Entrepreneurial Bridges to Retirement by Sheila Kelly is a a new Handbook for Baby Boomers who see themselves as budding entreprenuers.
Apparently last year it was reported that the number of job seekers over 50 years old had risen by 50% in the previous 12 months to reach a 10 year high. This situation prevails and for many baby boomers finding employment is becoming increasingly difficult.
Given that this age cohort needs and wishes to continue to work many of us are looking to self-employment in the last decade of our working life to provide a continued income.
Statistics show that 15% of all businesses are started by the over 50s and that 70% of these businesses are still going after six years, evidence that self-employment is a viable option in later years.
This mirrors experience in the USA where, in the past decade, the highest rate of entrepreneurial activity has been baby boomers in the 55 – 64 year old age group.
Compared to previous generations we enjoy better health in later life. Combine this with the rise in the pension age and the ease of setting up a company using the internet it seems that this trend can already be identified in the UK too.
A new Handbook for Baby Boomers: Entrepreneurial Bridges to Retirement, available free in pdf format from the author, describes and analyses this phenomenon and provides guidance on the pathways into self-employment for this demographic.
The Handbook provides links to over 60 online resources that can be used for investigating personal pathways into different forms of entrepreneurial venturing.
The web links range from self-assessment tests to determine entrepreneurial dispositions to concepts of financial literacy and business planning.
The Handbook is written in a very accessible style, is well researched and the ideal starting point for those contemplating self-employment, using the skills and experience accumulated during a working life.
The author, Sheila Kelly, drafted the Handbook after visiting the USA on a Churchill Travel Fellowship in 2010 as part of her research into entrepreneurship.
She said: ‘An increasing number of older people are leaving full-time career jobs either voluntarily or through redundancy and, because of a multitude of reasons, including the inadequacy of their pensions to fund their longer life expectancies, they need to or want to continue to work for up to another decade.
An emerging trend among baby boomers is for a ‘gap year’ between leaving a full time career job and the next working stage of life, which may require consideration of new and different ways of making a living.’
It is at this point the Handbook is most useful as entrepreneurial venturing is one of the best options for extending working lives. Sheila has written Entrepreneurial Bridges to Retirement in two parts – The Story and the Sources.
The Story looks at trends in the US and UK and research findings on entrepreneurial venturing among older people. Self-employment in later years can be either an opportunity or a necessity. The low barriers to market entry created by developments in information and communication technology are significant factors and enable quick and easy business start-up.
The Sources provide links to sites providing business planning templates; tax and pensions advice and information; an explanation of business finance terminology; assessment of low, medium and high risk business options including franchises; legal and financial services and government support for business startups.
To obtain a copy just email the author at firstname.lastname@example.org requesting your free downloadable pdf copy of Entrepreneurial Bridges to Retirement.