Did you know that 20% of the over-50 workforce in the U.S. is self employed (have their own business)? And one-third of those workers made the transition from regular jobs to self employment after turning 50?

Shocking isn't it - when you consider a large portion of people today are in that over-50 range.

While the SBA (Small Business Administration) has noticed a growing tide of business startups within this group, the info above was discovered when AARP (American Association of Retired Persons) commissioned a study by the RAND Corporation. That report was released in 2007. And since then, more and more of that over-50 group is opting for starting up their own biz. Rather than heading for the rocking chair.

Why is it likely this age group will create business success, when start-ups have usually been the realm of the 20-40 somethings?

For one thing, if you're in this group you probably have great work ethics. You understand the importance of doing a good job and follow-thru. And usually understand, clearly, what an important part loyalty plays when it comes to customers. Plus, the value and importance of good customer service.

Move over Sergei Brinn (co-founder Google) and Mark Zuckenberg (founder of FaceBook).

5 Important Reasons Why the 50+ age group has a better chance of creating success from the outset:

1) While it's true the younger crowd has "all the time in the world" to make their biz work and profit, and can always go back to a 9-5 job if it doesn't, this group doesn't have that luxury. And will work more diligently, from the outset, to create success.

2) The 50+ group is generally willing to get the education needed, even learn technical things like properly using a computer, in order to succeed. In short, they aren't embarrassed to make mistakes on the way to learning what they need to know.

3) At this stage of life, the 50+ group will likely have a greater ability to obtain funding through personal loans, have larger savings or investments to delve into, than the younger crowd.

4) Their business ideas are generally borne of personal necessity or needs they've recognized. In short these business ideas often have a ready-made market of customers, who want, need and can afford those products or services.

5) Add to that, they bring many solid years of experience to most businesses they start. And, often, tons of business contacts and/or connections. People they can call upon for help, financing or to sell to.

All these things go a long way to helping create success. Even for those with no business experience.

Some important Tips for 50+ retirees thinking about starting a biz: