One of the many reasons that people make the decision to start or buy a business is the realization that after the age of 55, it becomes difficult to find a new job or to replace their employment upon termination for any reason. Whether the economy is strong or weak the unemployment rate for people over 55 is always far higher than for young people seeking work.

While everyone knows that age discrimination is illegal, we all know that it does take place. It is simply more subtle.

Some of the reasons often given for age discrimination include the following. They are not listed in any particular order:

• It is often perceived that older adults are not technologically up-to-date when it comes to computers, including artificial intelligence, point of sale systems, business analytics, and internet research.
• Many employers are reluctant to hire someone who earned a high salary at a previous position and now finds it necessary to accept lower compensation. These employers often believe such employees will be unhappy employees and will continue to seek other employment that pays higher compensation.
• Many managers are simply intimidated when it comes to hiring a person who has more years of work experience than what they possess. Thus, they avoid older, more experienced applicants who they may consider competition.
• Often managers believe that older employees will be unhappy working for younger, less experienced people, and consequently, they will not hire them.
• It is commonly perceived that older employees are low energy people who want to coast through life, including their job.
• The higher cost of company paid health insurance and the perceived higher incidence of health related days off is commonly cited as a factor.
• Sometimes employers do not want to invest the time or cost of training someone who may be retiring in the near future, or who may be seeking a higher paid position.
• Older people are commonly rejected for being over-qualified for the position. Realistically, this is another way of expressing concern that the older person will not stay at the company long because he or she will be seeking other higher paying employment soon after they are hired.
• Some younger managers take the position that the work experience of older applicants is not relevant in the modern workplace.
• Employers are sometimes concerned that older employees will have family caretaker obligations that will conflict with the goals of the company. They consider the need to care for an older spouse or grandchildren to be a negative.
• Sadly some younger managers reject older applicants because they remind them of their parents.
• Some employers are concerned about what could happen if an older employee has to be let go. Concerns include possible discrimination claims, the high cost of severance pay, and the impact on the cost of company unemployment insurance.
• Unfortunately in some cases, younger male managers are interested in meeting younger, attractive, unmarried female employees, while some younger female managers want to meet attractive, unmarried male employees. This is a fact of life.

While most of these points can be attacked, it does not change the fact that they exist as reasons cited by many not to hire older job applicants.

While most people start their own business, or buy a business for financial rewards, personal freedom, financial independence, security, and many other related reasons, if you are over 55 the facts set forth above are additional motivating factors.