Senior Entrepreneurship Research Articles

Factors influencing senior entrepreneurship in Chile. A GEM perspective

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.

Senior entrepreneurship following unemployment: a social identity theory perspective

This article applies social identity theory to examine how identification with social groups shapes the entrepreneurial endeavours of individuals aged 50 or over who start businesses when unemployed or under threat of redundancy. Understanding what drives older individuals to start a business as an alternative to unemployment has important policy implications: governments are interested in promoting self-employment to reduce benefits dependence among older individuals for whom finding employment in the traditional labour market can be difficult. Our exploratory analysis is based on data collected in 21 personal interviews with senior entrepreneurs in the UK who received support from an organisation dedicated to foster enterprising activity among older unemployed people. Our findings suggest that income levels beyond making ends meet is not an important motive for starting a business among this demographic group. Instead, our data highlight the relevance of non-monetary self-rewards—such as pursuit of autonomy, self-realisation, and wanting to feel active, useful and valuable—for senior entrepreneurs who start businesses under adverse conditions. This finding resonates with the European Commission’s policy of promoting ‘active ageing’. Our analysis indicates non-monetary objectives should be included in any conceptualisation of self-interest in an entrepreneurial context.

Understanding Senior Entrepreneur Behavior

There has been increased research interest in senior entrepreneurs and their potential contribution to the global economy. Nevertheless, the extant literature on senior entrepreneurship is often limited to considering some individual factors of entrepreneurship behavior without considering other factors linked to seniors’ environment. In this paper, we aim to understand the factors enhancing seniors to start a new business in Europe; factors linked to seniors’ environment — such as internet and information and communication technologies (ICT) diffusion, the level of status and respect of successful entrepreneurs, relaying information about successful new businesses in the media — and individual factors — such as gender, education, job position, income, skills —. The analysis is based on two main sources of data — the Global Entrepreneurship Monitor (GEM) and Eurostat — using a non-balanced panel dataset corresponding to a sample of 11 European countries covering 2006–2013. Findings of this study indicate that both individual and environmental factors contribute to seniors’ entrepreneurial behavior. Technology diffusion, personal skills, acquaintances’ entrepreneurial experiences, media relaying information about successful new businesses, and the senior employment rate are important factors of seniors’ starting new businesses. The findings provide valuable insights for policy makers to promote seniors’ entrepreneurship and provide better support for seniors to pursue entrepreneurial success.

Senior Entrepreneurship: The Unrevealed Driver for Social Innovation.

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.

Senior Entrepreneurship. Self-employment by Older People – an Uncharted Territory

Abstract An ageing population means a growing number of healthy older people with human capital, financial resources, and time available to contribute to economic activities. However, the economic potential of older people remains mostly underused, which leads to the question, how to make best use of the underused. One way would be fostering senior entrepreneurship. The paper discusses which factors may positively influence or hinder the self-employment of older people. Overall, attention will be drawn to the relevance of older people in the field of business and entrepreneurial economics. From an economic point of view, it seems necessary not only to focus on young people but also to take into account the large and still growing economic potential of the elderly. There seems to be a treasure in waiting.

CONSTRUCTING A STARTUP STRATEGY FRAME

Startup success is greatly attributed to pre-startup phase planning. Startups develop business plans to pitch their ideas to secure funding and/or partners. The task of reading and, relating the frameworks in the document, could be a long and cumbersome process. Similarly, there is no one page illustration that can sketch a startup’s strategy and plan as well as one that is used universally. A one page clear, concise and attractive startup strategy model a ‘startup frame’ is proposed detailing ideation to financial returns analysis. It is constructed on learnings from considerations of the design thinking approach, the business canvas along others. The frame has evolved over a period of 14 months in which two bootcamps were held. Bootcamps were attended by 266 participants. It has also been used by 28 students of a senior entrepreneurship undergraduate course (Launching Entrepreneurial Ventures) over two semesters. It provides a logical flow and connects value drivers on economic, operational and strategic levels of the startup. The frame enables identifying courses of action like, ‘Management of customer benefits (CBEN), Management of segmentation and the customer relationships (CREL), Segmentation of markets and customers (SEGM), Communication management (COMM), Strategic Goal Setting and Management (SGM), Competitor Analysis (CA), Developing Startup Frame (SF), Designing the Business, and Design Elements (DE)’.

