Over-50s encouraged to set up businesses

The latest figures from the Central Statistics Office reveal 2,200 individuals set up new businesses in Ireland every month. However, despite having an ageing population, just 16 per cent of that total is aged over 50.

Enterprise by people aged over 50 is a key emerging sector in Ireland because by 2050 nearly a third of developed economies’ populations will be aged 50 and over.

Transferable skills
A two-day residential workshop is being held in Athlone today and tomorrow, aimed at helping the over 50s develop a business from the initial idea to launch, marketing, sales and success.

Organised by the County and City Enterprise Boards, the workshop aims to encourage more over 50s to start their own business, especially if they have taken early retirement or been made redundant.

Many people in this age category who consider starting their own business must realise that they have achieved transferable skills during their working lives which are essential for entrepreneurs, said Hugh Reilly of the County and City Enterprise Boards.

“People who have taken early retirement or redundancy will often have enough capital for a strong start-up.

“These workshops will provide essential information, from setting up their business to developing a marketing plan, running a successful company and formulating an exit strategy.”

Keynote speakers include Aidan McCormack of McCormack Training and Consultancy, Justine Negri, founder of Sole Careers, and Denis Coen, Elite Mindsets mind coach.

Other successful entrepreneurs aged 50 and over will share their own experiences and give advice about getting started in business.