Hybrid Entrepreneurship during Retirement: Comparison of Motives and Aspirations

Abstract

Hybrid entrepreneurship represents a surprisingly large part of economic activities in many countries. For example, it has been estimated that in Finland as much as 4 per cent of the employed workforce and 4 per cent of the non-employed population (e.g., students, pensioners) are involved in entrepreneurial activities on a part-time basis (Akola et al. 2007; Entrepreneurship Review 2010). Hybrid entrepreneurs (HEs) also represent a significant share of all entrepreneurial activities (Folta, Delmar and Wennberg 2010; Lith 2010). According to one study, full-time entrepreneurs were outnumbered by individuals who engaged simultaneously in self-employment and wage work (Burke, FitzRoy and Nolan 2008). Hybrid entrepreneurship also seems to be an interesting option for starting a new business. At least, over 50 per cent of nascent entrepreneurs — individuals in the process of starting a new venture — are simultaneously engaging in wage-employment (Acs et al. 2005; Reynolds et al. 2004; Gelderen, van Thurik and Bosma 2005; Bosma and Harding 2007).