There is a growing trend for over 50s to start successful businesses later in life. A large part of their success is owed to their years of life and work experience. With Australian's working later into their lives starting a business in your 50s makes a lot of sense.
This trend has been given the title "Seniorpreneurship". Tony Featherstone from BRW has written a very interesting article on this phenomena. And the full article can be found here:
Tony Featherstone - BRW - Meet the Baby Boomer entrepreneurs founding start-ups later in life