It’s interesting that the Global Entrepreneurship Monitor report shows that the level of entrepreneurial activity amongst people over 50 has continued to rise even after the end of economic downturn. This suggests that the government should consider targeting additional business support at older people starting new ventures, to help increase the likelihood of success of their start-ups.
What’s especially useful for the economy is if older people are able to create businesses that generate real jobs and wealth. For example, Ray Kroc did not start to build the McDonalds fast food chain until his mid-fifties. He went on to develop a global business. It is important to ask, therefore, how many older entrepreneurs are creating businesses that survive for at least three years, and do their businesses successfully take on staff, so generating significant employment.