Senior entrepreneurship and qualified senior unemployment

PurposeThe purpose of this paper is to characterize the senior entrepreneurship context, as a solution for an unemployed qualified segment between 45 and 60 years of age, in the Northern region of Portugal, from a national and European perspective, associated to the growth trend of qualified senior unemployment in the region, based on a statistical angle and from the point of view of the motivations to become self-employed with a business creation project.Design/methodology/approachThis empirical study is a cross-sectional study of mixed nature, that reconciles qualitative and quantitative analysis. A questionnaire was made and applied to a sample of 1,000 individuals and seven semi-structured interviews which four focus groups were carried out.FindingsFindings allow us to conclude that the studied segment, skilled unemployed individuals between the ages of 45 and 60, is a growing segment that tends to evolve into long-term unemployment and underlines a potential reluctant entrepreneurship by necessity, i.e. a reduced motivational content of these unemployed people for the creation of their own job. The authors can conclude, in the Portuguese case, that government policies relating to taxes and bureaucracy are considered as unfavorable conditions or potentially inhibitors of senior entrepreneurship. Lastly, the authors underline the clear absence of specific support programs and measures for the promotion of entrepreneurship among the qualified senior unemployed and the authors propose an ecosystem creation regarding the specifics of the target group of the study.Practical implicationsThe study identifies a set of actions and/or orientations that could be relevant and taken into account by the decision makers.Originality/valueThe main contribution of this paper is the better knowledge of the context and motivations for qualified senior entrepreneurship, as well as the associated personal, economic and social barriers; and the specific suggestions provided to policy makers in order to improve the context of the senior entrepreneurship.

Senior entrepreneurship – key facts at regional level in Romania

Abstract Senior population is still a valuable resource for the labour market and for entrepreneurship. While ageing population is a global phenomenon and solution are needed to milder the economic impact, there are also to consider the positive outcomes related to the optimal use of potential in the senior population and the benefits of an active life upon the elderly. This paper focuses on the entrepreneurial activity of senior population at regional level in Romania (Bucharest-Ilfov and South-Muntenia), considering a panel of 200 limited liability companies established in the last 5 years, by a single shareholder aged 60+ years. The empirical descriptive study is mainly based on the information about these companies searched for on the Ministry of Finance website. The paper aims to answer questions related to entrepreneurial activity of grey population like e.g. fields of activity raising interest of senior entrepreneurs at regional level in Romania and size of companies in terms of employees’ number and yearly turnover. The paper presents few considerations in view of assessing some dimensions of this phenomenon of senior entrepreneurship at regional level in Romania, based on the data obtained for the last 5 years. The results of this analysis will be enhanced by a further study on the same panel addressing mainly motivational drivers to start-up a business.

The Enterprising Self: a Panacea for all or New Fictitious Social Role for Older Adults? The Analysis of European Polices for Senior Entrepreneurship

The purpose of the paper is to explore how policy narratives in European policy documents frame the image and role of a senior entrepreneur. This article includes a critical assessment of policy texts in two policy frameworks of European Union and OECD, namely: the active ageing framework and the inclusive entrepreneurship framework. The aim of this paper is to address two research questions: How is senior entrepreneurship framed in the European policies? What are the narratives of exclusion and inclusion construed in the European policies on senior entrepreneurship? Using the theoretical perspective of enterprising self and critical gerontology, the paper identifies two major narrations within which the mechanisms of inclusion and exclusion operate: the hegemonic model of a senior entrepreneur and the economization of the model of senior entrepreneurship, with two sub-themes: the growth paradigm and the concept of entrepreneurial success. The recommendation for the future research and policy makers proposed in this paper is a more systematic development of life course sensitive policies with a more suitable mix of diverse approaches which would deescalate the existing inequalities.

