If this is the case why isn’t this new group of entrepreneurs being embraced and supported by entrepreneurship and small business across Canada? One of the reasons – there isn’t any data supporting the numbers. The Global Entrepreneurship Monitor in Canada has noticed an increase in older people becoming entrepreneurs and continue to monitor this group of new business owners why not check here.

The other reason is the mindset surrounding seniorpreneurs. I’ve become the advocate for seniorpreneurship in Canada. One of my goals is to change how seniors in business are perceived. Mindsets will only change with more knowledge and education. Once this happens you will see a shift in what seniors have to offer and hopefully in turn, programs and support mechanisms will be put in place. Following are some of the common myths surrounding seniorpreneurs.

Seniorpreneurs only start lifestyle businesses & don’t contribute to the growth of the Canadian economy.

I recently contacted an organization to speak to them about seniorpreneurship. They work with mostly technology companies and suggested I contact a small business organization as it would be better suited. I explained seniors over the age of 50 do start technology companies, have employees, and sales in the millions of dollars. The person was surprised to learn this information and offered to help spread the word about an event I’ve started to work on.

Seniorpreneurs don’t only start technology companies. Other examples are franchises, tour companies and publishers of books and magazines, to name a few.

It’s easier for seniorpreneurs to start a business than young people

It’s commonly stated it is easier to start a business when you are older than when you are younger. Regardless of your age or type of business, starting a business is the same process. It is fair to say most people who have retired have been in the same field, doing the same job for most of their careers. Moving from their comfort zone to doing something new comes with a new set of challenges that are holding them back.

Seniorpreneurs are financially sound & don’t need help financing their business

Just because you are retired doesn’t mean you are financially sound. It is a fact we are living longer, are more active and want to continue to live the lifestyle we are accustomed to. Perhaps people haven’t saved enough to supplement their pension. Or others who don’t have a pension have to depend on government pensions. I know of couples who worked at a hi-tech company who closed their doors. They lost any hope of having a pension even though they had paid into for years. Some had to sell their home to survive.

Seniorpreneurs take jobs away from young people

If we are better suited to a position then why shouldn’t we get the job? We are experienced, reliable, and dependable. But there isn’t any reason why both age groups can’t work together. There are two local companies I’m aware of that do just that. One young entrepreneur hires older workers. The other one was founded by someone over the age of 50. Her two co-founders are in their early thirties as are the other employees. You may ask why and the reason is simply this – they have experience in their field which the founder of the business doesn’t have.

I realize changing the mindset isn’t going to happen overnight but we do need to start talking supporting this newest group of entrepreneurs.  For the ones that have already become a Seniorpreneur, I applaud you for taking the leap into entrepreneurship later in life. And this just isn’t in Canada, it is around the world!


Webinars and presentations:

If you are interested in participating in one of our webinars on seniorpreneurship or would like Wendy to speak at one of your upcoming events, please contact me at wendy@launchitright.com


Making Room for Seniorpreneurs (awareness of seniorpreneurship)

Discovering Seniorpreneurship (for seniors who are considering starting a business)

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