Tools for older entrepreneurs

By Sam Henderson

Senior Entrepreneurship in Aotearoa New Zealand project leader Geoff Pearman says a new report has inspired a series of talks at libraries around Dunedin that will provide targeted advice for older people. PHOTO: SIMON HENDERSON

A report released today suggests senior entrepreneurs starting businesses after the age of 50 are an under-utilised resource that can substantially rewrite the perception of people in the workforce. Simon Henderson reports.

Giving older people the tools to make their entrepreneurial ideas a reality is the focus of a series of talks taking place in Dunedin.

The talks will build on information gained from a report called Senior Entrepreneurship in Aotearoa New Zealand: An unrealised opportunity.

More than 40 people who started a business later in life or were considering this option were interviewed for the report.

The researchers also ran regional workshops and focus groups, reviewed international literature and talked with key people in the innovation ecosystem.

Project Leader Geoff Pearman said often the narrative around entrepreneurship focused on a "young, hip, tech, go-getting" demographic that did not reflect the full picture of older entrepreneurs. Alongside the report, a "non-technical" guide called “Starting a Business in Later Life” was created that could help those in the general public thinking about future plans.

As well as the series of talks, people would be able to book follow-up one-on-one discussions to work through the next steps in their plan.

A free self-assessment tool was also launched today at betterworkinlaterlife.co.nz that allowed people to test their idea and gain information to help create a workable plan.

Mr Pearman said the aim was to get the person sitting at home with a bright idea out of the house and working on their plan.

With an ageing population, more people would continue working beyond retirement, but resources and information were often not tailored to suit older people.

Making connections with others who were at the same stage of life was key, Mr Pearson said. "That is the other thing that came through the research, was the importance of social support, and meeting people like yourself."

The report was undertaken by Massey University’s Health and Ageing Research Team as part of a wider research programme on maximising workforce participation for older New Zealanders.

It was funded through the Ministry for Business Innovation and Employment Endeavour Fund.