The perceptions of Australian senior entrepreneurs on the drivers of their entrepreneurial activity

PurposeWhy is self-employment an attractive option for certain seniors and what drives seniors into business start-ups? In this study, the motivations and preferences of senior entrepreneurs in Australia, to become self-employed, by means of business start-ups, are explored. The purpose of this paper is to provide empirical basis for policy implications.Design/methodology/approachA mixed methods study is conducted. Members of the National Senior’s Association in Australia were interviewed and surveyed. The semi-structured interviews identified the key factors influencing senior entrepreneurs in relation to self-employment and entrepreneurial choices at a later career stage. The survey collected information on intentionality, motivation, skills, opportunities, success, satisfaction, participation, barriers, benefits, education and training, and perceptions of policy support for senior entrepreneurs.FindingsRespondents gave an account of the prevalence of pull factors motivating their choice of an entrepreneurial career. Multivariate statistical analysis of survey responses showed that senior entrepreneurs are more driven by opportunity than necessity and are primarily internally motivated.Research limitations/implicationsResults of this study suggest a weak link between motivation by others and the act of start-up, but this may also imply that those seniors who are more likely to become entrepreneurs are more likely to ignore the impulses from their social context. This requires further investigation to ensure a robust identification of drivers and an elimination of contextual effects. Further research is suggested to compose a relevant model structure in different contexts and a representative sample to confirm the model outcomes.Originality/valueThis is the first mixed methods study of the antecedents of senior entrepreneurs’ start-up intentions in Australia. The study also uses entrepreneurial activity as opposed to intention as its dependent variable, which allows for a more accurate evaluation of antecedents to the senior entrepreneurship phenomenon.

Seniorpreneur as a career option for smart active ageing. A study on Romania

Abstract The ageing of population is a global phenomenon and solutions are looked for in order to milder the economic impact. One alternative is supporting active ageing through development of entrepreneurship among senior population. Seniors are a valuable resource for entrepreneurship. They often have the skills, financial resources and time available to contribute to economic activity. This will lead to the growing prevalence of senior entrepreneurship. Engaging seniors in both business creation and in supporting new and existing entrepreneurs would maximize the quality of their working life, nurture intergenerational learning and ensure knowledge transfer. In this respect, the paper seeks to answer the following questions: What is the seniors’ perception about entrepreneurship and self-employment in Romania? How desirable is a self-employed career for senior population? What are the motivations of Romanian senior population to become self-employed? To achieve these objectives, the paper analyzes the pulse of self-employment in Romania for people from the age group 60+ years. The data used are extracted from the Amway Global Entrepreneurship Reports (AGER) developed for Romania, for the period 2014-2016. Analysis is conducted by taken into considerations the following dimensions of the “entrepreneurship perception”: attitude towards entrepreneurship, intention of starting a business, entrepreneurship career appealing and entrepreneurship motivations. The findings of the paper show that, in general, people over 60 years exhibit a decreasing positive perception about entrepreneurship that can be explained by multiple reasons. In the paper we raise some key issues that require consideration by policy makers in order to support senior entrepreneurship in Romania and improve seniors’ quality of life.

Regional aspects of inclusive entrepreneurship of seniors in Europe

The paper studies the relationship between key factors influencing senior entrepreneurship and the level of inclusiveness of seniors in entrepreneurial activity in Europe. The objective is to cluster countries with similar patterns in senior entrepreneurial inclusivity and to identify the factors leading to inclusive entrepreneurship of seniors and their social cohesion. The focus is on European countries which participated in Global Entrepreneurship Monitor (GEM) between 2001 and 2012, using GEM data as the main source for the analyses. Initially, the authors identify the key factors influencing entrepreneurial activity of seniors within Europe based upon data contained within the literature review. At the same time, utilizing the senior entrepreneurship inclusivity index, the authors measure the level of inclusiveness in each European country. Using the results of these analyses the authors subsequently implement a cluster analysis method to create clusters among European countries based upon the similarities in the relationship between the levels of senior entrepreneurship and entrepreneurial activity of the general population. This helps them identify countries with above average levels of senior entrepreneurship inclusivity. The results allow the authors to assess key similarities in clustered economies in terms of entrepreneurial culture and policies which have a major influence on senior entrepreneurship.

