Starting a Business over 50
Lots of people start a business in their fifties or older when they have learnt their trade in another company or turned their hobby into a business.
There are some 21 million people in the UK over the age of 50. This is significant, because for the first time in history the number of people over 50 exceeds the number of people under 25. Between 2012 and 2022, an estimated 12.5 million jobs will be opened up through people leaving the workforce and an additional 2 million new jobs will be created, yet only 7 million new younger people will enter the workforce.
Currently if you are made unemployed over 50 you are more likely to be drawing your pension than find another job, Business survival rate is far higher for those over 50 + and there businesses are more likely to create jobs.
There are many different types of business. See our explanatory page here.