Posted: Thu 9th Feb 2012
There's plenty of good news - the number of new businesses is up (as we've previously reported); there's more activity in the regions outside London and we're seeing a growth in the number of professional service businesses, such as health, law and finance. Unfortunately, there's a corresponding decline in creative businesses and construction. Perhaps the best news, though, is that more and more over-55s are taking the plunge and starting a business. The 25-34 year old age group still accounts for the highest number of start-ups, but the greatest growth is among 'silver start-ups'. In 2011, there was a 19 per cent increase in the number of over-65s starting a business and an 11 per cent increase in the number of entrepreneurs between 55 and 64.Over-55s now account for six per cent of all start-ups. Says Simply Business chief exec Jason Stockwood: "With ever increasing life expectancy and more flexibility around retirement, it's interesting that those in the 60 plus age bracket are considering a second career as an entrepreneur. Starting a business can be hugely rewarding at any age and those with so much experience behind them are in a fantastic position to make it a success." Hear hear!