Understanding the older entrepreneur

Abstract

PurposeThe purpose of this paper is to gain insight into the prevalence of entrepreneurial activity amongst older people, and whether such activity may be an option for them to extend their working lives.Design/methodology/approachResearch was conducted amongst the Policy Voice database of respondents at the Institute of Directors, members who have volunteered their time to answer research questions on a variety of public policy issues. Undertaken electronically, a series of questions were asked of respondents relating to their age and business activities. Amplification by verbatim comments was requested, which gave qualitative context to the quantitative answers received. Over 1,200 responses to the survey were received.FindingsStarting, running or continuing in individual business or entrepreneurial activity would appear to be surprisingly commonplace amongst the research sample, suggesting that there might be more older entrepreneurs amongst the population as a whole than might have previously been supposed. For those with the requisite skills and personal attributes, entrepreneurship in later life would appear to be a valid option for extending working lives.Research limitations/implicationsResearch responses were from a membership base biased towards A, B, and C1 socio‐economic groups.Originality/valueThere have been very limited studies of entrepreneurial and business activity amongst older people.