Senior Entrepreneurship Research Articles

Opportunity entrepreneurship after 65: Relevant factors in OECD countries

This research aims to analyze individual and national level factors that influence opportunity-driven senior entrepreneurship (people older than 65 years) in a group of 12 OECD countries. At this age most people in developed economies could choose between retiring, continuing working, or starting a new venture. It is important to understand the motivations behind their decision. We use data from the Global Entrepreneurship Monitor (GEM), to identify the effect of attitudes, perceptions, and aspirations as well as their sociodemographic characteristics. The sample consists of 24,139 observations from individuals older than 65 years. Additionally, we used the Human Development Index (HDI) – from the United Nations database–, to measure the country's level of development. Because of the nested nature of the data, we estimate our models using a multilevel logistic regression. Our results show that income, education, and occupation, in conjunction with the level of human development of a country have a significant influence on the probability of entrepreneurship by opportunity for senior individuals (+ 65). This research has policy and practical implications related to the decision of senior people to explore the creation of a new venture instead of opting for other alternatives such as retiring.

Senior entrepreneurship in Latin America: evaluation and support from entrepreneurship ecosystems approach

PurposeThe purpose of this study is to make an exploratory analysis of the impact of the entrepreneurial ecosystem (EE) as defined by Acs et al. (2014) on opportunity-driven senior entrepreneurial activity in Latin America.Design/methodology/approachThe research uses data from the Global Entrepreneurship Monitor and the Global Entrepreneurship and Development Institute of five Latin America countries (Argentina, Brazil, Chile, Colombia and Mexico), providing a total of 15,019 observations of people that are 50+ years old, between the years 2013 and 2017. A multi-level logistic regression model was used to estimate the relation between the total entrepreneurial activity by opportunity of seniors and some EE indicators. A total of three equations were estimated on the data set described.FindingsThis research confirms the relevance of some elements of EE on senior entrepreneurship in Latin America. Entrepreneurial attitudes have a positive relationship with senior entrepreneurs, generating higher levels of entrepreneurial ventures. The combination of institutions that support these attitudes on the EE enhances senior entrepreneurial activity. It also demonstrates that a higher level of entrepreneurial education at postschool stages is relevant to increasing senior entrepreneurial activity.Originality/valueThis research makes some interesting contributions in the field of measuring the impact of EE on senior entrepreneurship by opportunity in developing countries, filling a literature gap. It allows us to glimpse some measures that policymakers could take to improve the entrepreneurial activity of this segment in the region, such as implementing programs that facilitate networking opportunities and mentorship, along with providing training in business and financial literacy.

Senior Entrepreneurship: An Integrative Framework of Self-Efficacy, Motivation, and Intention

Senior Entrepreneurship: An Integrative Framework of Self-Efficacy, Motivation, and Intention

Senior entrepreneurship dynamics: Latin America perspective

PurposeThe main objective of this research is to exploratorily analyse different factors that influence the decision of the senior population (+50 years) to engage in entrepreneurship activities in a group of Latin American countries. This study considers the motivations for entrepreneurship (opportunity and necessity) and the level of development of the countries.Design/methodology/approachThe authors used data from the Global Entrepreneurship Monitor (GEM) with a sample of 22,139 observations of senior individuals in seven Latin American countries surveyed between 2013 and 2017. The authors also used the Human Development Index to capture the relevance of the level of development. The authors employed a multilevel logistic regression model to test the study hypotheses.FindingsThe study results show that individual factors such as personal income, education and occupation have a significant influence on the probability of entrepreneurship of senior individuals. Related to contextual factors, the level of human development of a country has a negative influence mainly on opportunity-based entrepreneurs.Originality/valueBecause of the rapidly ageing population in Latin America, understanding senior entrepreneurs and their motivations is very relevant not only in terms of theoretical development but also for policy and practical implications, primarily those related to labour markets and social protection.

