And finally…UK ‘olderpreneurs’ on the rise

New data supplied by The Start Up Loans Company shows that 612 people aged 50 and over founded their own company since January 2016.

The firm’s internal data revealed that there are more ‘olderpreneurs’ starting a new business than young businessmen and women, aged 18-24.

612 UK adults, aged 50 and over, established a new business, compared with 487 companies started by 18-24 year olds.

Looking at these new 50+ business owners prior employment status, 42% were previously unemployed, 35% were already self-employed and 20% left a full or part-time job to follow their business dreams.

Tim Sawyer, CEO at the Start Up Loans Company, said: “It’s great to see so many people in their 50s following their business dreams and opening new firms.

“We saw some cases where people in their 50s were made redundant and struggled to find a new job. It is very encouraging to see them turning an unpleasant situation into a positive by becoming their own boss.”