Over half of individuals over the age of 50 have described themselves as ‘entrepreneurs’, shaking up the popular perception of start-up founders being twenty something tech whizz-kids or trendy millennials from Silicon Valley.
The survey carried out by the Institute of Directors (IOD) and published in a new report, the ‘Age of the Older Entrepreneur’ shows that the over 50s are increasingly using their pension pots to start up their own businesses, rather than spending their twilight years buying a Maserati or sunning themselves in the Algarve.
‘It is a cause for celebration that an increasing number of experienced workers are going it alone as entrepreneurs. I have long been an advocate of working later in life, but it is crucial that those who choose these routes have the right tools, and feel adequately supported in the process’,
says Lady Barbara Judge, Chairman of the IoD.
‘They are people with wisdom, experience and good judgement, who can have many years of productive work ahead of them.
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