Skip to main content
  • Home
  • About
  • Faculty Experts
  • For The Media
  • ’Cuse Conversations Podcast
  • Topics
    • Alumni
    • Events
    • Faculty
    • Students
    • All Topics
  • Contact
  • Submit
Business & Economy
  • All News
  • Arts & Culture
  • Business & Economy
  • Campus & Community
  • Health & Society
  • Media, Law & Policy
  • STEM
  • Veterans
  • |
  • Alumni
  • The Peel
  • Athletics
Sections
  • All News
  • Arts & Culture
  • Business & Economy
  • Campus & Community
  • Health & Society
  • Media, Law & Policy
  • STEM
  • Veterans
  • |
  • Alumni
  • The Peel
  • Athletics
  • Home
  • About
  • Faculty Experts
  • For The Media
  • ’Cuse Conversations Podcast
  • Topics
    • Alumni
    • Events
    • Faculty
    • Students
    • All Topics
  • Contact
  • Submit
Business & Economy

Desire, Resources for Self-Employment Grow with Age, Says Whitman Study

Tuesday, June 11, 2013, By News Staff
Share
entrepreneurshipWhitman School of Management

minittiStarting a business is no longer a “young person’s game,” according to new research by Maria Minniti, a professor at the Martin J. Whitman School of Management.

Minniti and her co-authors, professors Teemu Kautonen and Simon Down of Anglia Ruskin University (UK), contend that, contrary to popular belief, an individual’s desire to become self-employed actually increases with age. Their paper, titled “Ageing and Entrepreneurial Preferences,” was recently published in the April 2013 issue of the academic journal Small Business Economics.

Using data collected from 2,566 individuals across 27 European countries, the researchers found that entrepreneurial activity increases with age for individuals who prefer to employ only themselves (“self-employers”), whereas it increases up to a critical age threshold (late 40s) before decreasing for those who want to employ staff (“owner-managers”).

Age is much less of a factor for those who do not necessarily prefer self-employment but are forced into it by the lack of an alternative (“reluctant entrepreneurs”).

The opportunity for starting a business increases with age because many entrepreneurial resources—such as the amount of disposable income, assets that can serve as collateral for bank loans, social capital, and professional and industry experience and knowledge—accumulate with age.

Minniti, Whitman’s Bantle Chair of Entrepreneurship and Public Policy, says, “Our results show that the likelihood of taking the step from thinking about starting a business to actually acting upon the idea increases with age up until the early 60s—but only for individuals who aim to employ themselves. Individuals in their 50s and 60s rarely start businesses that aim to generate employment and grow.”

Although the authors say it is unrealistic to expect older entrepreneurs to make substantial contributions to job creation, they believe policies that make self-employment an attractive late-career option could lead to longer working careers, as self-employed people tend to retire later than employees.

Minniti adds, “Increasing awareness of entrepreneurship amongst older age groups might boost their participation in social and economic life, such as social enterprise and voluntary work, which may generate modest economic benefits and contribute toward a better quality of life. Also, if traditional employment markets continue to decline, many in the older age group will need to seek self-employment out of necessity.”

The study suggests additional public policy implications regarding welfare and social security benefits.

“Governments have an interest in exploring more flexible labor laws and additional enterprise support measures, if only to lessen the effects of increased welfare benefits and pension payments amongst an aging population,” she says.

To read the full study, click here.

  • Author
  • Faculty Experts

News Staff

  • Maria Minniti

  • Recent
  • College of Visual and Performing Arts Welcomes New Full-Time Faculty
    Monday, September 25, 2023, By Erica Blust
  • School of Education Faculty Publish ‘Lesson Study With Mathematics and Science Preservice Teachers’
    Sunday, September 24, 2023, By Martin Walls
  • Water Main Break Near Bird Library to Be Repaired Monday
    Sunday, September 24, 2023, By News Staff
  • University Musicians, West Point Band to Perform Together This Weekend As Part of Events Around Military Appreciation Day
    Friday, September 22, 2023, By Christine Weber
  • Turning Young Enthusiasts Into Scientific Researchers
    Friday, September 22, 2023, By Wendy S. Loughlin

More In Business & Economy

Whitman School of Management Climbs in Bloomberg Businessweek Rankings

The Martin J. Whitman School of Management has again been listed among the best MBA programs for 2023-24 in the U.S. by Bloomberg Businessweek, improving its ranking by seven spots to No. 61 nationally, up from  No. 68 last year….

Falk College, UNLV to Launch Sports, Entertainment and Innovation Conference Next Summer

On July 14, University of Nevada Las Vegas (UNLV) Sports Innovation and Syracuse University’s David B. Falk College of Sport and Human Dynamics, in collaboration with the Las Vegas-based guest experience agency Circle, proudly announced the launch of a first-of-it-kind Sports,…

Syracuse University to Offer Google’s New Cybersecurity Certificate

Syracuse University’s College of Professional Studies today announced it will offer Google’s new Cybersecurity Certificate. The Google Career Certificates prepare learners for in-demand fields including cybersecurity, data analytics, IT support, project management and UX design—with no experience required. This offering…

Whitman School Announces Panasci Local Leadership Initiative

The Martin J. Whitman School of Management announces the creation of the Panasci Local Leadership Initiative, which will support professional connections and career building for students to remain in Central New York beyond graduation. This new initiative is made possible…

College of Professional Studies Faculty Member Co-Authors Project Management Textbook

Arthur Thomas, Ph.D., executive director for the Office of Professional Acceleration and Microcredentials in the College of Professional Studies, co-authored the textbook “Certified Associate in Project Management (CAPM) Exam Official Cert Guide Premium Edition and Practice Test” with Vijay Kanabar…

Subscribe to SU Today

If you need help with your subscription, contact sunews@syr.edu.

Connect With Us

  • X
  • Facebook
  • Instagram
  • Youtube
  • LinkedIn
Social Media Directory

For the Media

Find an Expert Follow @SyracuseUNews
  • Facebook
  • Instagram
  • Youtube
  • LinkedIn
  • @SyracuseU
  • @SyracuseUNews
  • @SUCampus
  • Social Media Directory
  • Accessibility
  • Privacy
  • Campus Status
  • Syracuse.edu
© 2023 Syracuse University News. All Rights Reserved.