I am from a business family,, myself an ENGG graduate.,, started my carrier as an trader never enjoyed,, later became an MSME enterprise.. during carona, i lost capital of 50 lacks and workers.,,business suffered my Bankers didnot support me and my family didnot support me., hence i need to close my industry.,, now i am back to trading..i want to be an enterprenur again suggest me ,, i am54 years old.,, mentally exhausted..i have a family of one daughter nd wife,, daughter is doing her MS in USA

Ans: Oftentimes, attitude and mental makeup matter more than qualifications. It is important for you to first stabilise yourself in at least one key area of your life and improve your self-confidence and self- belief. A focus on improving your financial situation first may be a start

Ans: Dear Mr Dinesh,
It looks like you have been through a lot after getting into business on your own. Your children too are at a critical stage in life which requires funds for higher education in the next few years. The first question to ask yourself is - what is the priority in your life? Is it financial stability for the family esp for the kids? Or is it the pursuit of your business? The second question is - what is the current status of your household finances? Is there enough savings to manage the household, upcoming education expenses, other expenses (travel, medical etc)?
If you are shaky, it may be time for you to consider taking an assignment which offers you a fixed remuneration and also flexibility to work on your idea. You say you were in the field of IT security. Can you consider an assignment which might take 2-3 days per week managing and overseeing the IT security for a company which cannot afford a full-time professional?
You may also want to consider getting incubated in a good healthcare incubator in your city and also apply for a start-up funding grant from the government of India and/or local state government programmes.

Ans: Well there is no age to start a business and there are many case studies of late starters who built multi billion dollar empires. See what skills you can leverage and plunge in. However, invest only in a way that even if you loose the investment, your basic livelihood would not be impacted.