An Explorative Study on Senior Entrepreneurial Intention in Latin America

Abstract

As the aging population is rapidly increasing and life expectancy rates rise around the world, the different economies are faced with new challenges to provide adequate care for their senior citizens aged 60 and over, including health services and pension options. While retirement age is being increased and pension plans appear insufficient, such uncertainty is driving seniors to uphold an economic activity to pursue a better quality of life. Thus, entrepreneurship is becoming a common practice, and senior entrepreneurs have become one of the fastest-growing groups around the world. Senior entrepreneurship is recognized to have the potential to affect economic growth, hence carrying social and economic benefits for the economies. Based on data from the Adult Population Survey 2013-2017 from the Global Entrepreneurship Monitor, the authors of this chapter used binomial logistic regression analysis considering individual factors related to senior entrepreneurial intention in eight countries in Latin America (Argentina, Brazil, Chile, Colombia, Guatemala, Mexico, Panama, and Peru).