Following a recent meeting with the OECD, I was once again reminded of the significant human capital opportunity across the silver generations. Thanks to the great work of Prof. Andrew Scott and others, society is slowly but surely coming around to recognising the longevity dividend. But could we do more?
In 2018, working seniors were more likely to be self employed than the overall adult population, with a stagering 39% of 65-69 year olds and 50% of 70-74 year olds being self employed.
In 2018, 14.8 million self employed people were over 50 years of age in the EU.
A range of suggestions have been floated from social security and income tax holidays for the first 6 months, more access to relevent entrepreneur training, and mentoring but nothing has yet to be announced. As the gig economy develops, perhaps this will become more of a priority.
But ... we are observing a growing gender gap in entrepreneurship. Far fewer women are establishing businesses. Those that are rarely have ambitious growth plans to scale, with only 5% of female entrepreneurs expecting to create jobs over the next 5 years, compared with 12.3% of men.
The OECD have recently launched the better entrepreneurship policy tool - take a look at www.betterentrepreneurship.eu