What drives social entrepreneurial intentions after retirement from a full-time career? Evidence from Oman

PurposeDrawing on the socioemotional selectivity theory and the volunteerism literature, this study aims to examine the influence of empathy, altruism and opportunity recognition, on social entrepreneurial intentions (SEI) of people who have retired from a full-time career. Furthermore, the study examines whether the above-mentioned relationships are mediated by moral obligation.Design/methodology/approachA set of hypotheses is tested by applying partial least squares structural equation modelling on a survey sample of 227 retirees in Oman, who had participated in an entrepreneurial leadership training after retirement. Using SmartPLS software, the path model is tested through bootstrapping.FindingsThe findings suggest that altruism and opportunity recognition do not have a direct relationship with SEI, however, they are significant only when mediated through moral obligation. Nevertheless, empathy has a significant direct association with SEI, and an indirect relationship through moral obligation.Practical implicationsThe findings of this study demonstrate that to develop intentions to indulge in social entrepreneurship, among retirees who are approaching their senior years, the focus should be on driving their sense of moral obligation to society. Hence, policymakers and authorities connected to social wellbeing goals can fine-tune their initiatives, such as training, by emphasizing on moral obligation to address social issues through social entrepreneurship.Originality/valueThe novelty of this study is twofold. Firstly, to the best of the authors’ knowledge, it seems to be among the first empirical study that is at the crossroads of the senior entrepreneurship and the social entrepreneurship literature. Secondly, this study fills a gap in the extant literature by deploying the socioemotional selectivity theory to examine the antecedents of SEI of people who have retired from full-time employment in their early to late senior years.

The ICT Use by Senior Entrepreneurs

Senior entrepreneurs need help using ICT due to their limited technical skills, but this can be addressed by providing them with simple, familiar, recognizable, and flexible ICT. Previous studies have shown that social media, particularly Facebook, is widely used by entrepreneurs. With the growing aging population worldwide, acknowledging and leveraging the potential of senior entrepreneurs can lead to a more diverse and inclusive consumer landscape. This qualitative study used the semi-structured interview to explore the scenario of senior entrepreneurship, which examined their motivations from push and pull motivation and senior entrepreneurship activities. Ten participants were interviewed, revealing that social media platforms like Facebook and WhatsApp are used for marketing and communication. The study sheds light on the ICTs used by senior entrepreneurs to enhance their business efficiency and sustainability. While social media adoption is helpful, further research is still needed since intrinsic motivations dominate their primary motives.

A Study on the Effects of Senior Entrepreneurship and Personal Environmental Characteristics on Entrepreneurial Efficacy and Entrepreneurial Intention

A Study on the Effects of Senior Entrepreneurship and Personal Environmental Characteristics on Entrepreneurial Efficacy and Entrepreneurial Intention

Senior entrepreneurs: the impact of temporal perception on the entrepreneurial process

PurposeLonger life expectancy brings a new phenomenon: senior entrepreneurship. Whereas starting a business involves investing energy, time, money or other types of resources, ageing is somewhat incompatible with these terms. Research on the impact of time perception on the entrepreneurial process is rather scarce. Considering the lack of knowledge related to the impact of time perception on the entrepreneurship process, this study aims to answer the following research question: how does temporal perception influence the entrepreneurial process?Design/methodology/approachSenior entrepreneurs are the most relevant category of individuals from which the impact of time perception could be observed, as they are objectively closer to the end of their careers than younger entrepreneurs. Therefore, longitudinal research was conducted by interviewing five senior entrepreneurs at 4-year intervals.FindingsResults show that there are two types of temporal perception in entrepreneurship: temporal perception of the entrepreneur's career and temporal perception of the enterprise's development. When these two-time perspectives are not synchronized with the entrepreneur's vision, the entrepreneur develops strategies for seeking to re-establish synchronicity between the temporal perspective (TP) of their entrepreneurial career and that of the business development. The senior entrepreneur is distinguished from a traditional entrepreneur by a limited TP of their entrepreneurial career combined with the notions of bridge employment and generativity.Research limitations/implicationsThe number of cases under study did not allow us to examine every possible type of situation. The sampling of the cases under study did not offer great diversity in terms of gender, as the study had only men. However, the range of ages at startup, from 50 to 65 years, provides greater diversity, as does the range of business segments that included the service, manufacturing and retail food industries.Originality/valueEntrepreneurs with a limited career time perspective correspond to senior entrepreneurs, while others who have an open career prospect, regardless of their age, correspond to any other form of an entrepreneur. This study has also been able to identify that an entrepreneur who realizes their limited entrepreneurial career horizon and perceives a temporal purpose of their company in the service of the involved parties tends to plan the entrepreneurial exit phase.

