Tuesday, April 04, 2017
No rest for the over-50s--start a business!
This according to a report by Babson College, Universidad del Desarollo, Universti Tun Abdul Razak, and the Korea Enterprise Institute.
These groups studied 1,540,397 adults from 18 to 80 acorss five regions of the world. Check it out at http://www.gemconsortium.org.
The conclusion was that older people are a significant entrepreneurial force.
--18% of adults between 50 and 64, and 13% between 65 and 80, are self-employed.
--Just 11% of those between 18 and 29 are.
Yet, most programs for entrepreneurs are aimed at the younger crowd.
Senior entrepreneurship is highest in Sub-Saharan Africa. Here businesses require lower skills and less money to get going.
Senior business owners bring a host of economic, social, and environmental benefits, including less need for state financial support and job creation.
Moreover, older investors give more money than younger ones.
Elderly entrepreneurs also express more satisfaction with their lives and their work. They are more willing to take risks (but may also have the lowest self-confidence).
Also--entrepreneurial intentions are lowest among senior women. Six senior women for every 10 senior men start businesses.
There are 1.6 billion people over 55--now is not the time to collapse in a heap. There is work to do.