As Britain's 1950s baby boom generation nears retirement, a growing number are deciding to take a late plunge into enterprise, a new survey shows.
Research from Over50.Biz, a support service for companies run by older people, reveals that entrepreneurs aged 50 and above are leading a new trend in start-ups.
According to its survey, older business owners now account for 54% of self-employed workers, up from 48.5% in 2001.
What's more, over half of British companies are owned by people over 50, and the study predicts that with pensions under-performing, companies downsizing and age discrimination in recruitment, more will start their own businesses in the future.
Older entrepreneurs are being aided as well by better health care and increasing longevity, said 61-year-old Tom Edge, founder of Over50.Biz.
"The over-50s are looking for intellectual stimulation and want to put their lifetime experience to use," he said.
"They know they can become self-sufficient and earn a lot more money by being self-employed. A huge number have business ideas and a real passion to push the boundaries for their businesses."
