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Older adults can thrive as entrepreneurs, says expert

by November 12, 2024
November 12, 2024
Older adults can thrive as entrepreneurs, says expert

Entrepreneur and Aston University alumna Dr Isabella Moore CBE is challenging stereotypes about older adults in business, advocating for the transformative power of later-life entrepreneurship to boost health, confidence, and mental well-being.

Prominent businesswoman and founder of the Olderpreneur Alliance, Dr Moore shared her insights on The Healthy Work Podcast with Dr Simon McCabe, where she highlighted the unique advantages older adults bring to the entrepreneurial world.

Drawing on her Aston University research, Dr Moore argues that older adults possess valuable “age capital”—the resilience, skills, and adaptability built over a lifetime—that make them well-suited to entrepreneurship. Her Later-Creator programme, designed to foster confidence and resilience among mature entrepreneurs, aims to support those looking to embark on new ventures after retirement.

“Many individuals I spoke with were worried about losing cognitive abilities in retirement, particularly those with family histories of dementia,” Dr Moore said. “They sought the mental challenge of running a business to stay sharp.”

For many, later-life entrepreneurship is not just about financial gain but also a means to stay mentally active, preserve identity, and contribute meaningfully. Dr Moore noted that societal expectations often discourage older adults, particularly women, from exploring business opportunities. “Many women internalise the idea that they should focus on grandchildren or caregiving rather than business, while men feel pressured to ‘slow down,’” she observed.

Dr Moore advocates for an age-friendly business environment, urging employers, policymakers, and the media to recognise older adults as valuable contributors to the entrepreneurial landscape. Tailored support, she says, is key for older entrepreneurs, addressing life stages, family responsibilities, and the unique expertise they bring.

Dr Simon McCabe, head of the Healthy Work Research Group at Aston Business School, praised Dr Moore’s work, noting that “age capital” offers older entrepreneurs credibility and confidence. “Keeping both physical and mental well-being in check is foundational to navigating the entrepreneurial journey and building resilience,” he added, urging older adults not to let ageist stereotypes hold them back.

As interest in mature entrepreneurship grows, Dr Moore’s work continues to challenge perceptions, opening up new opportunities for older adults to thrive in business and achieve greater well-being.

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Older adults can thrive as entrepreneurs, says expert

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