Longevity trends in entrepreneurial activity. An analysis of the characteristics of senior entrepreneurship in Spain

PurposeOver the last decades, the development of entrepreneurial activity has allowed greater growth and economic development in Spain. However, within the analysis of Spanish entrepreneurial dynamics, insufficient attention has been paid to a key group: senior entrepreneurs. The fact that the first two decades of the 21st century have been accompanied by the two worst economic crises in remembrance since the Great Depression of the 1930s has had a great impact on the professional careers of the group of senior workers, whose careers have been cut short due to the closure of companies. In this way, the present work delves into the reality of senior entrepreneurs in Spain, analyzing the main characteristics of this group, which is becoming increasingly important in society.Design/methodology/approachUsing microdata from the Spanish National Statistics Institute's Labour Force Survey, the study focuses on reference persons who, being 50 years of age or over and actively working, work as an entrepreneur and have started their activity in the last 12 months. The study covers, in turn, the analysis period of the fourth quarters from 2005 to 2020. In relation to the methodology, the work focuses on the use of binary logistic regression techniques, given that the phenomenon to be studied is binary in nature: entrepreneurship or not.FindingsThe main conclusions drawn are the importance of sociodemographic factors such as educational level, age, the profession of the couple as well as the fact of having or not having children. The sector of activity and region are also significant. It is also concluded that senior entrepreneurship in Spain is of a necessary nature, considering the evolution of unemployment and decisions based on pension reform.Research limitations/implicationsThe main limitations of the study refer to the lack of socioeconomic information. Thus, it would be interesting to know the link among the sociodemographic characteristics and the economic situation of the professionals, as well as the fact of whether they have started from a previous situation of unemployment or employment.Practical implicationsThe obtained conclusions allow progress to be made in the generation of economic policies aimed at the professional reorientation of a group of workers who, due to labor market circumstances, are obliged to end long professional careers and to seek alternatives. In fact, entrepreneurship is a viable professional alternative for these professionals.Originality/valueDespite the importance of senior professionals in the Spanish economy, more research is needed on their characteristics and needs. Despite important studies such as Socci et al. (2020) or Perez-Encinas et al. (2021), there are not many studies for the Spanish reality. This paper seeks to deepen the understanding of the sociodemographic characteristics of Spanish senior entrepreneurs, based on current public information and considering different stages of the economic cycle.

Senior entrepreneurship in Latin America

This research analyzes some factors that influence the decision of the senior population (+50 years) to engage in entrepreneurship activities in a group of Latin American countries. We used data from the Global Entrepreneurship Monitor (GEM) with a sample of 22,139 individual observations. We also used the Human Development Index to seize the level of development. This research finds that some individual factors such as personal income, education, and occupation have a significant influence on the probability of entrepreneurship of senior individuals. The level of human development of a country has a negative influence mainly on opportunity-based entrepreneurs. Our research has policy and practical implications, primarily those related to labor markets and social protection.

Senior and technology entrepreneurship: An analysis forOECDcountries

AbstractAging of the population has created a direct effect on economies and tension on social security systems. Policymakers have been senior entrepreneurship as an option to reduce unemployment and delay the age of retirement. The positive effects, of creating a firm increase when is operating in technology‐based sectors. This paper explores the technological and senior entrepreneurship relations, analyzing if age influences technological entrepreneurship and if determining factors for senior and non‐senior groups are different. By using a sample of 8637 entrepreneurs in 22 OECD countries based onGlobal Entrepreneurial Monitor2018 data, the results firstly show a negative effect of being a senior entrepreneur, understood as an entrepreneur aged 50+ years, on technological entrepreneurship. Secondly, it has been detected that in some way senior entrepreneurship follows a different pattern of the probability of entrepreneurship in technology sectors than the sample of the non‐senior entrepreneurs.

