Proceedings of the 6th International Conference on Advanced Research in Management, Economics and Accounting
Year: 2024
DOI:
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Silver Entrepreneurs: Breaking Age Barriers in Business Innovation
Daria Ilczuk, Łukasz Dopierała, Joanna Bednarz
ABSTRACT:
The creation of micro and small enterprises is crucial for economic development. The important determinants influencing further business growth are related to the various characteristics of the founder. In the aging societies of highly developed countries, a phenomenon of establishing new businesses by individuals in the later stages of their careers is increasingly observed. In the literature, these individuals are referred to as silver entrepreneurs and it is assumed that they are individuals who start business activities after the age of fifty. The literature indicates that to better understand the phenomenon of silver entrepreneurship, studies should consider the ability of mature individuals to create successful enterprises. Consequently, an important research gap also lies in the propensity of this group to develop innovative businesses and examine the differences in this process compared to other entrepreneurs. The aim of this study is to explore which factors influence the implementation of innovations by entrepreneurs over 50 years of age. Innovations are understood according to the Oslo Manual (2018) classification, as product, process, marketing, and organizational innovations. The study is based on primary data obtained through the CATI method, which were analyzed using logistic regression. The results indicate that individuals who start businesses after the age of fifty may implement innovations in their enterprises statistically more often than their peers who started businesses at a younger age. This relationship is particularly evident in the case of marketing and organizational innovations.
keywords: ageing; entrepreneurship; self-employment; business development