Challenging the Discourse: Scoping Survey on the Needs and Motivations of Female Silver Entrepreneurs

Abstract

The population of older people (aged over 65) in the EU-27 is expected to reach 129.8 million by 2050, while at the same time there will be 13.5% fewer people aged less than 55 years (Eurostat, 2020). The ratio of older women to men is expected to decline from 1.33 to 1.24 in this time frame. Given the shrinking size of the working-age population and the growing number of ‘able and healthy’ older people, one of the most pressing concerns for policymakers is to support and encourage this group to remain economically active, not simply to reduce the strains on social security and pension systems, but to enhance the quality of later life. Self-employment in later life may increase and support active engagement and Maslow's (1943) higher order needs (e.g. self-realisation, belonging) as well as providing financial security. Entrepreneurship has youthful and masculine tropes. Healthy older people have the skills, financial resources and time available to contribute to economic activity through extending their working lives. However, few are involved in entrepreneurship, particularly women. Additionally, their enterprises tend to be less growth oriented than those of younger entrepreneurs which may suggest they have different needs, motivations and interests from the more stereotypical entrepreneur. In terms of gender, whilst ageing and retirement may threaten masculinity, it can be a time of liberation for women who may be freed from care and family related duties enabling them to pursue second careers or work in the informal economy. A key question is how can such women be supported in this journey. How can we reduce the risk, the jargon and biases to make entrepreneurship more attractive to older female entrepreneurs and change the discourse and narratives around passive retirement? The paper presents a literature review of the research and grey literature on older, especially female entrepreneurs with a view to discovering their needs and motivations. It has been conducted as part of the Horizon Europe funded Gender and Innovation Living Laboratory (GILL) project which aims to reduce inequalities in the Entrepreneurial and Innovation (E&I) Ecosystem, to find out more about the motivations and support needs of this group. In so doing, we hope to remove intersectional biases which predominate the literature and signal the need for greater attention to be given to this group of entrepreneurs.