I am
afraid I have to disparage old folks in connection with business.
There
are two problems with old folks and business. One is fairly pervasive the other is just common.
The
pervasive problem is that old people are poor consumers. Old people don't spend much money. As a society ages it has a lower proportion
of consumers. The society then lacks
the consumption that drives the economy and provides jobs for younger
people.
While
we have an instinctive sense that there is some balance between production,
consumption and savings, we don't really know what this balance is. 
We have
the sorry example of Japan from 1991 to 2005 where the society just saved and
produced. The consequence was deflation
and very modest economic growth, growth largely due to exports. Japan really hasn't recovered because there
is no young cohort going out to buy, shop, buy. The U.S. is fortunate in this regard in that we, unlike every
other advanced country (except Israel) are not shrinking and aging rapidly.
The second problem of old people and business is that people commonly get bored. Boredom is a serious problem. I would estimate that 90% of small companies, that have a founder or main operator who has been running the same business for 15 years, would give up with the slightest problem or new competition. I see it nearly every week. People who have been in business too long, just give up and quit.
Nine out of ten business claim that Wal Mart, Borders, Starbucks or some other new competition drove them out of business. It is total nonsense. Most of those businesses were old people who were too tired, worn out and bored to continue.
Getting old may bring more knowledge, skill and focus but usually it just means slowing down.