Senior entrepreneurship: how subjective age affects seniors’ entrepreneurial intentions

Senior entrepreneurship: how subjective age affects seniors’ entrepreneurial intentions

The silver economy on wheels: a narrative review of the mature-aged, hypermobile gig worker phenomena

ABSTRACT In this narrative review, we provide a historical overview of the rising trend towards vehicle-based living, focusing on mature-aged, hypermobile, gig workers. We draw on findings from several bodies of literature, including road-based tourism and digital nomadism, as well as narratives from popular culture artefacts. Focusing on the nexus of tourism, housing, senior entrepreneurship, remote work, and active ageing, we identify opportunities for the growing silver economy, including ways for regional areas to attract patronage and leverage purchasing decisions associated with shifting population demographics. Scholarly awareness of this previously neglected, and largely invisible cohort of society is weak. Further research is proposed to aid in better understanding the needs of mature-aged, hypermobile gig workers, and associated market opportunities.

Senior Entrepreneurship

Senior Entrepreneurship

Achieving aging well through senior entrepreneurship: a three-country empirical study

Seniors strive to achieve aging well by engaging in entrepreneurial activities subsequent to ceasing their organizational employment. While this is a common practice in many societies, scant research exists on what motivates seniors to engage in entrepreneurial activities once they end their formal employment. We adopt the self-determination theory (SDT) to investigate the effects of goal contents and motives on the well-being among seniors who launch their entrepreneurship journeys. Based on in-depth interviews with senior entrepreneurs in China, India, and Turkey, we contribute to extant knowledge by linking separate paradigms. These are as follows: goal contents and intrinsic motivation-driven entrepreneurship, management of inner and outer challenges, and achievement of the eventual outcome of aging well. We also investigate the culture-specific drivers of senior entrepreneurship in a comparative framework. The implication of this study is that senior entrepreneurs bring complex web of intrinsic motivations for their entrepreneurial acts with the impact on their well-being and produce societal benefits. The cultural dimensions also play a significant role in pursuing entrepreneurial ventures.

Aged and gendered master narratives on entrepreneurship in Finnish higher education

PurposeThe purpose of this paper is to examine the construction of master narratives related to age, gender and entrepreneurship in the context of entrepreneurship education (EE) in Finnish higher education (HE). This is important as master narratives create and limit our understanding of entrepreneurship.Design/methodology/approachThe data comprises 30 student interviews generated in one multidisciplinary Finnish university. The data were analyzed using narrative positioning analysis to examine what kinds of master narratives are (re)constructed in relation to age and entrepreneurship by Finnish university students and how gender intertwines with age in the construction of entrepreneurship.FindingsThree aged and gendered master narratives were identified: (1) youthful, masculine, startup/growth entrepreneurship; (2) middle-aged feminine, expert entrepreneurship and (3) modest, feminine, senior entrepreneurship. The paper makes visible aged and gendered master narratives and cultural norms related to entrepreneurship in the context of EE and HE. Authors argue that the youthful, masculine startup/growth entrepreneurship is the hegemonic master narrative in the context of EE in Finnish HE. Femininity is mostly excluded from this master narrative.Originality/valueThe paper contributes to critical literature on entrepreneurship as an aged as well as gendered phenomenon in the context of EE and HE. So far research on entrepreneurship as an aged and gendered phenomenon in EE and in the context of HE has been virtually non-existent. Moreover, the theoretical and methodological focus on master narratives in entrepreneurship and EE literature is novel. The master narratives identified in the study show that HE students are not addressed equally in relation to entrepreneurship, but aged and gendered hierarchies are sustained.

