Is it really difficult to start a business over 50?

You'd be surprised how many people want to become entrepreneurs. You would be even more surprised to learn that this enthusiasm exists in all age groups. In fact, according to one study1, one in four people over the age of 65 have "entrepreneurial intention", while almost one in five people over the age of 50 feel the same way.

Granted, when you picture the typical entrepreneur, you picture people like Mark Zuckerberg (Facebook), Steve Jobs and Steve Wozniak (Apple AAPL), and Bill Gates (Microsoft MSFT). While young entrepreneurs got a lot of the press, remember that Ray Kroc (McDonald's), Colonel Sanders (Kentucky Fried Chicken) and Leo Goodwin (GEICO) were all in their 50s and 60s when they started their respective companies.

Indeed, a recent research article2 concludes that "the 'batting average' for building successful businesses increases dramatically with age. …a 50-year-old founder is 1.8 times more likely to achieve a higher growth than a 30-year-old founder. Founders in their early 20s are least likely to exit successfully or build a high-growth company in 1,000."

A lot can be said about these numbers, but it's possible that with age comes experience, and with experience comes market value. The lure of these dollars might be too tempting for those looking to find a way to counter the effects of inflation. This is especially true for those who are at or about to retire.

"Creating your own side business gives you a way to share your passions with the world while earning extra income," says Liz Miller, director of communications at GetSetUp in San Francisco. “It not only helps you stay mentally and physically engaged as you manage regular tasks to make them a success, but it also helps you form routine and community. Staying mentally, physically and socially healthy while having a sense of purpose and not being burdened with financial problems helps everyone age better!"

That doesn't mean it's easy to start a business, at any age.

If you're thinking of starting a business when you're about to retire or in your early retirement years, chances are you have some experience, but not necessarily the experience of have already started a business. Without this knowledge, starting a business can seem like a daunting task.

"The biggest challenge in starting a business is knowing what you don't know," says Abhishek Pakhira, COO of Aureus Tech Systems in Greenwood Village, Colorado. "There are many steps involved that the average budding entrepreneur doesn't know about. It's much easier when you've already started a business."

Don't worry. It is this first step that is the most delicate.

"The difficulty is in the beginning," says Cameron Johnson, CEO and founder of Dallas-based Nickson Living. “On day one, there are simply countless tasks to complete before you even start thinking about income. For example, naming a business on its own takes some people weeks or months. Not to mention registering LLC or C-Corp, insurance, internet setup, email addresses, mailing addresses, accounting and payment processing software, etc. The list goes on, but, like anything . ..