Seniors as part of the Missing Entrepreneurs

On November 30 the OECD and European Commission launched their publication ‘The Missing Entrepreneurs 2023 – Policies for Inclusive Entrepreneurship and Self-Employment’.ย As Wize Move Society, it became even more important to focus on senior-entrepreneurship and the need for education programs like our ‘๐—ง๐—ต๐—ฟ๐—ถ๐˜ƒ๐—ฒ ๐—”๐—ณ๐˜๐—ฒ๐—ฟ๐Ÿฑ๐Ÿฌ: ๐—จ๐—ป๐—น๐—ผ๐—ฐ๐—ธ๐—ถ๐—ป๐—ด ๐˜†๐—ผ๐˜‚๐—ฟ ๐—˜๐—ป๐˜๐—ฟ๐—ฒ๐—ฝ๐—ฟ๐—ฒ๐—ป๐—ฒ๐˜‚๐—ฟ๐—ถ๐—ฎ๐—น ๐—๐—ผ๐˜‚๐—ฟ๐—ป๐—ฒ๐˜†’.

Inclusive entrepreneurship

Quoting the OECD: ‘Inclusive entrepreneurship policies seek to unlock entrepreneurial talent across the population, helping to ensure that everyone has an equal opportunity of creating a successful and sustainable business, regardless of their gender, age, place of birth, work status or other personal characteristics. In turn, opening up entrepreneurship to more people can contribute to achieving more inclusive and sustainable growth. Because it is inherently people-centred, inclusive entrepreneurship policies can also create stronger labour market attachment and tackle social and financial exclusion.’Facts from the OECD/European Commission publication

Facts from the OECD/European Commission Publication

โœ… that in a time of continued disruption and uncertainty in the global economy, … entrepreneurs, as important sources of growth, jobs and innovation, have a central role to play in finding solutions to these challenges, but not all those with entrepreneurial aspirations have the opportunity to turn their ideas into businesses;

โœ… that there are more than 34 million ‘missing’ entrepreneurs across the OECD area and 7.5 million in the EU, if everyone was as active in business creation as 30-49 year old men, which is the cohort who is most often identified as the most active in business creation and most likely to create sustainable businesses;

โœ… that there is a growing population of healthy seniors with the skills, financial resources, and time available to contribute to economic activity through entrepreneurship. The ageing population is putting a heavy strain on pensions, health-care and long-term care expenditures, and older people continue to face a high risk of poverty in many countries;

โœ… that entrepreneurship policies for older people can have a role in extending the working lives of many people (Possible barriers: skills, network, finance, health, ageism, time, lack of awareness, etc);

โœ… that the older entrepreneur (50-65) is one of the largest groups of ‘missing’ entrepreneurs (21.2 million OECD / 5.5 million EU);

โœ… that seniors are active in self-employment but few are creating new businesses. Seniors are more likely to own sustainable businesses;

โœ… that seniors are more likely to start their business because they cannot find a job but many report a fear of failure.

Thrive after50: Unlocking your Entrepreneurial Journey

Wize Move Society contributes actively to unlock the entrepreneurial journey with our proven and successful program for those over50. In January 2024 the next group will be starting online and one in the Netherlands (find more info in shop)

#MissingEntrepreneurs #OECD #EuropeanCommission #SeniorEntrepreneurs #ExperiencedEntrepreneurs #LongevityEconomy #ageing #ageism

2 thoughts on “Seniors as part of the Missing Entrepreneurs”

  1. Great thoughts. I started my business after 50 and I’m still going strong at 63. We’re missing out on a vast amount of expertise if seniors are excluded. I’ve watched the resources and the excitement around startups founded by a young team. Their success would be augmented if experienced seniors were added. Part of the problem is that we label people as “experts” when they have very little expertise.

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