grey economy

Mature Entrepreneurs Behind Successful Start-Ups

Mature Entrepreneurs Behind Successful Start-Ups

More than a quarter of start-ups set up between 2001 and 2005 were created by older entrepreneurs, a report by the National Endowment for Science, Technology and the Arts (NESTA) has revealed. The grey economy found that of the 350,000 businesses set up in this period and still trading in 2008, 93,500 were started by 50 to 65-year-olds. This proportion is higher than previous research has indicated. “Traditionally, it has been assumed that entrepreneurship is a young person’s game, but research shows that the share of older entrepreneurs has increased and is increasing,” said report author, Ron Botham. “This is often put down to a higher number of older people being made redundant and starting their own businesses. However, it is also down to the fact that 50 to 65-... »