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Increasing numbers of olderpreneurs - company directors over the age of 50 - are establishing new business start-ups, according to non-profit organisation Prime.
The demographical influence of the baby boom means there are now more people aged 50 and above in the population.
According to Prime, there are different types of olderpreneurs including the necessity entrepreneur who simply needs a job and those who simply decide to finally do something theyve always wanted to in life.
A survey carried out by Prime last year found that Personal services (26.3 per cent), financial and business services (19.7 per cent), retail/wholesale (15.8 per cent), and health and social care (11.5 per cent) were the most popular areas for people over 50 planning to set up their own businesses.
The findings also indicated that men "are more likely to be thinking about a business in the financial and business service sector and construction" while "women are more likely to be thinking about establishing a business related to health and social care, and interestingly, also in manufacturing activities".
Ian Stobie, Prime marketing and research officer, said: "What tends to happen is that there are fads and fashions that drive the kinds of business that people first think of.
"A lot of people think theyll be a homestager or set a restaurant up or something, which is very TV-driven."
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