Combining upper echelons and lifespan theories, we investigated the mediating effect of focus on opportunities on the negative relationship between business owners' age and venture growth. We also expected that mental health moderates the negative relationship between business owners' age and focus on opportunities. Path analytic findings based on data from 84 business owners (mean age=44, range 24–74) supported these hypotheses. Findings suggest that focus on opportunities is a psychological mechanism that links business owners' age with
venture growth. Our findings also indicate that mental health helps maintain a high level of focus on opportunities with increasing age.