You are here: Home - Saving & Banking - News -

Fifty Not Out

0
Written by:
05/10/2006

Life begins at 50 for a new breed of greying entrepreneur. Mike Collins (48) takes heart and finds out more.  
 
The expression ‘better late than never’ certainly applies to the 50-something generation that is getting off its collective rear end and starting more businesses than ever before.

According to Barclays Bank, the number of middle-aged people businesses grew by 50% between 1990 and 2000 and now accounts for almost a quarter of new businesses.

Barclays also found that while there is plenty of help available to encourage more young entrepreneurs it’s the frequently written-off over-50s that are actually taking up the challenge and succeeding.

Marcus Austin, editor-in-chief of Startups.co.uk, said: “As a nation we’re doing everything later in life: finding jobs, getting married, having families. Yet there is still a degree of prejudice against employing the over-50s, which is absurd.”

He continued: “However, the grey generation is using this to its advantage by turning their backs on employment and starting their own businesses. And they’re in an ideal position to do so. They’re more likely to be financially stable, more experienced and often better skilled.”

The Silver Fox

Startups has decided to recognise the achievements of the grey generation by having a ‘Silver Fox’ category in the Startups Awards 2004.

Austin added: “I’d urge all those silver foxes who are proving life begins at 50 to enter so they can inspire even more people to start their own businesses.”

Financial adviser Martin Cunningham agreed: “Age is no barrier to becoming a successful businessperson and I know dozens of people in this age bracket who are doing exactly this.” 

Tagged:

Tag Box

Debt

Pension

Spending

Financial fitness

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

Are you a first-time buyer looking for a mortgage?

Look no further, get the help you need by searching for your perfect mortgage

Which ISA is right for you? A round up of the six products available in 2017

From cash to innovative finance to lifetime, here's our guide to the ISA products available to savers this yea...

Guide to buy-to-let tax changes

In late 2015, former Chancellor George Osborne announced a range of  tax measures aimed at landlords, which t...

A guide to switching energy provider

All you need to know about switching from one energy supplier to another.

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Five fund tips for a 0.25% interest rate environment

With interest rates stuck at a record low 0.25% and expectations rates could fall to close to zero, here are ...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Investing your money

Alliance Trust Plc gives you smart insight into how to invest your money

Money Tips of the Week

Read previous post:
Equity Exporters

More Britons than ever are buying property abroad and pushing up local house prices as a result. Mike Collins investigates   

Close