America is the land of opportunity, and these opportunities emerge in an endless variety of ways to work and make money. According to the U.S. Chamber of Commerce, about 670,000 businesses open in the U.S. each year, ranging from brick-and-mortar locations to remote startups. The US thrives on small businesses, which make up a majority of our economic landscape. Although traditionally there’s a stereotype of the young entrepreneur, which leads to many believing that ideas come from the youth, the fact of the matter is that years of real-life, professional experience can pave the way for the “next big thing.”
In fact, the Association for Entrepreneurship reports that freedom and passion outweigh financial motivations for small business owners, and over half stated the main reason they started a business was to gain control over their careers and be their own bosses.
So, does age matter in this vast, entrepreneurial landscape? Ooma, a business phone services provider, analyzed Census Bureau data to determine where small business owners are the oldest and youngest on average across the country. Here’s what they found.
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.How old is the average business owner in the US?
Ooma’s study found that the average age of a small-to-medium business owner in the United States is 54 years old, ranging from 49 years old in Provo, UT, to about 59 years old in Santa Fe, NM. By definition, this qualifies the average business owners across all 50 states as “middle-aged,” challenging the stereotype of “young entrepreneur.”
Furthermore, a separate Harvard study found that most successful founders averaged around 40 when they began, and recent research found that a 60-year-old starting a new business is three times more likely to succeed than someone in their 30s. Data shows time and time again that age and experience, both in life and in work, are assets, not hindrances to being an entrepreneur.
Establishing a successful business often requires skills, resources, and connections, which take time to cultivate– something established professionals are more equipped to have. Experience is priceless too; understanding the industry and knowing how to navigate the pain points and pitfalls can help a small to medium business venture thrive.
And while younger entrepreneurs may be in a better position to take risks, without real-world experience, these risks can fuel the high rate of business closures in this country.
Which U.S. cities have the oldest business owners?
Santa Fe, NM, is home to the oldest business owners in the country, with the average age being about 59 years old. Home to an older population (especially retirees) and a slower population growth, Santa Fe does have a higher-than-average cost of living. This higher cost of living may dissuade young professionals from moving in and pave the way for more established, local professionals to serve their local community confidently with their business offerings.
Napa, CA, houses the second oldest population of business owners with an average age of 57. Similar to Santa Fe, Napa is also a retiree-friendly city with a high cost of living.
Monroe, LA, came in 3rd place, with an average age of around 57 as well. Notably, this city has a slowly shrinking population, which may explain why the average age skews older. But, while its population is currently declining, hope is on the horizon for the local economy and aspiring business owners. In 2025, Mid South Extrusion announced a $12.5 million investment in its manufacturing facility in Monroe, bringing new jobs to the area. Additionally, Meta selected a site within 30 miles of Monroe to build its $10 billion Artificial Intelligence Optimized Data Center , breathing new life into Louisiana’s economy as a whole. Perhaps over time, the population will grow and breathe new life into the local entrepreneurial scene.
Which U.S. cities have the youngest business owners?
Provo, UT, has the youngest business owners in the country with an average age of 49 years old. And in fact, Utah as a state is home to 4 of the top 10 metropolitan areas in this list.
Why has Utah become so popular for young business owners? According to Utah Business :“One key driver of Utah’s success is its commitment to fostering a business-friendly environment. The state consistently ranks highly for its low taxes, minimal regulatory burdens, and strong economic performance.”
Perhaps even more striking is that over 99% of Utah’s businesses fall into the small business category , showcasing how it has become a prime cultivator for entrepreneurial success. Provo is described as being “filled with unique small businesses ”, including candle-making boutiques, curated vintage thrift stores, and old-fashioned ice cream parlors.
Bozeman, MT, is in second place, with an average age of 51 years old. At one point, Bozeman was the fastest-growing city in Montana , which likely fueled the lower average of business owners in the local area. And with that in mind, Bozeman has been recognized nationally for its bustling entrepreneurial scene. For example, Entrepreneur ranked Montana as the best state for startups in 2025 , due to its high survival rates and high number of startups per capita.
Fargo, ND, ranked 3rd place with an average age of 51 years old. Fargo is the state’s largest city with a population that skews younger, attracting younger folks and families. In fact, Fargo has been recognized as America’s #1 Next Boomtown . Affordability may be a big draw for younger entrepreneurs, as the state has a relatively low cost of living.
Should you start a business regardless of age?
So, should you start a business regardless of your age? The data shows that age may not be just a number. The older and more experienced you are, the better your chances of leading a successful business. If you have an idea and want to learn more about how to get started, visit your local Chamber of Commerce to find out what options you have. You may have an entrepreneurial spirit, and it’s never too late to explore what this might mean for you and your professional life.
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