More Americans in their 50s, 60s, and beyond are starting businesses than ever before—but they're also facing new, mounting challenges. In this episode of Friends Talk Money, we unpack what's fueling this surge in encore entrepreneurship and how recent policy shifts—especially cuts to the Small Business Administration (SBA) and new trade barriers—are making it harder for older founders to succeed. Special guest Hedy Ratner, co-founder of the Women's Business Development Center, joins us to discuss how older entrepreneurs, particularly women and minorities, are being affected. We cover:

• Why older Americans are launching businesses in record numbers
• How Trump-era policy changes are shrinking access to critical SBA support
• Why tariffs and trade policy shifts are squeezing small business margins
• What this means for women-, minority-, and veteran-owned businesses
• What encore entrepreneurs need to do now to protect and grow their ventures

If you're starting or running a small business later in life, you'll want to hear what's changing—and what resources are still out there to help you thrive. Links:

• Women's Business Development Center (WBDC)
• SCORE
• Small Business Administration (SBA)
• Most boomers and Gen X-ers are terrified about running out of money in retirement — even if they're already retired (Marketwatch)