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Senior entrepreneurship – key facts at regional level in Romania

Abstract

Senior population is still a valuable resource for the labour market and for entrepreneurship. While ageing population is a global phenomenon and solution are needed to milder the economic impact, there are also to consider the positive outcomes related to the optimal use of potential in the senior population and the benefits of an active life upon the elderly. This paper focuses on the entrepreneurial activity of senior population at regional level in Romania (Bucharest-Ilfov and South-Muntenia), considering a panel of 200 limited liability companies established in the last 5 years, by a single shareholder aged 60+ years. The empirical descriptive study is mainly based on the information about these companies searched for on the Ministry of Finance website. The paper aims to answer questions related to entrepreneurial activity of grey population like e.g. fields of activity raising interest of senior entrepreneurs at regional level in Romania and size of companies in terms of employees’ number and yearly turnover. The paper presents few considerations in view of assessing some dimensions of this phenomenon of senior entrepreneurship at regional level in Romania, based on the data obtained for the last 5 years. The results of this analysis will be enhanced by a further study on the same panel addressing mainly motivational drivers to start-up a business.

Open access
Seniorpreneur as a career option for smart active ageing. A study on Romania

Abstract

The ageing of population is a global phenomenon and solutions are looked for in order to milder the economic impact. One alternative is supporting active ageing through development of entrepreneurship among senior population. Seniors are a valuable resource for entrepreneurship. They often have the skills, financial resources and time available to contribute to economic activity. This will lead to the growing prevalence of senior entrepreneurship. Engaging seniors in both business creation and in supporting new and existing entrepreneurs would maximize the quality of their working life, nurture intergenerational learning and ensure knowledge transfer. In this respect, the paper seeks to answer the following questions: What is the seniors’ perception about entrepreneurship and self-employment in Romania? How desirable is a self-employed career for senior population? What are the motivations of Romanian senior population to become self-employed? To achieve these objectives, the paper analyzes the pulse of self-employment in Romania for people from the age group 60+ years. The data used are extracted from the Amway Global Entrepreneurship Reports (AGER) developed for Romania, for the period 2014-2016. Analysis is conducted by taken into considerations the following dimensions of the “entrepreneurship perception”: attitude towards entrepreneurship, intention of starting a business, entrepreneurship career appealing and entrepreneurship motivations. The findings of the paper show that, in general, people over 60 years exhibit a decreasing positive perception about entrepreneurship that can be explained by multiple reasons. In the paper we raise some key issues that require consideration by policy makers in order to support senior entrepreneurship in Romania and improve seniors’ quality of life.

Open access