asbestos removal field, as well as her time as a marketing consultant, greatly helped her in her jewelry venture.
"I know how to deal with banks, how to read a lease, how to hire people and how to manage people," she says.
She also says that a positive attitude — and a willingness to keep learning — have also been large factors in her entrepreneurial success.
Tobin says she "has no formal training in design or fashion," but once the environmental contracting firm she co-owned closed a few years ago, she began to experiment with jewelry design.
She first sold her wares to a boutique in her local Albany, N.Y., area, and has slowly expanded her business. Last fall, she opened a boutique in Manhattan, and a few weeks ago, she introduced her merchandise to buyers in Canada.
"You can teach an old dog new tricks if they're willing to learn, and I am," she says.
Self-employment by age
Adults age 55 and older have embraced entrepreneurship.
In the recent Kauffman report, Where Will the Jobs Come From?, authors Litan and Stangler analyze Census data, which reveals that two-thirds of new job growth comes from companies that are between one and five years old. Job creation comes from three sources: startups; young firms, ages one to five; and the largest and oldest companies. Taking into account the “churn” mentioned section above among the youngest companies, i.e., job creation and destruction, as well as the dynamic interaction between the youngest and oldest firms, they reach the following conclusion:
“…new and young companies and the entrepreneurs that create them are the engines of job creation and eventual economic recovery. The distinction of firm age, not necessarily size, as the driver of job creation has many implications, particularly for policymakers who are focusing on small business as the answer to a dire employment situation.”
Katherine Baril
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