What makes entrepreneurship research interesting? Reflections on strategies to overcome the rigour–relevance gap

As entrepreneurship researchers compete to have their work published and universities strive to attract the best entrepreneurship scholars, it is appropriate to examine what makes entrepreneurship research interesting. Interesting studies are usually defined as well-crafted and well-written studies that challenge established knowledge, and produce new theories and findings. This paper examines entrepreneurship scholars’ views on the characteristics of interesting entrepreneurship research by means of a qualitative approach. Eight focus group interviews comprising junior and senior entrepreneurship scholars were conducted. A core finding is that interesting studies must be relevant to practice. However, the institutionalization of entrepreneurship as an academic field has favoured rigour at the cost of relevance, leading to scholars’ frustration with the rigour–relevance gap. In this paper, we analyse various dimensions of interestingness and reflect on strategies for overcoming the rigour–relevance gap, with particular focus on the creation of applicative knowledge.

Emprendimiento en la Tercera Edad: Una Revisión de la Situación Actual

As the population ages and the retirement age increases, countries have begun to realize the importance of senior entrepreneurship, as a means to extend the working age, increase income for the elder, especially those with low pensions and to generate opportunities to keep this people economically active. This paper aims to review the literature of elderly entrepreneurship, analyzing the opportunities and obstacles being faced by this sector of the population. The reasons and conditions that have made this phenomenon increasingly important to our society in Chile are also explored.

시니어 기술창업을 위한 CBI 추진방안 연구 - 핀란드 브릿지 프로그램 기반을 중심으로 -

본 연구는 고용 없는 성장과 고령화로 진입하는 국내경제 환경에 따라 이를 극복하기 위한 방안으로 시니어 기술창업을 위한 방안에 대해 고찰하였다. 정부와 기업이 운영하고 있는 시니어 창업지원의 한계점을 제시하고 한계점을 극복하기 위해 핀란드의 브릿지 프로그램의 성공요인을 파악하였다. 브릿지의 성공요인은 기업 주도형 시니어 창업지원 프로그램을 운영, 시니어들의 창업성공에 중심을 둔 다양한 교육 프로그램 제공, 창업기업과의 적절한 교류 기회 확대와 민간기업의 사회환원 마인드 확산이다 국내 시니어 기술창업 활성화를 위해 본 연구는 CBI(Corperate Business Incubator)를 통한 방안을 제언 하였다. 본 연구는 창업지원 정책의 발전방향을 파악하고 정부정책 및 산업 활성화 방안수립에 기여할 것이다. 향후 연구는 여러 국가 사례 비교를 통한 분석을 통해 기여점을 제시하는 것이다. This paper discusses entrepreneurship as a mean to overcome problems that arise from economic growth with no job growth and with aging population. In particular, this paper focuses on senior (elderly) entrepreneurship based on technology. It examines and defines restraints of various public and private sponsor programs for senior entrepreneurship. In comparison, Bridge Program of Finland was studied and its success factors are presented. Some of these success factors are enterprise-driven program operation, diverse education program focused on successful senior entrepreneurship, providing networking opportunities among entrepreneurs, and increased awareness in social responsibility of private enterprises. This paper suggests CBI (Corporate Business Incubator) in order to promote senior entrepreneurship. This study is expected to foster economic growth and job creation through utilizing increased elderly population in today's aging demographics. In addition, this study will be able to identify direction for government's role in boosting senior entrepreneurship.

