Abstract
From a political and economic perspective, senior entrepreneurship seems to be the response to the demographic consequences of the aging workforce in Europe. Several policies and strategies by the European Union (EU) and the Organization for Economic Co-operation and Development (OECD) promote senior entrepreneurship by creating a favorable environment and frameworks. This article examines the role of senior entrepreneurship as a social innovation understood as a response to unmet needs of population aging in the area of economic activity. In this paper draws on qualitative interviews with 6 experts and 4 senior entrepreneurs (as part of a larger research project) in Poland in addition to the analysis of reports and evaluations of incubator projects. Findings highlight the importance of other factors than financial sustainability of senior entrepreneurship: (1) social connectedness as a means against social isolation, (2) personal self-confidence leading to social and psychological empowerment of the entrepreneurs, and (3) skills, knowledge, and experience that are also strengthening their human capital in the job market. Economic sustainability of the businesses established is not the primary goal in these undertakings. The article suggests that due to the three factors before mentioned that the notion of social innovation in senior entrepreneurship might best be understood as improving the well-being and quality of life of the entrepreneurs themselves. Senior entrepreneurship can be an adequate response to the challenges of the aging population. However, due to the low rates of unemployment, the idea of becoming a senior entrepreneur appears a little tempting.
Highlights
Most of the European countries are struggling to find ways to tackle the demographic consequences of the aging workforce
This paper aims to evaluate the potential of senior entrepreneurship to become a sustainable social innovation solution for aging population on the example of business incubators for senior entrepreneurship in Poland2
The analysis presented in this article does not constitute a systematic evaluation of the projects in the strict sense of evaluation of social innovation with the use of a rigid set of indicators (Riess, 2010), as those have been done by appropriate institutions after the duration of the project
Summary
Most of the European countries are struggling to find ways to tackle the demographic consequences of the aging workforce. Political strategies (e.g., EU Stockholm-target, the Europe 2020 strategy, the European Year for Active Aging and Solidarity between Generations) promote longer working careers and the increase of participation of older individuals in gainful employment. In this context, senior entrepreneurship seems to represent un unrevealed potential for economic prosperity for older age. Social innovation is perceived as a mechanism for achieving systemic social change It is seen as a way of tackling the underlying roots of social problems rather than just alleviating the symptoms
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