Are there any olderpreneurs here?

HEALTH CHECK: more over-65s are using their skills and expertise to launch their own businesses.

FORGET the idea that people retire with a sense of relief that work and business are now things from their former life that they never need worry themselves about again.

It turns out that many of us bring the curtain down on our careers, only to start a new act, running our own businesses.

Research by the global banking giant Barclays reveals that, over the last decade, the fastest growing age group of business owners was those aged over 65. Between 2006 and last year, that age group recorded a 140 per cent increase in entrepreneurship and self-employment.

We may not be pulling down a regular pay cheque any more, but the good news is that many of us are putting the skills and expertise we have built over many years to profitable use.

Perhaps it is no surprise that former teachers and doctors are well represented in this category.

There is another, less welcome, motive behind the increase in ‘olderpreneurship’, however; some of us are becoming our own boss later in life because our pensions are not enough to maintain the lifestyle we want.

Of course, the internet has made it much easier to launch a business these days – but the rate of business failures is still as daunting as it ever was.

But, according to the Office for National Statistics, whatever the reason for starting our own business later in life, most of us are very happy with our new self-employed status.

Are you an olderpreneur? Have you started your own business since you retired from the day-job?


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