Hardly an Oxymoron: Senior Entrepreneurship

Hardly an Oxymoron: Senior Entrepreneurship

Senior Entrepreneurship: The New Normal

Senior Entrepreneurship: The New Normal

Senior Entrepreneurship in the Perspective of European Entrepreneurial Environment

This paper studies the relationship between senior entrepreneurship propensity (entrepreneurship of the elderly) and national entrepreneurial context, in the European countries that exhibit either high or low levels of senior entrepreneurship. We focus on European countries that participated in Global Entrepreneurship Monitor (GEM) in 2013. We use GEM data as the main data source for our analysis. Firstly, we analyse the propensity of senior entrepreneurship on the national level, in order to create two clusters (high and low ones) based on the senior entrepreneurial activity. These clusters are then studied separately, compared and analysed based on their entrepreneurial environment. In order to assess the state of the national entrepreneurial environment, we use the GEM evaluation of key Entrepreneurial Framework Conditions, which are evaluated by GEM National Expert Survey. We thereafter compare the quality and profile of entrepreneurial environment based on the framework conditions in each of the created clusters and study similarities and differences both within the clusters and between them. In the further analysis, we investigate which of the entrepreneurial conditions and to what extent might play the role in influencing the senior entrepreneurial activity propensity in both high-activity and low-activity clusters.

Explaining Transitions into Self-Employment after (Early) Retirement

Governments that attempt to extend the working lives of their citizens may consider promoting bridge employment. Self-employment in particular, may be an instrument in postponing the age at which workers finally leave the labour market. A NIDI panel study among older workers in the Netherlands revealed that one in every three retirees re-entered the labor market after (early) retirement. Post-career transitions into self-employment are increasingly common. In this paper we explore the various trajectories older adults may choose in their pathway into full retirement. How common is the transition into self-employment after (early) retirement? What motives drives this transition? To what extent is the decision to become self-employed determined by the lack of opportunities for paid employment offered by employers. The results of this study do not support this ‘necessity hypothesis’. Instead, the results point in the direction of the ‘opportunity hypothesis’. At least in the period under study, the self-employment option was primarily chosen by retirees with relatively high social capital (wealth & educational attainment) as well as entrepreneurial attitudes (high scores on self-efficacy). The fact that their retirements were overall quite early, but not considered involuntary, suggests that the timing of the decision to retire may be driven by the emergence of new (business) opportunities. keywords: bridge employmen;, self-employment; older workers; senior entrepreneurship; The Netherlands; longitudinal study

시니어 창업가의 특성이 기업가정신에 미치는 영향에 관한 연구

최근 우리사회는 사회경제적으로 급격한 변화를 맞이하고 있다. 세계에서 가장 빠른 속도로 고령화가 진행되는 가운데 베이비붐 세대의 퇴직이 본격화되고 있다. 이러한 베이비붐 세대는 지난 70~80년대 우리경제발전의 주역으로 퇴직 후 재취업의 현실적 어려움과 미흡한 노후준비 및 이들의 복지와 의료문제 등이 국가적 현안으로 대두되고 있다. 이에 정부는 금년부터 시니어의 강점을 적극 활용하여 생산적 경제활동 참여를 위해 시니어창업육성정책을 수립하고 있다. 그러나 이러한 시니어창업의 중요성에도 불구하고 시니어의 욕구와 시니어창업의 구체적인 특성을 규명하는 연구는 전무한 실정이다. 이에 본 연구에서는 시니어의 구체적인 특성과 창업의도 및 성공창업의 핵심역량인 기업가정신에 미치는 영향을 실증적으로 분석하고 시니어창업의 활성화 방안을 제시하였다. Recently, Our society socioeconomically has faced the sudden changes. The retirement of the baby-boom generation is expected to become mainstream amid the falling birth rate and the aging society at the fastest rate in the world. As such a baby-boom generation is a core pillar of our economic development in the 1970s and 1980s, the rehiring difficulties after retirement, the insignificant old age preparation and their welfare and medical problem has become national issue. The government has implemented the policy for promoting the senior entrepreneur to participate productive economic activity by actively utilizing the senior's strength from this year. However, in spite of the importance of such a senior entrepreneur, the research to study the senior's desire and the concrete characteristics of the senior entrepreneur is nonexistence. Therefore, this paper empirically analysed the senior's concrete nature, entrepreneurial intention and the impact on the senior entrepreneurship, which is the core of the success entrepreneur and provided stimulating measure.