Abstract: The effect of the discrepancies of entrepreneurs demographic characteristics on enterprises is an essential part of enterprise growth theory and a heated issue in management. With the 2010s public data of SMEs in China stock market， the relationship between entrepreneurs demographic characteristics and their living state is examined. The research results reveal that: firstly， there is a U-shaped relationship between entrepreneurs age and their enterprises living state; secondly， entrepreneurs educational experiences have positive effects on their enterprises living state， namely， the higher the better; thirdly， there is also a U-shaped relationship between entrepreneurs working experiences relevant to their recent career and their enterprises living state. Through the research it could be documented that entrepreneurs of SMEs are obsessed with middle-aged crisis， which requires them to acquire new management experience by constant learning.

Key words: upper echelons theory, smal and middle enterprise(SME), demographic characteristics, living state of enterprises