The New Age of Older Entrepreneurs
When did entrepreneurship suddenly become the prerogative of the young? Has the increase in youthful entrepreneurs caused a backlash of ageism? This seems to be the belief amongst some lenders. However, research suggests that age is a positive factor. Over 23% of start ups are now aged over 55.
Age itself only guarantees experience, not creativity, but a success such as McDonalds was started by an over 50.
A huge group of older entrepreneurs is launching itself into the economy, they may only be starting micro businesses at the moment but they often have the time, money and passion to build something which can be sold on or left to the next generation.
As the pension pots dwindle, the older entrepreneur may often have few other choices than self employment but that ill wind may be the boost our economies need within the SME sector.