Tips for Older Entrepreneurs
In the last 10 years there has been a huge 140% increase in the number of entrepreneurs aged 65 and older, according to Barclays Business in the UK. In the same period, there was an increase of 63% in the number of older entrepreneurs or businesses owned by those over 55. Surprisingly younger entrepreneurs lagged significantly behind with only an increase of 23% for the 25 – 34 years population.
Barclays has appointed the founder of a skincare company, Liz Earle, to advise on the ways that banks can better support older entrepreneurs. In an interview with YourMoney.com she commented
The older generation adds so much value to the workplace in any context – bringing a wealth of experience and industry contacts to the table. I’m not surprised to see so many budding entrepreneurs of my generation, but it’s great to see them taking the plunge in later life, rather than feeling it’s too late.”
She offered ten tips for people starting a business later in life which I have adapted and shared with you here.