Senior Startups boost economy
People aged over 50 are responsible for setting up one in every six new businesses in the UK, adding more than £24 billion to the economy.
The majority of these older entrepreneurs work from home and have businesses with an average annual turnover of £67,500, according to a report by Yellow Pages.
The owners of these businesses, labelled Senior Startups, set up their enterprises in the last five years and 61% said they regret not having taken the plunge earlier.
Women were more likely than men to start a business after a lifestyle change such as divorce or ill health, according to the Yellow Pages research.