Senior entrepreneurship in Chile: necessity or opportunity? A GEM perspective

The purpose of this paper is to study the case of Chile and identify the internal factors that lead to senior (+55 years old) entrepreneurship, either by necessity or opportunity, compared to that in other age groups.,The analysis is based on the adult population survey of the global entrepreneurship monitor between 2012 and 2016 and uses a logistic regression model that applies different variables to total early-stage entrepreneurial activity by necessity and opportunity.,Education, human and social capital development, gender and prior experience as an entrepreneur are internal factors that affect entrepreneurial activity with different weights and directions for people over 55 years old in Chile, either by necessity or opportunity. Further, certain factors exhibited by other age groups in the country explain entrepreneurship.,This study does not consider external perspectives on how context influences entrepreneurial intentions.,This paper represents a first step to understanding the factors that governments should consider when designing policies to support entrepreneurial activity in the senior demographic sector, considering differences in motivation by necessity or opportunity. In addition, this study contributes to the development of knowledge regarding senior entrepreneurship in Chile and to the identification of best practices that could be used in other regions.,This report is the first to focus on the motivations of senior entrepreneurs in Chile by quantifying the effects of different factors.

시니어의 기업가정신이 창업의도에 미치는 영향: 자기효능감과 실패두려움의 조절효과

[연구목적] 본 연구에서는 4차산업혁명과 코로나－19 팬데믹으로 인한 사회변화, 일자리 감소, 고용불안 등 사회적 이슈의 중심에 있는 시니어들의 기업가정신과 창업의도와의 관계, 자기효능감과 실패두려움의 조절효과에 대한 영향을 검증하고 시니어 창업 활성화를 위한 시사점을 제시하고자 한다.<BR>[연구방법] 40세 이상의 시니어를 대상으로 온라인 설문조사방식으로 수집한 총 345개의 표본으로 빈도분석, 요인분석, 신뢰성 분석, 상관관계분석, 다중회귀분석 등을 실시하였고, 조절효과 검증을 위해 PROCESS macro의 Model 2번을 활용하여 5,000회의 부트스트래핑과 신뢰구간 95%을 설정하여 분석하였다.<BR>[연구결과] 기업가정신의 하위변인인 혁신성, 진취성, 위험감수성은 창업의도에 모두 정(＋)의 영향을 미치고 있는 것으로, 기업가정신과 창업의도 간의 관계에서 자기효능감은 조절효과가 없는 것으로 나타났고, 실패두려움은 기업가정신의 하위변인인 진취성만 창업의도에 조절하는 것으로 나타났다.<BR>[연구의 시사점] 시니어들의 창업 활성화를 위해 시니어 역량과 기업가정신은 함양하고 실패두려움은 낮출 수 있는 실질적인 창업교육과 하이브리드 창업, 재창업, 연속 창업, 1인(지식)창업으로 이어질 수 있는 사회적 지지와 지원정책을 수반한 창업 생태계 구축이 필요하다.

Senior Entrepreneurship in Malaysia: Motivations and Barriers

Senior Entrepreneurship in Malaysia: Motivations and Barriers

Factores que influyen en el emprendimiento sénior en Chile. Una perspectiva desde el GEM

Objective: The aim of this research is to identify which are the internal factors that lead senior (+55 years) to entrepreneurship in Chile and its comparison with a selected group of Latin American countries. Methodology: To achieve the previous goal, the analysis is based on the Adult Population Survey of the Global Entrepreneurship Monitor (GEM) of 2016 and uses a logistic regression model applying different variables on the TEA (Total early-stage Entrepreneurial Activity). Results: The research shows that occupation, level of education, age, knowledge of other entrepreneurs and the entrepreneur’s confidence in their own skills are key variables. Limitations: These study does not consider the external perspective, which reflects how the environment influences entrepreneurial intentions. Practical implications: Based on these results, governments can better understand what factors they should consider when configuring policies to support entrepreneurial activity in this demographic sector. Furthermore, this work contributes to the development of knowledge about senior entrepreneurship in the country and to the identification of best practices to be used in other countries.