Development of entrepreneurship in ageing populations of The European Union

Abstract

Abstract Population ageing in the states of the European Union is a contemporary phenomenon which results from both longer life expectancy and declining fertility rates. The EU response to the challenge of population ageing is theactive ageing’ policy, which aims at increasing the employment rate of elderly workers and increasing the retirement age, and also refers to their participation in social, economic, cultural, spiritual and civic affairs. Population ageing will have an impact on the development of entrepreneurship and the rise of silver economy’ which promotes the development and marketing of innovative products and services aimed at elderly consumers. This paper discusses the relation between the level and dynamics of population ageing and the development of entrepreneurship seen here as the economic activity of population running their own businesses by age groups. The spatial distribution of population ageing, employment in the age groups of 50-64 and 65 and over as well as the number of small and medium enterprises per inhabitant will be presented in the EU national systems. In the light of this research, which shows low employment activity among the elderly, the answer to the question what action should be taken in order to increase the entrepreneurship of this age group is crucial for the EU regional policy.