PRIME has published Generations Forgotten, a study into attitudes to older people as entrepreneurs based on an independent survey of a thousand people.
The study demonstrates the difficulties the over 50s have in finding work as employees, principally because of ageist attitudes – which the over 50s clearly perceive as still rife. And it highlights the key role self-employment plays in making it possible to remain financially independent.
The results also show that there is an interest in self-employment on a huge scale among older people. But government local and national still seems to have a youth-centric attitude to enterprise which is inappropriate in an ageing society.
The survey reveals that there are far more people aged over 50 who are interested in enterprise than generally thought. One person in six in the 50-64 age cohort has considered it. Some 15 per cent of the over 50s polled had already started a business, with 4 per cent starting a business since turning 50.
Clearly self-employment will remain a vital lifeboat for the over 50s for as long as they continue to be discriminated against in the regular job market.
The production of this report has been funded by the Bank of America Charitable Foundation, one of the first fruits a larger ongoing partnership between PRIME and the foundation.
Download full press release (Word)
Download Generations Forgotten report (PDF),
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This report is very enlightening, both myself and my husband have been on the unemployed since Oct/Nov 2008 respectively. We both consider ourselves hard workers, committed to giving our all. We are fit (reasonably), certainly capable of working full-time for many years yet. And yet we have struggled to find suitable new employment; it had nor really occurred to me until recently that this could be age related (duh). We both really believe that we have a lot to offer the world yet.
So having failed dismally to regain employment, we have both changed our directions, my husband is training to be a driving instructor, and I have started my own business providing Virtual Administration. Though this in itself is not proving an easy task. Neither of us is ready emotionally or financially to step back from the work place, but knowing where to turn for help and advice has been kept well hidden.
The PRIME initiative needs more support and public awareness.