smallbusiness.co.uk: Helping your business think big

Cancel Christmas?

Some of you are probably wondering whether you should cancel...
Have your say »

RSS

Growing numbers of 'olderpreneurs' going into business

Jan 21 2008

Increasing numbers of over-50s are setting up their own SMEs, according to one business expert.

Enterprise company Prime said that this phenomenon can be attributed to the demographical influence of the baby boom, as there are now more people at this age.

Ian Stobie, marketing and research officer with the company says that there were two different types of 'olderpreneurs' going into business.

'Some people are doing it because they need the money, because they need a livelihood, and they therefore don’t have much in the way of resources,' he says.

Mr Stobie added that there are also those who are setting up the businesses 'they've always wanted to' as they've now got time to work on them.

A recent survey from Prime found that men are most likely to be contemplating setting up a business in the financial and business service sector and construction.

Women are more likely to be thinking about establishing a business related to health and social care and in manufacturing activities.

Comments

There are currently no comments on this article

Prize Draw

Smallbusiness.co.uk has teamed up with Avery® Quick&Clean™ Business Cards to offer five lucky readers the chance to win a copy of BBC Dragons' Den James Caan's new book The Real Deal and a pack of Avery® premium heavyweight business cards. To enter the prize draw, simply answer our question here

Polls

Latest News

UK needs to help start-ups

The country needs to work collectively to help people with good ideas to start up their own business.

'Spouse power' gives businesses £72bn boost

Partners of small to medium-sized business owners are contributing 230 million unpaid hours each year, helping these firms stay profitable, new research has found.

Entrepreneurs 'need to make risky decisions'

The success of a business is down to the risky decisions the owner makes, according to new research from the University of Cambridge.

Half of small firms 'could lose everything'

Almost half of all business owners could lose their home or everything they own if their company goes under, according to new research.

Female-led start-ups 'need confidence'

Confidence is the main hurdle for women starting a business, as they have to earn it and build on it, says one female entrepreneur.

New Dragons' Den scheme could aid UK

Around 20,000 new businesses could be created in a Dragon's Den-style programme for the unemployed proposed by the Tories.

RDAs 'can lead businesses'

Regional Development Agencies (RDAs) are in the best position to guide firms and help provide solutions for them, business secretary Lord Peter Mandelson says.

Banks must be flexible for start-ups

Small businesses are calling for government help to reduce interest hikes on overdraft charges, following a meeting between ministers and bank chiefs.

Small business owners 'delaying retirement'

Bosses of small firms are delaying their planned retirement, with almost one in five saying they will not give up work at all, according to a new survey.

Scarborough shines as enterprise capital

When it comes to business, the seaside town of Scarborough has washed away impressions of being built upon fairgrounds and candy floss shops, after being named enterprise capital of the UK.

Majority of SMEs are recycling

Recycling is the main priority for small businesses trying to help the environment, says a new report.

Guides & Tips

Healthy margins for speciality food

Splashing out on organic and home-grown foods is something we have developed a taste for, but with sales of fast food on the rise how are speciality and niche providers findiing new ways to stimulate taste buds and be affordable?

Start-up survival: the early days

When I sold my venture capitalist firm in 2000 and I was asked what tips I had for start-up companies, my initial response was, ‘Just don’t do it!’

Guide to writing a business plan

This 10-point guide shows the benefits of a good business plan and what to consider when writing one.

Don't Miss

Start-ups and universities

The UK is world-class when it comes to science and innovations. Increasingly, these great ideas are being turned into commercial reality

Rising star: Piers Daniell

Still only 26, Piers Daniell has taken internet service provider Fluidata from the confines of his bedroom to a £2 million business in the space of two years

Business loans for starting up abroad

There is no reason in principle you cannot finance the purchase of an overseas business in the UK. The Business Banking Code says that before a bank lends you any money, they will assess whether they feel that you will be able to repay it.

Store

FT Guide to Personal Tax

Formerly the Lloyds TSB Tax Guide, the FT Guide to Personal Tax is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc and Jonquil Lowe, this unique guide gives step-by-step advice to completing your tax return as well as 100 tax-saving tips.

FT Guide to Business Start Up

Formerly the Lloyds TSB Small Business Guide, the FT Guide to Business Start Up is now published by Pearson Education. Written by Sara Williams, CEO of Vitesse Media Plc, this unique guide has sold over two million copies. It offers practical advice about starting and running your own business.

Growth Company Investor

Growth Company Investor is widely recognised as the leading magazine for investors interested in AIM and smallcap companies. Published 10 times per year, and brought to you by an award-winning analyst team, it offers subscribers unrivalled insight into high-potential smaller companies. Subscribe today with a 50% discount in your first year.