Entrepreneurship has no age limit

en·tre·pre·neur
noun
1. a person who organises and operates a business or businesses, taking on greater than normal financial risks in order to do so.
synonyms: businessman/businesswoman

‘Entrepreneur’ is usually a term people associate with the stereotypical twenty-something university graduate starting a business from their bedroom. However, in recent years it appears the fastest-growing segment of entrepreneurs are people aged 50+, referred to as ‘seniorpreneurs’ or ‘olderpreneurs’. Studies from the Office for National Statistics show that 1 in 5 over 50s are self-employed, utilising the internet to build their online businesses.

The benefit of being an ‘olderpreneur’ means having a few more years of experience under your belt – making use of many practical and personal skills gained over the years, alongside the possibility of being more financially stable than recently graduated University student who may be faced with thousands of pounds worth of tuition debt.

 “You are never too old to start a business. For those aged between 55 and 64, nearly 20% ran businesses under five years old. We are seeing a growing trend for older entrepreneurs as people choose to take greater control of their work in later life.

We need an economy which allows people of all ages the opportunity to create something new and exciting.” – John Allan, national chairman of the Federation of Small Businesses.

[Rachel Bridge, Telegraph]
The internet is an invaluable tool for any business – it is globally accessible 24/7, cost effective, enables communication and increases credibility, which is why over 50s are joining 73% of 18-24 and 76% of 25-34 year olds who are already running their businesses online.

Millions of people are connected via the internet, it has altered the way people interact and conduct business, 30 years ago you wouldn’t have thought it possible to manage bank accounts, emails and meetings from anywhere in the world from a simple hand held phone, therefore your business should grow with the ever-changing technology that is sweeping the globe.

Sources:
Hewer, Nick. “The rise of the ‘Oldtrepreneur’.” Isle of Man Courier 30 Dec 16: A4. Print.
Bridge, Rachel. “The rise of the olderpreneurs.” Telegraph 2 Oct 15: Online