Barclays Business Research - Olderpreneurs
Baby boomer generation transforms UK’s business landscape in a decade, reveals Barclays Business
Barclays Business has found that far from being ready to retire, many over-50s and over-60s are proving it’s never too late to fulfil ambitions of being their own boss. Barclays data reveals there has been a 140 per cent increase in the number of business owners aged 65 and over in the last decade - the fastest-growing age group.
What’s more, new businesses set up by the over-55s are having a significant impact – Barclays estimates that start-up businesses set up by those aged 55+ in 2015, contributed over £7billion to the UK economy in the following year.
In order to cater for the needs of these ‘olderpreneurs’, Barclays invited Liz Earle with her extensive business credentials and her experience in setting up enterprises at both a young age and later in life, on board as an Entrepreneurial Business Adviser. Read her Top 10 tips here
Deb Reader, Barclays Business Banking Manager, commented: “It is fascinating to see this new emerging trend of ‘older’ entrepreneurs. At a time when they could be planning for retirement, the over-55s are utilising their skills by putting their wealth of experience and business knowledge to use, breaking down stereotypes in the process.
“We are passionate about supporting companies of all shapes, sizes and ages no matter where they are in their journey. That said, we are keen to focus on this growing segment of entrepreneurs and provide the support they need to make their business ideas a reality. Working with Liz brings a fresh perspective to the needs of the over 50s in business, to help us deliver first-class service.”