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More and more older Americans are having a tough time in this economy finding employment or making ends meet in retirement.

At the same time, most don’t have the capital or willingness to risk their savings to start their own business.

There are many small businesses that you might consider starting that don’t require much capital — but it is very important to carefully research any venture to make sure it is not a scam.

Here are eight reasons to start your own business:

• Laid off — Layoffs are one reason to start your own business. Many boomers have been forced into early retirement after being kicked out of the workforce. If you can’t find a job after being laid off consider, as many older Americans have already done, starting your own business. Remember that many startups don’t succeed and you could lose the money you invested to get your business started. Also, it usually takes some time before a new business generates enough profit for you to have much take home money.
• Telecommuting — You don’t have to go to the office anymore if you have set up a home based business. For those who hate commuting, working out of your home is a dream come true.
• Cheaper resources — Given the economy, now is a good time to find inexpensive talent to help you run and grow your business. Technology allows you to often hire the people you need to work remotely as well as hire individuals or firms on a project basis.
• Tax write-offs — A benefit in owning your own business is the opportunity to write off or depreciate legitimate business expenses. The equipment you purchase such as a PC, laptop, iPad, iPhone, etc. can be written off as a business expense. You can also deduct software as well as most auto expenses and transportation costs.
• Low interest rates — In today’s business environment, many have started their own businesses with very little capital investment. If you need capital, the cost of money is at very low interest rates — however, you should check with your bank or financial institution as you form your business to make sure you can provide all the proper documentation before having to borrow. The time to make sure your ducks are in order is before you actually need the money.
• Seller financing — If you are interested in purchasing an existing business, many sellers will finance the purchase, often at extremely favorable terms. Most will “hold notes” to bridge the gap between the purchase price of the company and the total funds you can raise.
• Franchises — Franchises offer proven business opportunities. Check out FranchiseGator and Franchise Solutions. both of which will provide you with lots of good information. You can search franchises by geographic location, the amount you wish to invest and industry or type of business. For a list of franchises and their costs, click here .
• Capitalize on your experience — Of all the businesses started by retirees, consulting leads the list according to a survey conducted by RetiredBrains.com. If you are considering either becoming a consultant or starting your own consulting business, click here and enter consultant in the keyword box and you will see thousands of consulting opportunities posted by consulting companies and employers located throughout the world. This should give you an idea of where you might focus your own consulting practice.

For a list of issues to consider before starting your own business, click here .

Also see:

Disclaimer: As in any investment opportunity check with your accountant and attorney prior to making any commitments.